Grants and Contracts Details
This award is to University of Kentucky to support the activity described below for 36 months. The proposal was submitted in response to the Partnerships for Innovation Program Solicitation (NSF 02060). The partners include University of Kentucky (Lead Institution), Alltech, Apolmmune, Equine Biodiagnostics Inc, Limestone Capital Partners LLC, Martek, Neogen, Stoll, Keenon and Parks LLC, Venture Laboratories Inc, Coldstream Research Campus, KY State Office for the New Economy, KY Science and Technology Council, KY State Office on Agriculture Policy, KY Tobacco Research and Development Council, Lexington United, and The Innovation Group. The activities include launching at least 4 start-up companies based on intellectual property derived from the University of Kentucky College of Agriculture research programs, involvement of 4-6 students (some recently graduated) in the start-up companies, and development of at least 2 new advanced training courses to provide new technical and business skills in the new natural products technology sector. The proposed goals include the following: (1) education of entrepreneurs in management of intellectual property, business planning, incorporation and other legal issues, financial management and accounting, human resources management, insurance, financial resource acquisition and planning, and technology assessment, (2) creation of a mentoring network to provide new businesses with access tot business and tech support, (3) provide financial resources to develop novel technologies and proof-of-concept research, (4) internships for students just completing their degrees (BS to PhD) to initiate or join new start-up companies, and (5) workforce development in the agricultural biotechnology sector. The effort will increase the number of new sources of higher-paying jobs, and mobilize the underrepresented populations in the region by providing training, technology and business support, and connecting entrepreneurs with sources of capital for their companies. The Commonwealth of Kentucky has traditionally been a rural economy that is stressed by the demise in demand for some of its cash crops. They have had recent success in attracting business and capitalizing on the intellectual property generated by the University of Kentucky. The proposal is based on their traditional strengths in agriculture and life sciences to create agricultural-based biotech start-up firms to create new jobs and economic output.
|Effective start/end date||11/1/02 → 6/30/07|
- National Science Foundation: $600,000.00