Louisville, KY - April 14, 2008 - Eight Louisville-based companies have been approved for a total of $575,000 from the Kentucky Science and Technology Corporation. The awards were made through KSTC’s Kentucky Enterprise Fund which provides seed stage capital for early stage commercialization of a technology-based product or process.
All recipients are clients of the Louisville ICC Program which is headed by ICC Director Vik Chadha. The ICC Program is run by GLI’s Enterprise Corp at 123 E. Main Street.
The companies receiving awards are:
• Advanced Cancer Therapeutics, LLC, $25,000
• Global Aviation Navigator, Inc., $25,000
• GreenerWay, LLC, $25,000
• Louisville Clean Energy, LLC, $25,000
• Partum Group, LLC, $25,000
• TestToob, Inc., $25,000
• VuPal Network, LLC, $25,000
In addition, Neuronetrix, Inc. received an investment of $400,000 from the Gap Fund.These funds are critical in encouraging the commercialization of innovative, new ideas,” said Vik Chadha. “By investing capital in early-stage companies with high growth potential, Kentucky is enhancing its chances of creating profitable companies, which in turn create high-paying jobs.”Companies seeking the grants go through a rigorous due diligence process and are judged in terms of industry fit, return on investment and economic development goals. For more information on the Kentucky Enterprise Fund go to www.startupkentucky.com.
FOR IMMEDIATE RELEASE
Eight Louisville Companies Awarded Funding from Kentucky Science and Technology Corporation