Blue North today announced that it has received a $30,000 grant from Truist Foundation to support the NKY Entrepreneur Fund. The grant from Truist Foundation will help the NKY Fund expand its partnership with Main Street Ventures to increase the number of Northern Kentucky-based startups and small businesses that receive grants to build and scale their companies.
“We are incredibly grateful to Truist Foundation for their support and belief in our mission,” said Dave Knox, Executive Director of Blue North. “This grant will enable us to make a substantial impact on the entrepreneurial ecosystem in Northern Kentucky through the NKY Entrepreneur Fund, which helps startups to thrive and contribute to the economic vitality of our state.”
The NKY Entrepreneur Fund is focused on supporting Northern Kentucky-based entrepreneurs and organizations, including startups, support organizations, educational vehicles, and accelerators. A partnership with Cincinnati-based Main Street Ventures was the inaugural initiative launched by the NKY Entrepreneur Fund in 2023 through the support of the R.C. Durr Foundation.
In the first year of the partnership, Main Street Ventures’ financial support of Northern Kentucky entrepreneurs increased from 8% of funding in previous years to 34% of funding in 2023. In total, 23 companies received nearly $366,000 in grants, with half of that fund supported by the NKY Entrepreneur Fund. Companies that received support in 2023 include:
• Golden Gelato (Covington) received a grant to purchase a new authentic Italian gelato cart for events and
catering.
• 4 Mile Wine (Camp Spring) used its grant to make capital investments in inventory and point of purchase sales
materials.
• Body Bakery (Newport) purchased equipment to improve speed and capacity of production through its grant.
• Bailout Systems (Covington) leveraged its grant to cover prototype materials and machining costs.
Main Street Ventures recently announced the first recipients of 2024 grants including 3 companies supported by the NKY Entrepreneur Fund.
“Truist is committed to fostering economic development and supporting innovative ventures and startups across Northern Kentucky,” said Billy Santos, Ohio & Northern Kentucky market president for Truist. “We believe in Blue North and the NKY Entrepreneur Fund’s mission and are excited to see how this grant will empower local entrepreneurs, drive job creation, and contribute to the growth and vibrancy of the region’s entrepreneurial ecosystem.”
