The second annual West Kentucky Innovation Challenge is right around the corner.
Funded through the U.S. Department of Agriculture, the interactive online program supports entrepreneurs in Western Kentucky who are looking to either create new technology-enabled businesses or expand their existing businesses using the latest tech, according to a news release. The program will run from Feb. 17 to March 30.
Entrepreneurs who want to take part must formally apply to receive access to weekly online coaching sessions. Those who complete the program will have the opportunity to pitch their idea to a panel of experts in the hopes of gaining access to a team of software engineers to help build out a prototype of their product — a total value of $95,000.
“The [challenge] is different from many small business support programs," said Monica Bilak, the executive director of Sprocket, one of the main facilitators of the challenge, in the release. “It pairs local, industry, problem-solvers with highly skilled business and technical experts. Technical experts such as software engineers can be cost prohibitive to most budding entrepreneurs, particularly those just starting out with an idea. This program allows them to quickly and affordably test their ideas.”
In addition to Sprocket and GroWest Partners, the challenge is also sponsored by the Mullenberg Alliance for Progress, Madisonville-Hopkins County Economic Development Corporation and the Murray State University Center for Economic and Entrepreneurial Development.
“I am excited about the West Kentucky Innovation Challenge and the opportunities it presents for supporting the innovators in our region,” said Chris Woolridge, director of the MSU Center for Economic and Entrepreneurial Development, in the release.
The event's predecessor was the West Kentucky Tech Incubator, which had its first run last August and ran in partnership with Codefi, Sprocket's counterpart in Cape Girardeau, Missouri.
The challenge is open to any entrepreneurs and innovators who live in Ballard, Caldwell, Calloway, Carlisle, Christian, Crittenden, Fulton, Graves, Henderson, Hickman, Hopkins, Livingston, Lyon, Marshall, Mccracken, McLean, Muhlenberg, Todd, Trigg, Union and Webster counties.
Applicants must be 18 and legal residents of the U.S. at the time of entry.
Those interested can attend one of two informational sessions on Feb. 13 and 15. Those who wish to register can do so by visiting sprocketpaducah.com/events.
Sprocket is a digital economic development organization located in Paducah that launched in 2021. It is part of GroWest, one of six KY Innovation hubs located throughout the commonwealth.
