Story by Elizabeth Erwin, News Editor
Gov. Matt Bevin announced on Tuesday, Nov. 27 that Murray State and it’s regional partners were selected to establish a Regional Innovation for Startups and Entrepreneurs hub.
This regional hub will serve to attract and cultivate more innovative entrepreneurs and startup businesses in western Kentucky.
Murray State’s Center for Telecommunications Systems Management director, Michael Ramage said the hub will strategically address the rapidly changing economy of western Kentucky.
“West Kentucky has a broad array of resources for startups, but we recognize this is a pivotal opportunity to enhance and share those strengths in order to build our regional ecosystem,” Ramage said. “Clustering resources around the information technology sector allows us to connect startups to expert services, capital and tools they require to succeed.”
The CTSM will partner with the Technology Council of West Kentucky and entrepreneurship service providers throughout the region to launch the hub. RISE hubs are part of KY Innovation’s 120-county initiative to modernize Kentucky’s support for high-tech, high-growth-potential businesses.
The consortium will build on the successes of area tech startups, focus on regional collaboration to support early stage businesses through capitalization and commercialization, and develop the region’s culture for supporting entrepreneurs and innovative startups, according to the release.
The western Kentucky innovation hub will receive $428,684 in state funding.
“We are focusing Kentucky’s resources to support entrepreneurs who create new products, launch and grow businesses and positively impact our overall economy,” Bevin said. “The western region of Kentucky is vital to KY Innovation’s statewide strategy to serve entrepreneurs. KY Innovation’s investment in west Kentucky’s RISE hub will enable it to better leverage the exceptional businesses, universities and workforce already in the area and will help create an environment where they can flourish.”
RISE fosters partnerships between universities, established companies and industry sectors, entrepreneurs, business accelerator and incubator programs and various other public and private entities.