LaunchKC grants competition eyes startups hoping to scale in KC; Applications now open
August 10, 2023 | Tommy Felts
When LaunchKC’s next round of grant recipients are announced this fall during Global Entrepreneurship Week, winning startups will receive game-changing exposure in addition to the $50,000 in prize money, said Jon Ruiz.
Jon Ruiz, EB Systems; photo courtesy of Pipeline Entrepreneurs
His venture, EB Systems, was among six winners in 2022 when the popular grants competition was rebooted by LaunchKC after a four-year hiatus with renewed backing from the Missouri Technology Corporation. The program awards $50,000 in non-dilutive grants to each successful finalist, along with access to a host of resources and support services.
“As a company that has been around longer, but remained innovative and lean, LaunchKC was a pathway for us to evolve past custom and consulting projects into distilling our core technology and intellectual property into a highly scalable product,” said Ruiz, co-founder and CEO of EB Systems alongside Brendan Waters.
“While receiving non-dilutable funds is always great, as a bootstrapped and cash flow positive business, something that was just as valuable to us was the exposure,” he continued. “Our issue wasn’t execution, we’ve executed projects with some of the biggest companies in the world, it was getting our foot in the door.”
Connections made through LaunchKC allowed EB Systems to start conversations and projects with some of the biggest companies and organizations in Kansas City, Ruiz said, which will allow the startup to “keep executing, scaling, and when we’re ready raise funding at our desired valuation.”
Applications for the 2023 grants competition — expected to culminate Nov. 14 at an event during Global Entrepreneurship Week Kansas City — are open now. The deadline to apply is Sept. 17.
Jon Ruiz, EB Systems, presents his startups to Missouri state lawmakers during a session organized by LaunchKC; photo courtesy of EB Systems
LaunchKC officials are already conducting a nationwide search for innovative and diverse early-stage startups looking to scale their businesses.
Qualified companies — which must be located in Kansas City, Missouri, or be willing to relocate to KCMO — will have their applications evaluated by a panel of reviewers comprised of LaunchKC staff, industry experts, entrepreneurs, past grant recipients, and business leaders.
Selection emphasis will be placed on tech companies with high-growth potential that prioritize equitable business practices and see Kansas City as an ideal home for their business, organizers said.
Reviewers will narrow the pool of applicants through three rounds of judging. In the final round, about 20 applicants will participate in in-person interviews. As many as eight of the finalists will be selected and announced at the GEWKC event.
“We understand the power of local companies and believe that every startup has the potential to be the next big economic engine, job creator or KC headquarters,” said Jim Erickson, director of strategic initiatives for the Economic Development Corporation of Kansas City, which coordinates LaunchKC with the Downtown Council. “With nearly 100 local volunteers willing to help with the competition’s selection process, business mentoring and more, we know the community is behind this effort just as much as we are.”
Since the first grants competition in 2015, LaunchKC has supported more than 100 companies and collectively, those companies have attracted more $250 million in follow-on capital, organizers said, noting more than two-thirds of companies who have participated in LaunchKC programming are women and/or minority-led.
“After being back for just a year now, the startups we’re helping are hiring local talent, building a strong pipeline for economic growth, and we’re looking forward to welcoming even more,” said Becca Castro, strategic initiatives manager for EDCKC and a core organizer of the grants competition.
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