Rural Innovation Fund

The goal of the Rural Innovation Fund is to assist rural companies with the development and commercialization of technology that will in turn stimulate the growth of high tech jobs across the state. 

Eligible Companies

• Must be Small, Rural (located outside Fayette/Jefferson Counties), Kentucky-based company and have 50 or fewer employees.
• Must be operating in one of the following industries:
  • Biosciences
  • Environmental & Energy Technologies
  • Human Health & Development
  • Information Technology & Communication
  • Materials Science & Advanced Manufacturing

Fund Summary

 Companies seeking capital go through a rigorous due  diligence process and are judged in terms of  industry fit, return on investment, and potential for  economic development.  

Grant: $30,000 

• Rural funds must be spent with independent third-party partners/consultants.
• Grants must be repaid upon receipt of follow-on award from Rural Innovation Fund or Kentucky Enterprise Fund
• Funds must be used for approved business development activities. 

Investment: $100,000  

• Investments must be repaid.
• Funds may be invested via convertible note or through a direct stock purchase.