Kentucky creates tech innovation P3

A new public-private partnership in Kentucky will work to develop academic innovations into job-creating tech companies.

Gov. Andy Beshear recently announced the creation of Kentucky Commercialization Ventures (KCV) in partnership with the University of Kentucky and University of Louisville with the Kentucky Science and Technology Corp. (KSTC) and KY Innovation. KCV will leverage UK and UofL’s commercialization offices with KSTC’s history of managing innovation programs and KY Innovation’s statewide entrepreneurship resources.

Under recently signed contracts, Kentucky this fiscal year will pay KSTC $755,000 and over the next two fiscal years $200,000 to each of UofL’s and UK’s research foundations.

KCV will work with all of Kentucky’s public education institutions including Eastern Kentucky University, Western Kentucky University, Northern Kentucky University, Kentucky State University, Morehead State University, Murray State University and the Kentucky Community & Technical College System. By combining the strength of many institutions, KCV will be positioned to compete for federal grants.

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