07.28.2009 – (Covington, KY) – The Kentucky Science and Technology Corporation (KSTC) awarded $355,000 to three companies with assistance from the Northern Kentucky ezone, a division of Northern Kentucky Tri-County Economic Development Corporation (Tri-ED). Small businesses use the funds awarded by KSTC to develop and apply science and technology to build ventures that will create job opportunities and wealth in the Commonwealth.
“Entrepreneurism often flourishes during a recession,” says Casey Barach, VP of entrepreneurship at the Northern Kentucky ezone. “These grants are critical for small companies to take their products and services to the next level. There are a number of opportunities for companies to receive funding from Kentucky and we’re here at the ezone to assist with the process.”
Pilus Energy received $250,000 and is the first company in Northern Kentucky to receive funding from the Kentucky New Energy Venture fund. The company is developing a patent-pending, hybrid microbial fuel cell reactor with an ultra/supercapacitor to harvest electrons and hydrogen gas from their proprietary bacteria, which consume sewage, fertilizer run-off, animal wastes, rotting plant materials, and other organic materials. More information about the company and its product is available online at http://www.pilusenergy.com/about/info/, including a YouTube video.
Dito Solutions, based in Florence, Kentucky, has developed and is marketing DitoAdvisor.com – the first comprehensive financial planning and management web site delivered directly to consumers. A consumer will be able to receive honest, independent and objective financial advice on virtually any significant topic in personal finance by using Dito Advisor. Dito Solutions received $75,000 from the Rural Innovation Fund subsequent to performing milestones required with a $25,000 grant the company received in September 2008. Additional information is available at http://www.ditoadvisor.com.
Analytical Solutions and Providers (ASAP Analytical), a small, veteran owned privately held company, recently introduced a new InfraRed Detector (IRD). The IRD allows forensic chemists to identify the molecular structure and chemical fingerprint of new illegal chemically altered drugs. ASAP was awarded $30,000 from the Rural Innovation Fund. Details on the company are available at http://www.asapanalytical.com.
A new round of funding will open in September 2009 and ezone clients can apply for grants of $30,000 or other funding options ranging from $100,000 to $750,000 toward commercializing high-tech/high-growth companies and ideas. The grants enable individuals or businesses to create and market new products, technologies and processes. The funding received from the Commonwealth can assist or compliment companies whose strategy includes raising capital.
The Fall 2009 application period opens September 17, 2009, and closes October 15, 2009. For more information or to begin your application, please contact Keith Schneider at the Northern Kentucky ezone at 859-292-7785 or visit www.nkyezone.org for more information.
About Kentucky Science and Technology Corporation (KSTC):
KSTC is a private non-profit organization dedicated to enhancing the capacity of people, companies and organizations to develop and apply science and technology and compete responsibly in the global marketplace. The mission of the Kentucky Enterprise Fund programs is to stimulate private investment in Kentucky-based technology companies with high growth potential. Kentucky Enterprise Fund award recipients have received over $119 million in follow-on funds. The Rural Innovation Fund is a seed stage venture-like fund focused on promoting and developing early stage technology companies in the rural areas of Kentucky (all counties except Fayette and Jefferson). Both programs are funded through the Kentucky Council on Postsecondary Education.
About Northern Kentucky ezone:
Created in 2001, the ezone is a division of Northern Kentucky Tri-ED. The mission of the ezone is to accelerate, mentor, align capital and gain exposure for start-up, emerging and existing high-technology businesses. Soon after its founding, the ezone was designated by the Kentucky Department of Commercialization & Innovation as one of six regional Innovation and Commercialization Centers in the state. Since then, the ezone has assisted in the creation of 1,154 new jobs with 160 firms in Northern Kentucky. For more information, visit www.NorthernKentuckyezone.com.
About Northern Kentucky Tri-ED:
Founded in 1987, the Northern Kentucky Tri-County Economic Development Corporation (Northern Kentucky Tri-ED) is the primary economic development marketing agency for Boone, Kenton and Campbell counties in Northern Kentucky. Since 1987, over 484 companies have located or expanded in Northern Kentucky, accounting for 47,683 new primary jobs and $4.6 Billion in capital investment. Northern Kentucky Tri-ED is a key partner in Vision 2015, a 10-year strategic plan for growth in the region. For more information, visit www.NorthernKentuckyUSA.com.
3 NKY startups win state funding
Three small Northern Kentucky companies have landed grants from the Kentucky Science and Technology Corporation worth $355,000
The companies all receive assistance from the Northern Kentucky E-zone in Covington. They include:
Dito Solutions, a Florence-based firm which landed $75,000 grant to develop and market DitoAdvisor.com - a financial planning and management Web site that's delivered directly to consumers.
AdvisorAnalytical Solutions, which landed a $30,000 for its new InfraRed Detector. The detector allows forensic chemists to identify the molecular structure and chemical fingerprints of illegally chemically altered drugs.
Pilus Energy, a start-up which operates from the Northern Kentucky E-zone and landed $250,000 for patent-pending technology related to biofuel cells.
A new round of funding will open in September and E-zone clients can apply for grants of $30,000 or other funding options ranging from $100,000 to $750,000 toward commercializing high-tech/high-growth companies and ideas.
For more information, contact Keith Schneider at the Northern Kentucky E-zone at 859-292-7785 or visit www.nkyezone.org for more information.