As those living in more rural communities know, attracting start-ups to their areas is not that easy. The folks in Paducah, KR seems to have something that might be considered by towns of similar size.
The Western Kentucky city is leveraging three organizations -Sprocket Inc., its local innovation lab; KY Innovation, the state’s office for entrepreneurial and small business growth; and a program launched by Cape Girardeau, MO-based Codefi.
1ST50K, which was developed by Codefi, is designed to draw software-focused companies to rural communities, providing winners with $50,000 in non-dilutive capital to help innovators scale their businesses. There is also a companion program – West Kentucky Innovation Challenge – that is focused on growing locally founded start-ups.
Click here to learn more from KY Inno.