Tech Transfer eNews Blog

New private-public partnership in Kentucky aimed at turning university innovations into job-creating tech companies

By Jesse Schwartz
Published: July 29th, 2020

Governor Andy Beshear last week announced the creation of Kentucky Commercialization Ventures (KCV), a new public-private partnership unique in the U.S. that aims to develop academic innovations into job-creating tech companies.

KCV brings together the University of Kentucky (UK) and the University of Louisville (UofL) with the Kentucky Science and Technology Corp. (KSTC) and KY Innovation, the state’s office for entrepreneurial and small business support. The partnership will leverage the universities’ tech transfer offices, KSTC’s expertise in managing innovation programs, and KY Innovation’s statewide entrepreneurship resources.

“We all want to grow Kentucky’s tech sector and create the high-paying, knowledge-based jobs that follow,” says Beshear. “A big part of doing so is turning Kentucky’s own academic research and development capabilities into commercially viable products and start-ups. By partnering to create Kentucky Commercialization Ventures, we will provide the infrastructure to commercialize our own best ideas, build the commonwealth’s tech industry, and distinguish Kentucky as a national model in innovation.”

KCV will work with innovators at UK, UofL and other universities in the state to provide resources to commercialize their technologies. The partnership will also assist with intellectual property protection, technology licensing, industry networking.

“This collaboration will be pivotal in building Kentucky’s future economy,” says David Brock, operations director for KY Innovation. “KCV provides the tools and expertise to launch tech start-ups and grow new jobs. Success here will lead to future attraction of researchers, innovators, students and research dollars.”

UK president Eli Capilouto comments, “The entrepreneurial spirit at the University of Kentucky makes us the heartbeat of the state’s economy. Kentucky Commercialization Ventures empowers us to work collaboratively with our sister institutions and strengthen our state’s economic development pipeline. This venture underscores our commitment to transform the creative research and development on our campus into tangible solutions benefitting our communities.”

Source: NKyTribune

Posted under: Tech Transfer e-News

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