KY-270 Press Release

New Pitch Competition for Kentucky Start-ups

Pitch competition will result in 6 investments totaling $270,000 to fuel Kentucky startups

LEXINGTON (August 3, 2020) — A new funding opportunity for Kentucky early-stage technology startup companies will inject $270,000 of capital into the Kentucky startup ecosystem through a pitch competition presented by Launch Blue and the Bluegrass Angels (BGA) investor group. The Kentucky 270 (KY270) competition will result in six investments ranging from $30,000 to $90,000. Twelve Kentucky startups will be invited to pitch to a panel of investors on Thursday, October 22nd where winners will be selected.

KY270 investments will be made by funding partners Bluegrass Venture Fund IV (BGVFIV) operated by BGA, the Kentucky Enterprise Fund (KEF) at Kentucky Science & Technology Corporation (KSTC), KY Innovation at the Kentucky Cabinet for Economic Development, and Commonwealth Seed Capital (CSC).

“The Bluegrass Angels are proud to partner with Launch Blue and the other supporting organizations, who have provided strong support to the startup ecosystem in Kentucky for many years.” said Chris Young, President of Bluegrass Angels, Inc and chair of BGVFIV. “Pitch competitions are always fun, and we look forward to finding, funding and mentoring these young companies from all over the Commonwealth.”

“Launch Blue is pleased to partner with BGA, KSTC, KY Innovation, and CSC to provide much needed funding to six of Kentucky’s best early stage startups through the KY270 competition,” said Laura Halligan, Executive Director of Launch Blue. “Early-stage investment capital is a critical component of Launch Blue’s mission to launch nationally competitive Kentucky startups. KY270 is a great first step toward that goal by fueling these companies for success at the next level.”

Launch Blue will prepare the twelve finalists for the competition in a 2-day Launch Blue Labs session. Startup founders will have just seven minutes to tell the story of their startup and make the case for an investment during the KY270 competition.

“Kentucky 270 is a great example of collaboration among organizations in Kentucky” said Terry Samuel, president of KSTC. “The selected companies will not only receive an opportunity to compete for early stage capital, they will receive vital support and coaching from Launch Blue.”

The Commonwealth of Kentucky supports Kentucky’s innovation economy through a range of services including the Kentucky Investment Fund Act (KIFA) program, the Regional Innovation for Startups and Entrepreneurs (RISE) program, and the KEF and CSC investment programs.

"Governor Beshear and the KY Innovation team are delighted to have the opportunity to support startups in this way during the pandemic. It is through innovation we will reinvigorate the economy and build a stronger tomorrow," said Ellie Puckett, deputy executive director for KY Innovation.

The KY270 application period will close September 18th. Applicants will be vetted through a competitive application review process. Startups selected must meet eligibility requirements. Entrepreneurs can learn more and apply at launchblue.org/ky270 .

About Launch Blue: Launch Blue is a non-equity seeking pre-seed accelerator program designed to nurture the most promising Kentucky founders with scalable, technology-based startup ideas and empower them to move from the idea stage to successful launch. Launch Blue’s accelerator programs provide startup focused curriculum and personalized coaching to early-stage startup founders to facilitate long term success and market impact. Launch Blue hosts weekly online Office Hours sessions to support Kentucky startups, answer questions about opportunities, or to help founders with applications to Launch Blue’s programs. Learn more at launchblue.org

About Bluegrass Angels: The Bluegrass Angels is one of the most-active angel investing groups in Kentucky. BGA invests in Kentucky startup technology companies who have identified a clear exit strategy, the ability to create strong financial returns, and create new jobs for the Kentucky economy. BGA syndicates with other local investors and angel groups nationwide. BGA is a volunteer-led group of skilled and experienced business leaders who find, fund and mentor innovative, high-tech Kentucky startups. Learn more at bluegrassangels.com.

Media contact:

Travis McKenzie

x@launchblue.org

859.257.6689