The Kansas Department of Commerce is introducing JumpStart Kansas Entrepreneur, a new program that will deliver funding to young and growing companies.
The state is providing $60,000 each to a string of institutions across the state, including K-State’s Advanced Manufacturing Institute and the Bioscience and Technology Business Center at the University of Kansas.
Those programs will then have the ability to award funding to companies as they see fit, though Kansas Commerce must sign off. Recipients must also agree to continue operating in Kansas for a certain amount of time.
The funds could help startups pay for prototyping, moving into a new space or any number of needs.
“We want to target entrepreneurs who do not necessarily have the access or the opportunity to get a jumpstart sort of fund,” said Kansas Commerce Secretary Antonio Soave. “JumpStart Kansas Entrepreneur is early-stage capital. We believe in these Kansas entrepreneurs, and we want to help them succeed in their endeavors, so we are willing to be the first money in.”
While the individual programs have discretion on award amounts and application process, Kansas Commerce is recommending awards in the range of $10,000 to $15,000, said Nicole Randall, the department’s director of communications.
In addition to KU and K-State, the other JumpStart Kansas Entrepreneur partners include:
- Wichita State University (Innovation Campus)
- Pittsburg State University (Center for Economic and Business Development)
- Fort Hays State University
- Emporia State University
- Washburn University
- NetWork Kansas
Kansas Commerce is planning a second phase of JumpStart Kansas Entrepreneur, which will be announced later.
