Early-stage founders, take note.
The Vogt Invent and Innovation Awards are now taking applications (as of today, April 26), per a news release. They will be accepted until May 28.
Funded by the Community Foundation of Louisville and now in its 24th year, up to six startups will be awarded non-dilutive grants of $25,000 each. In addition, those chosen will also take part in a 10-week accelerator program to help them grow their businesses through a variety of training platforms and resources.
One stipulation of those who enter is that they have their headquarters within a 13-county footprint of the Louisville metro area. The awards were initially established in 1999 by Henry Vogt Heuser, Sr. — noted philanthropist and namesake of the Heuser Hearing Institute — as a way to inject job growth opportunities and economic stimulation into Derby City.
You can get details and submit and application here.
“The Vogt Awards continue to carry out the vision of the Heuser family by providing a platform for growth and mentorship for innovative business founders,” said Ron Gallo, president and CEO of the Community Foundation of Louisville, in the release. “Supporting early-stage businesses through the Vogt Awards opens opportunity for invention and economic development in our community.”
The fund had a starting principal of $5 million, which is still intact after 108 grants totaling more than $3.9 million have been distributed. Some 38% of those grants have gone to Black, Brown or female founders, according to the release.
Besides having a connection to Louisville — or be willing to move to the metro area — applicants must also be a for-profit business; be registered in either Indiana or Kentucky’s Secretary of State office and be in good standing; be developing an “innovation-led product or service” that can create customer demand; and have one founder who is working at least part-time for the business.
In addition, applicants must have no more than $250,000 annual revenue from customers and not received more than $500,000 since it started.
All companies that fit these criteria can apply, but the release does state that tech-forward companies that have a pre-existing intellectual asset and high-growth-potential business models are preferred.
“This year we’ve adapted the Vogt Awards program’s eligibility criteria to include businesses with a minimum viable product (MVP) or prototype,” said Lisa Bajorinas, Vogt Awards program director, in the release. “This adjustment aims to foster rigorous advancement among the selected cohort, ensuring they are at a similar stage of business development.
“The program’s focus is on supporting scalable and potentially venture-backable companies, emphasizing the program's commitment to nurturing innovation across diverse industries and perspectives. This refinement aligns with the program's mission to empower entrepreneurs and drive progress in Louisville’s entrepreneurial ecosystem.”
Note: Bajorinas also serves as the executive director of six Kentucky innovation hubs for the Kentucky Science and Technology Corporation (KSTC).
Award recipients will be announced in July, with the accelerator starting in August. The program will conclude with a demo day on Oct. 10. Last year’s event took place at the Kentucky Derby Museum.
Last year’s winners were Affinna, Feedcoyote, Gammerable, Immersive Hearing Technologies, The Kentucky Hug and My Food My Choice — four of which made the list of our 2024 Startups to Watch.
