Beginning today, startup companies from around the Louisville region can begin submitting applications for the 2019 Vogt Awards.
The awards are given to early-stage startup companies that are developing some sort of innovative, technology-enabled product. Submissions will be accepted through May 31.
Winners receive $25,000 in non-dilutive funding plus a package of services designed for startups, along with general mentorship. To be eligible, businesses must be based in Bullitt, Henry, Jefferson, Meade, Oldham, Shelby, Spencer or Trimble counties in Kentucky, or Clark, Floyd, Washington, Scott or Harrison counties in Indiana.
Previously, criteria included a $50,000 lifetime revenue cap, but starting this year, the cap is $50,000 per year to better accommodate startups that have earned revenue for test pilot programs or had early adopters.
“By providing non-dilutive money that doesn’t force entrepreneurs to give up a stake in their companies in order to get them off the ground, the Vogt Awards program empowers entrepreneurs to realize their full vision without having to compromise,” said Ellie Puckett, commercialization director for Greater Louisville Inc.’s EnterpriseCorp, in a news release. “That dedication to empowering local startups is invaluable in growing our entrepreneurial community.”
The Vogt Awards are named for Henry Vogt Heuser Sr., a Louisville businessman who established the Vogt Invention & Innovation Fund at the Community Foundation of Louisville, created to help support entrepreneurial efforts of engineers and innovators to fund the product development and commercialization of their ideas.
Winners will be selected in August, after which they will participate in a 10-week mentoring and support program. In November, Vogt Demo Day gives each winner an opportunity showcase their business and progress to the entrepreneurial community.