Lexington, KY - Lexington business incubator Awesome Inc. was awarded a $37,500 grant from the Cabinet for Economic Development’s Office of Entrepreneurship, through Commerce Lexington Inc. to support the new Awesome Fellowship program, which will help local startup companies get off the ground.
“By promoting innovation and helping entrepreneurs early in their process, we can improve Kentucky’s competitive position in the world and enhance job creation at the same time,” said Gov. Steve Beshear said in a release about the grant. “Entrepreneurs need our help in launching their ideas and growing their businesses. Through the efforts of our Office of Entrepreneurship and its many partners across the state, Kentucky can become a leader in developing and growing a vibrant and robust entrepreneurial community.”
The Awesome Fellowship program, which is run by Awesome Inc., provides support to very early-stage ventures that focus on web and mobile software, software-as-a-service and data solutions. Services offered to these developing companies include workspace and access to experienced mentors, programming and design. Awesome Inc. receives support from the Lexington office of the Kentucky Innovation Network and Commerce Lexington.
“We’re really excited about the direction of the entrepreneurial community throughout the state of Kentucky,” said Awesome Inc. Founder Brian Raney stated in the release. “With the support of the Cabinet for Economic Development, the Awesome Fellowship program will provide critical resources for startups. I remember what it was like when I was just getting started, and a program like this would have allowed us to progress more quickly.”
In an email Rainey said the funds would go toward numerous budget lines at their Main Street headquarters including a program director salary, part-time graphic designer salary, a programmer salary, Office equipment, supplies, mentor meet-ups and fees associating with legal and accounting needs.
The Office of Entrepreneurship formed earlier this year within the Cabinet for Economic Development with a goal of streamlining the state’s focus and efforts to create and promote a strong culture of entrepreneurship. The office oversees the Kentucky Innovation Network, the Kentucky Export Initiative, as well as an array of other services, programs and initiatives to encourage small business growth.
In recognition of Global Entrepreneurship Week, running through the 24th, the Lexington office of the Kentucky Innovation Network has teamed up with Commerce Lexington, Lexington Fayette County Urban Government, the Bluegrass Small Business Development Center and the University of Kentucky to host events aimed at assisting potential entrepreneurs with advice on startup options, finances, legal affairs, branding and social media. More information about local activities can be found here.