Kansas City has a program to recruit start-ups to the city
It is named LaunchKC.
Recruiting start-ups to a city? It is a strategy that the Economic Development Corporation of Kansas City announced alongside the Downtown Council. The program, named LaunchKC, returns after what was described as a four-year hiatus.
Through September 9, LaunchKC is conducting a nationwide search for innovative and diverse early-stage start-ups looking to scale their businesses. $50,000 grants will be given out to eight start-ups that will also gain access to a host of support services – in exchange for headquartering their business in Kansas City, MO, for at least one year.
LaunchKC does not take equity in the companies that the non-profit community benefit organization supports. “Our return on investment is the success and growth of our portfolio companies and their impact on the Kansas City region,” said Tommy Wilson, Downtown Council Director of Business Recruitment.
Qualified applicants will have their applications evaluated by a panel of reviewers comprised of LaunchKC staff, industry experts, entrepreneurs, past grant recipients, and business leaders. Reviewers will narrow the pool of applicants through three rounds of judging. In the final round, approximately 20 applicants will participate in in-person interviews, and of those 20, eight will be selected to receive funding and business support.
Emphasis will be placed on tech companies with high-growth potential that prioritize equitable business practices and see Kansas City as an ideal home for their business. Finalists selected for the LaunchKC program will be notified in late October.
LaunchKC has funded 38 companies since the first grants competition held in 2015. Of those companies, 33 are still active, with 61 percent of those choosing to maintain operations in Kansas City. Collectively, LaunchKC companies have created more than 300 jobs in Missouri and attracted over $60 million in follow-on capital. In addition, 58 percent of companies that have participated in LaunchKC programming are women and/or minority-led.
Like what you've read?
Forward to a friend!