COVINGTON, Ky. -- Becoming an entrepreneur is no easy task, but those who live in Northern Kentucky can find resources and assistance thanks to free programs and services funded through NKY Innovation.
Seventeen years ago, the Kentucky Innovation Act was passed to boost economic growth throughout the state. There are now 12 companies that specialize in helping entrepreneurs and business owners, including one in the Tri-State. Since its founding in 2001, NKY Innovation in Covington has served more than 630 entrepreneurs from 11 counties.
"It's truly a great resource for anyone wanting to learn more about business, to take their idea to the next level or looking for other like-minded business owners to connect with," said Director Casey Barach.
One-on-one sessions, classes and events are provided by the state in connection with local economic development organization Tri-ED.
NKY Innovation operated under the name ezone until 2012. That's because the 12 entrepreneurial programs created after the Kentucky Innovation Act were encouraged to create their own business names and branding. It was important that each resonated with its community because half of all funding initially came from there. However, the services provided by NKY Innovation have always been free.
The street festival UPSTART gives business owners the chance to mingle and hear live music. The event, held by the Kentucky Innovation Network at Northern Kentucky (NKY Innovation), will be held this year on Oct. 11. (Photo provided)
Anyone looking to start a business, operating one or seeking advice for a new idea can take advantage of the programs and services of NKY Innovation.
Northern Kentucky residents who seek help from NKY Innovation first meet for a consultation, where team members review "ABC steps."
B stands for business planning, with the intention of figuring out how a business or idea will be pitched to a customer. C focuses on capital, with help to find sources of funding.
After assessing needs, NKY Innovation will recommend specific tasks, whether finding investment capital or connecting the business owner with like-minded people.
NKY Innovation has assisted more than 360 companies and brought in more than $164 million in investments to Northern Kentucky. To raise awareness about its programs and services, it hosts two special events every year.
UPSTART, in its fifth year, lets business owners mingle with other passionate entrepreneurs in a street party setting. The free event includes live music, beer and food.
"Last year we had over 500 people attend. There were a lot of local businesses there, and it was really a great time," said Barach.
This year's event will be at 4 p.m. Oct. 11 at 1 Innovation Alley in Covington.
The second NKY Innovation event is held in the spring and focuses on business topics. This year, for example, the theme was "The WriterPreneur," with marketing strategies for those interested in publishing.
For more information about NKY Innovation, visit the company's website.
