Mayor Linda Gorto, City of Lexington | City of Lexington website
Mayor Linda Gorto, City of Lexington | City of Lexington website
The Bluegrass AgTech Development Corp (BADC) has announced the opening of applications for its second round of Challenge Grants. The initiative aims to attract agtech and food-based businesses to Kentucky, fostering economic growth in these sectors.
Mayor Linda Gorton emphasized the significance of this development, stating, “We’re on our way to becoming the international address of agtech business. These businesses will bring good-paying jobs, while strengthening our agricultural and technology sectors.” The grant competition is open to registered startups that can potentially enhance food and agricultural economic opportunities within the state.
Bluegrass AgTech Development Corp is a collaboration between Lexington-Fayette County, the Kentucky Department of Agriculture along with its Kentucky Agricultural Development Fund, the University of Kentucky Martin-Gatton College of Agriculture, Food and Environment, and Alltech.
Dr. Mark Lyons, president and CEO of Alltech, remarked on the state's promising future in agtech: “As a proud Kentucky company, we see a bright future for the state’s thriving agtech ecosystem, which is already a center of innovation and growth. The Challenge Grant program further strengthens this landscape, creating valuable opportunities to drive the creation of technologies that will shape the future of agriculture.”
Eligible applicants can apply for up to $100,000 in grant funding. Selected recipients will also receive resource support including mentorship and connections with local growers and research teams.
Bob Helton, executive director of BADC, highlighted the potential impact of these grants: “This is an exciting time for Kentucky’s AgTech community. The recipients of our Challenge Grants have the potential to make a significant impact across the state. We’re already seeing impressive progress from the 2023-2024 Challenge Grant awardees, and we eagerly anticipate reviewing the upcoming applications for the next round.”
In August last year, BADC awarded its first round of Challenge Grants totaling $625,000 to seven businesses including five from Lexington: Hempwood, Iristrac, Sunflower Fuels, Parasight Systems Inc., RedLead Biologics, Lepidext Inc., and Spirited Biomaterials.
Applicants are required to provide matching contributions equal to their proposed project costs. Applications are available online starting today until March 1st next year.
Further details about the 2024-2025 BADC Challenge Grant Application process can be found at bluegrassagtech.org.
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