Covington, Ky. – UpTech, Greater Cincinnati’s accelerator for informatics-driven startups, announced today that the Kentucky Cabinet for Economic Development has approved an operational grant to UpTech of $100,000.
As the organization looks to the future, the continued support from the Commonwealth is recognition of the program’s success over the last three years. This operational funding comes only months after receiving $800,000 in Kentucky state tax credits for UpTech’s second fund.
“The work of UpTech and the other accelerators in Greater Cincinnati is vital to economic development in our region, and we are pleased to have the Commonwealth’s strong support of that work,” said UpTech President and Board Chair Thomas Prewitt. “Its about creating companies, and we’re creating companies.”
The UpTech program began in 2012 through a community partnership between the Kentucky Innovation Network, Northern Kentucky University, Campbell County Economic Progress Authority, Tri-County Economic Development Corporation, Skyward, and Willman Design.
UpTech’s impact to the region over the past three years has primarily been in the areas of business and job creation, but the accelerator also places a strong emphasis on community engagement. UpTech partners with many varied businesses in the region, provides each cohort with regional business mentors, and hosts regular community social and educational events that are open to the public.
To date, the group has had 22 companies enter and complete the program. Currently half way through their fourth year, UpTech’s fourth cohort is comprised of eight companies.
Their Demo Day is scheduled for February 4, 2016 at 84.51º.
Together the 30 UpTech companies have created over 83 new jobs and continue to bring new opportunities to Kentucky.
For more information on UpTech, please visit http://www.uptechideas.org/