The Community Foundation of Louisville’s Vogt Invention & Innovation Awards offers entrepreneurs in the Louisville region a unique and exciting opportunity to take their businesses to the next level.
Donor Name: Community Foundation of Louisville
State: Indiana, Kentucky
County: Selected Counties
Type of Grant: Awards and Prizes
Deadline: 05/28/2024
Size of the Grant: $10,000 to $100,000
Grant Duration: Grant Duration Not Mentioned
Details:
Funding Information
Each year, up to six early-stage businesses receive $25,000.
Eligibility Criteria
If you do NOT meet these criteria, please visit Amplify Louisville for access to other business startup assistance:
- The business is a for-profit entity.
- The business is headquartered in the 13-county Louisville Metro area (MSA):
- Indiana – Clark, Floyd, Washington, Scott and Harrison counties
- Kentucky – Bullitt, Henry, Jefferson, Nelson, Oldham, Shelby, Spencer and Trimble counties
- The business is registered with either the Indiana or Kentucky Secretary of State and in good standing (business can be organized in another state, e.g.: Delaware).
- The business is beyond the concept/idea stage and has an early prototype of the technology.
- The business is developing an innovation-led product or service. The Vogt Awards define innovation as a new idea or the invention of a new product or service that creates customer demand.
- The business is in the early stages, with customer revenue less than $250,000/year to date.
- The business has a lifetime funding maximum of $500,000 (this includes grants, investments, and loans but excludes founders’ personal investments).
Applications will be given stronger consideration by the Selection Committee if these aspects are included and well-described in a founder’s application:
- The business is leveraging technology, making use of new advances in technology for the purpose of better serving customers, gaining a competitive advantage, and/or evolving the marketplace.
- The business is leveraging technology in a new, unique, or original way to develop a new product or service.
- The product or service being developed has a protectable advantage (intellectual asset) in the market.
- The business is developing a business model that is scalable — revenue has the potential to grow quickly, along with improving profitability.
- The product or service being developed doesn’t require a long regulatory approval cycle (for example, companies working on a new drug may be excluded).
For more information, visit Community Foundation of Louisville.
