UK Entrepreneurs a Key Part of Venture Club Awards
LEXINGTON, Ky., (Feb. 1, 2013) — Each year the Lexington Venture Club recognizes entrepreneurial companies in the Bluegrass region that have contributed to the long-term growth and prosperity of the region. The founders of these companies are launching and growing new technology-based businesses which, in turn, create high-paying jobs and form the basis for the knowledge-based economy in Lexington and surrounding counties. These early-stage companies represent industry sectors in biotechnology and health care, advanced manufacturing, IT and software development, game development, energy technologies and business services.
Last night, the Lexington Venture Club hosted its annual celebration, which was themed “The Toast of the Town” at Paulie’s Toasted Barrel downtown. Many of the recognized companies attended the event, as well as community leaders. University of Kentucky President Eli Capilouto was one of the featured speakers, and he toasted the successful endeavors of the companies. The attendees enjoyed three video features on Allylix, Stadionaut, and the Lexington gaming community.
During the celebration the Lexington Venture Club announced the results of its annual survey of early-stage companies. This year 87 early-stage companies responded that their company received funding and/or created jobs in 2012. The highlight of these companies’ self-reported successes include:
- $83.8 million in funding received from, friends and family investors, angel and venture capital investors, federal funds, including SBIR and STTR grants; Kentucky state funds, including SBIR/STTR matching grant funds and investment from strategic partners.
- 823 people were employed by these companies either in full-time or part-time positions. This number includes 201 new full-time and 103 part-time hires.
- $68,067 was the reported annual average salary for all full-time jobs maintained and created by these companies.
- $141.4 million in total revenue was produced by these companies.
The Lexington Venture Club was established to bring entrepreneurs, investors and service providers together to share information of common interest and to learn more about new business opportunities. The Lexington Venture Club was co-founded in 2002 and is managed by Commerce Lexington and the University of Kentucky’s Von Allmen Center for Entrepreneurship and the Lexington Innovation & Commercialization Center (ICC), which is a part of the statewide Innovation Network supported by the Kentucky Cabinet for Economic Development.
For more information about the event and to see a full list of the companies recognized, please visit www.lexingtonventureclub.com.
MEDIA CONTACTS: Kimberly Rossetti, (859) 226-1627; Carl Nathe, (859) 257-3200.