Lexington, KY - The Cabinet for Economic Development has created the Office of Entrepreneurship within the Cabinet’s Department for Business Development in an effort to streamline and bolster business development in the state. The office will aim to help businesses at every step of the growth cycle, according to a release from Gov. Steve Beshear’s office.
“Small and young companies are vital to our economic health, not just in Kentucky, but across the United States,” Beshear said in the release. “By helping entrepreneurs early and broadly and by promoting innovation and entrepreneurial activity, we can improve Kentucky’s competitive position in the world and enhance job creation at the same time.”
The overall goal of the Office of Entrepreneurship will be to develop an entrepreneurial climate for new talent in Kentucky; provide guidance and support to start-up operations; assist existing small businesses with growth opportunities; and to create a pipeline of business activity that can be streamlined with the traditional growth opportunities the Cabinet already offers to encourage job and investment creation in Kentucky.
The office will oversee the Kentucky Innovation Network, which now includes 10 Innovation and Commercialization Centers (ICCs) and two satellite offices. The office will also guide the Cabinet’s extensive resources for small and new businesses, as well as innovative and high-tech companies, with funding, marketing assistance, advocacy and resource referrals available along with a variety of financial and incentive programs to encourage new investment and job creation.
“The Office of Entrepreneurship will play a key role in our overall business development strategy,” said Erik Dunnigan, Commissioner of Business Development and Interim Executive Director of the Office of Entrepreneurship. “By closely linking all of our entrepreneurial and small business development efforts with our existing business recruitment and expansion activities, we’ll be better able to serve clients at all ends of the growth spectrum.”
Information on Kentucky’s economic development efforts and programs is available at www.ThinkKentucky.com.