Capital is needed to help high tech firms grow since product development can be expensive and it may be difficult to raise private investment funds. The state of Kentucky provides assistance to help high tech companies find funds and opportunities.
Governor Beshear recently announced that five Kentucky high tech companies will share over $1.3 million in state funds as part of a Kentucky initiative to attract and support technology-based small businesses located in the state. The state of Kentucky helps companies by matching up to $100,000 for SBIR awards for either a Phase I award or up to $500,000 per year for up to two years for a Phase II award. If a single company receives both a Phase I and Phase II award, that company can receive up to $1.1 million.
Original Article: Federal Telemedicine News: Kentucky Helps High Tech Firms
