FOR IMMEDIATE RELEASE
 
Contact: Kris Kimel / This e-mail address is being protected from spambots. You need JavaScript enabled to view it  

859-229-6161

Kentucky Space LLC today announced the creation of Space Tango, one of the nation’s first business accelerators specifically for space enterprises and entrepreneurs. Space Tango is an early-stage venture fund, business accelerator and community of entrepreneurs for space-driven startups, with the goal of assisting businesses in developing innovations, novel applications and diverse markets.   

The global space marketplace is now poised for significant growth and opportunity. Unprecedented access to space coupled with the rapid advancement of micro technologies and other innovations are combining to create a dynamic space industry. The 2013 report from the Space Foundation noted that “The global space economy grew by nearly 7% in 2012 reaching a new record of $304.31 billion. As in previous years, the vast majority of this growth was in the commercial sector, which now constitutes nearly three-quarters of the space economy, with government making up the rest”.

Opportunities (including adjacent applications) lie in developing entrepreneurial ideas, companies and products that enable the further exploitation of space.  Possibilities involve small high-value satellites and space platforms, the International Space Station (ISS) and opportunities in biotechnology, exomedicine, novel materials, energy, education, and game design and development…as well as areas and applications not yet imagined.  
 
“The successful development of a commercial and sustainable space marketplace is in large part dependent on disruptive thinking and novel experimentation outside of the traditional boundaries” said Kris Kimel, President of Kentucky Space.
 
In the initial round, Space Tango will invest in up to six companies from across the U.S.  These enterprises will participate in an intensive twelve week on-site program, centered in Lexington, Kentucky, that will provide a complete constellation of services, advisors and networks necessary to successfully start and grow a space-driven business. Companies will be selected primarily on the basis of their idea, science, technology, market fit, customer understanding, management team, and readiness level.
 
Selected companies will have access to a full team of advisors (scientists, engineers, entrepreneurs, sales and marketing professionals, investors, etc.) and facilities.  These other assets include the Exomedicine Institute, technical and ground operations centers at  Morehead State University Space Science Center (21 meter tracking station) and the University of Kentucky Space Systems Lab and offices at the Kennedy Space Center in Florida and NASA Ames Research Center in Silicon Valley (Mountain View, California).
 
“The Office of Commercialization and Innovation is excited about playing a role in the further development of a global space marketplace…as well as a dynamic entrepreneurial space industry cluster in the region” said Gene Fuqua, Executive Director, Kentucky Office of Commercialization and Innovation.
 
The marketing and due diligence process to select the initial companies will begin immediately. Further details and contact information be found at www.spacetango.com. 
 
Kentucky Space LLC is an ambitious enterprise focused on R&D, talent development, commercial and entrepreneurial space solutions.  (www.kentuckyspace.com)
 
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RailsBridge: Friday, April 19, 5:30 PM - Saturday, April 20, 9:00am - 5:00pm - Awesome Inc. 

RailsBridge is a free programming workshop for women and their friends.  Attendees will have help installing all the tools required to start programming and will have a day of instruction with lots of hands on experience and assistance from teaching assistants. No prior programming experience is necessary!

Friday night: install-fest (5:30-8:30pm)

The install-fest is for getting your computer set up with the tools you'll need to participate in the workshop on Saturday. Even if you have the software installed you are still encouraged to come to the install-fest to meet your fellow participants and make sure there are no problems that will have to be sorted out during the workshop.

Saturday: Workshop (9:00am-5:00pm)

An instructor will lead you through the basics of programming and offer opportunities to exercise the skill you'll be acquiring. By the time you leave you should be comfortable reading Ruby program code and writing some basic programs. The environment is non-competitive and encouraging.

Sign up and see full details here. 

Posted by Insider Louisville, April 3, 2013 

Sports fans, think about this: Student athletes, though they generate billions each year for universities, are prohibited by the NCAA from being paid a nickel other than tuition, right?

But if you’re a successful student entrepreneur, the state of Kentucky will throw thousand of dollars (in cash and services) at your big idea, which could generate billions for you.

Go figure.

As the University of Louisville goes to the NCAA Final Four, Kentucky’s collegiate entrepreneurs are getting ready for the Mother of All Biz Plan/Pitch Competitions.

Idea State U is the annual business plan and pitch competition that brings to Lexington young innovators from Kentucky’s eight state universities. And to be honest, students from U of L’s Entrepreneurial MBA program usually kill it.

The good news is,  if you’re an MBA student walking around frustrated, unable to get traction for what everyone tells you is a great startup concept, this could be your opportunity to spend the year tweaking your business plan and elevator pitch for 2014. Because the prize money for Idea State U is significant.

Last year, the Fifth Annual Idea State U awarded at total of $100,000  in startup capital and services to eight students.

The big winners were the Kentucky Chia team from U of L, which has since evolved into a business with serious angel investor backing, run by Zack Pennington, Joanna Cruz, Scott Serdoz, and Keith Starling.

Kentucky Chia recieved $35,555 for their business plan to create a wholesale distributor of domestically grown chia seeds – a potential new cash crop for Kentucky farmers as a nutritional supplement for horses.

Winning teams are judged on business concepts and business plans for proposed new ventures – they can’t be going concerns.

This year, the elevator pitch and oral presentations will be at Lexington Center, Fri., April 12 through Sat., April 13.

Read the complete story here.   

The Kentucky FoundersLab provides seed funding and assistance to startups founded by Kentucky students.  The FoundersLab will support companies’ product and customer development activities as they test, iterate, and validate assumptions.  KSTC will provide a structured program, mentor network, small amount of capital, and guidance as the Company learns how to quickly test and modify its approach to customer and product development.  

Deadline for final submissions will be Friday, May 17^th, with awards being announced on May 31^st.  The application can be found here.

Click here for more information.