Frankfort, Ky. (WBKO) – Seven innovative Kentucky companies will receive $ 749,964 in state -competing subsidies to support well -remunerated jobs and further increase the state technological sector.
Governor Andy Beshear made this announcement today.
The nearly $ 750,000 in subsidies come from the Small Business Research Correspondence Program (SBIR) and the transfer of small businesses (STTR).
According to the press release, the funds will partly correspond to $ 4.69 million in federal subsidies that companies will receive collectively.
“The creation of an economy that remains successful in the future begins with the initiatives we take today, which will guarantee that Kentucky remains competitive in the innovation and technology sectors,” said the governor Beshear in a press release. “This program allows us to invest in the resources that these start -up technology companies need to succeed and create high salary jobs for Kentuckians through the State. I am delighted to see what the future reserves for these companies when they continue to prosper here in the Commonwealth. »»
Recipient companies include:
- 3P Technologies Inc. (Louisville): 3P Technologies develops technology to use cow colostrum exosomes for targeted delivery of healthy compounds to the brain to alleviate neuroinflammatory diseases such as Alzheimer’s disease. The use of exosomes for the delivery of drugs is an innovative concept developed in their laboratory.
- Covers Defenses LLC (Lexington): Coven defenses have developed secret knowledge technology, which allows entirely fully operation of industrial control systems even if it is compromised by cyber attacks with initiate assistance. Technology finds double-use applications in oil and gas pipelines, manufacturing, micro-scrains, etc., as well as drones, tactical assault kits and a radio defined by software.
- Wilo Networks Inc. (Lexington): Wilo Networks Inc. is a main development company focused on the development and deployment of a network of cutting-edge sensor network designed to operate with exceptionally low energy consumption. The proposed research aims to take up the challenge of maintaining continuous and reliable sensor communication in environments where food resources are limited or costly to replace.
- VRTOGETH (Louisville): VRTOGETHER develops a virtual partner (supply, activate, restore, follow, inspire, educate, rehabilitate), a non -invasive and non -pharmacological VR application designed to fill gaps in the management and prevention of delirium while minimizing staff load. The overall objective of the virtual partner is to deliver an intervention of clinically validated and regulatory validated delirium which transires patients in intensive care of hospital beds to home recovery.
- Wild Dog Physics LLC (Louisville): Disparities in health care in the United States cause significant population segments without access to radiotherapy. Wild Dog Physics proposes to design and test a new generation quality insurance system that meets these unsatisfied medical needs. Once successful, this important innovation will help provide specific and cutting -edge treatments to technology to patients who may not receive them.
- New global systems for intelligent transport management corp. (Paducah): New Global Systems is developing a platform to meet carpooling challenges with individuals in rural areas and disabled individuals. The unique platform and algorithm will create real-time follow-up, optimization of the route and dynamic prices to ensure that travel is profitable, reliable and accessible.
- PCC Hydrogen Inc. (Louisville): Hydrogen PCC (PCCH2) has developed a patented process to produce hydrogen from ethanol with net negative carbon dioxide. The project will finance the scale of the main reactor of the company, an integral component of its hydrogen production process. In concert with the SBIR II subsidy of PCCH2 and based on the considerable progress supported by the correspondence price of Kentucky, the company develops commercial hydrogen ecosystems powered by hydrogen from the distributed hydrogen production factories of PCCH2.
The SBIR / STTR program, supervised by Ky Innovation, provides non-illuminity capital for promising technological companies in early stage by corresponding all or part of the federal SBIR / STTR prices received by companies or companies based in Kentucky committed to move in the state.
“The price of counterpart funds is an important complement to federal funding which is largely limited to technical development activities,” said Tim Fogarty, founder of PPC Hydrogen Inc. in a press release. “To achieve commercial success, customer commitment and business development are necessary. The financing of these commercial development activities can be difficult to find. »»
To date, Kentucky SBIR / STTR companies have exploited the State -of -the -term program to receive $ 4.78 in federal or private capital for each $ 1 public funds. These companies have also created more than 7,66 well -paid jobs, 88% of which have annual wages of more than $ 50,000.
Match beneficiaries have 235 patents and generated more than $ 108 million in sales and license income. Kentucky has made 337 match prizes to 153 unique companies since the program was created, taking advantage of $ 166.76 million in federal funding in the state.
More information on the SBIR / STTR of Kentucky Correspondence Fund program and the rewarded companies are available at kyinnovation.com/sbir.
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