Lexington, KY  - The Kentucky Science and Technology Corporation announced today that five student-led startups have been selected as participants in the inaugural FoundersLab business accelerator program. The thirteen week program will assist each enterprise to take an initial product or concept and create a complete business model around it.

FoundersLab follows the Lean Startup process, which emphasizes early interaction with customers and other stakeholders as a way to reduce the risk inherent in all new businesses. The Lean Startup approach has rapidly gained adherents in both commercial and academic settings and is used in business schools and business accelerator programs around the country.

Student-led startups from across Kentucky applied to FoundersLab, and five of the most promising applicants were selected to begin the program this month. The startups chosen for FoundersLab are:

Control My ADHD –  A subscription-based program that provides interactive, web-based coaching modules for those with ADHD.  

LocalBride –  A web portal where recent brides and brides-to-be can connect and exchange advice on local vendors and bridal experiences.

ShareLab –  A product that allows wireless sharing of information to mobile devices without requiring an Internet connection.

TallyRally –  A mobile application that combines social gaming among friends with a viral marketing component for corporate advertisers.

UrbanCombat –  A system that expands laser tag gaming into a city-wide outdoor activity.

FoundersLab is managed by KSTC  working in partnership with a group of mentors from the entrepreneurial community throughout Kentucky and elsewhere. Each startup has a mentor dedicated to their business and is offered assistance with legal and accounting matters as needed. The startups selected for FoundersLab also receive an investment of seed funding from KSTC.

Meagan Hennig, Venture Finance Fund Director at KSTC said, “We were very impressed with the quality of the applicants  – with this being our inaugural year, we weren’t sure what to expect. We received proposals from across Kentucky, and narrowing those down to just the five participants was tough.  Now we’re ready to make rapid progress with these companies, working closely with them to focus in on the most fundamental issues of starting a company.”

The FoundersLab program will operate from June through August, 2013, and culminates in a Demo Day in mid-August where each of the businesses will present the results of their work.

Additional support for the FoundersLab comes from the Kentucky Council on Postsecondary Education and the Kentucky Cabinet for Economic Development. 

This summer the Kentucky Science and Technology Corporation is launching Kentucky FoundersLab, a business accelerator program for student entrepreneurs. The 13-week program provides structured mentoring for each team accepted, as well as seed funding of up to $11,000 for the student-led businesses. FoundersLab employs the Lean LaunchPad methodology, designed to rapidly iterate development of a successful business model.

The inaugural FoundersLab program will be limited to five student-entrepreneur teams, and applications close on May 17th. Visit this page to get more information and apply here.

If you have any questions at all, please don’t hesitate to contact us at This e-mail address is being protected from spambots. You need JavaScript enabled to view it . 

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.