Grants competition returning with $55K for each winner; LaunchKC Liftoff applications open Aug. 14

LaunchKC leaders’ hopes and expectations for the popular competition’s grant-winning entrepreneurs go far beyond their final pitches, said Jim Erickson.

Jim Erickson, Economic Development Corporation of Kansas City, Missouri (EDCKC), gives a presentation on LaunchKC during 1 Million Cups Kansas City at the Offices at Park 39; photo by Taylor Wilmore, Startland News

“We want all of them to grow and prosper. We want, in 20 to 30 years, for us to be able to drive downtown and see skyscrapers with LaunchKC companies’ names on it, having driven the economy forward for our city,” said Erickson, director of strategic initiatives for The Economic Development Corporation of Kansas City, Missouri (EDCKC).

Applications for LaunchKC Liftoff — an annual tech startup competition that offers up to seven early-stage tech startups a chance to win $55,000 in non-dilutive grants, downtown real estate, business support, networking, and more to grow their businesses — opens Aug. 14.

Designed as a “light accelerator,” Erickson said, LaunchKC is a collaboration between organizers at the EDCKC and Downtown Council (DTC). It’s open to tech-enabled startups currently in or willing to relocate to KCMO and that are post-MVP (Minimum Viable Product) but have less than $1 million in revenue. 

“The hope is that we can fund companies; we can support their growth; we can help their success, and then we can also return them here in Kansas City in the long term,” said Erickson.

A slide from a LaunchKC presentation during 1 Million Cups Kansas City at the Offices at Park 39; photo by Taylor Wilmore, Startland News

LaunchKC has broadened its definition of “tech” to include a wider array of startups that take innovative approaches to traditional business models, he added. The program’s quarterly programs cover business basics and how Kansas City supports entrepreneurs, including mentorship and the Innovation Lounge, which connects startups with larger corporations to foster growth.

“We’re looking for something that can be scaled — something that in the coming years, we can see this adding headcount, more significant investment in Kansas City,” said Erickson.

Winning startups that make it through LaunchKC Liftoff are expected to be announced Nov. 19 during the LaunchKC Libations + Liftoff event at J Rieger. & Co. — opening Global Entrepreneurship Week-Kansas City 2024 with an evening of cocktails, appetizers, and a showcase of Kansas City’s entrepreneurial talent.

Applications for LaunchKC Liftoff can be submitted at launchkc.org through Sept. 16.

LaunchKC attendees celebrate winners at the 2023 Libations + Liftoff event at J. Rieger & Co. distillery; photo by Nikki Overfelt Chifalu, Startland News

LaunchKC’s application platform — developed by a company within its portfolio, Cyphr — ensures a streamlined process, Erickson noted.

“(Cyphr) is going to pilot it and send it out nationwide for accelerator use, we are their guinea pig, and it is a fantastic platform,” he said, “It’s going to help us go from several hundred applicants that probably shouldn’t have applied to a very minimal amount.”

ICYMI: This emerging fintech powerhouse is on a roll; how Cyphr models what’s possible with the right backing 

Jannae Gammage, Cyphr (formerly Foresight), gives her pitch during a November 2024 LaunchKC showcase; photo by Tommy Felts, Startland News

Having returned from a four-year hiatus in 2022, LaunchKC has significantly boosted Kansas City’s entrepreneurial scene since it first debuted in 2015, said Erickson.

The program has supported more than 110 companies, attracted $420 million in follow-on capital, and created 1,150 jobs, according to LaunchKC data.

“We love to show this to our stakeholders, the city, the state, to remind them that entrepreneurship is economic development and that our economy really is boosted by entrepreneurs,” Erickson said.

Advocates of the program also highlight LaunchKC’s commitment to diversity and inclusion among its strengths, noting that more than two-thirds of participating companies are women- and/or minority-owned.

“We have really looked at this as a fantastic equity strategy for economic development,” Erickson said. “We have found a lot of different talented entrepreneurs from all corners of our city.”

Blake Herron, Raven Space Systems, delivers his pitch in November 2023 at the LaunchKC Liftoff celebration during Global Entrepreneurship Week-Kansas City; photo by Nikki Overfelt Chifalu, Startland News

Companies that focus on outside-the-box, forward-facing solutions also fare best when competing for LaunchKC’s coveted grant funding, he said, noting Raven Space Systems, a member of the 2023 cohort and one of Startland News’ Kansas City Startups to Watch in 2024.

“They have created a product that 3D prints a re-entry capsule that lowers the cost of space travel,” Erickson said. “This is the kind of innovation we’re proud to support right here in Kansas City.”

ICYMI: Learn more about all the 2023 LaunchKC grant winners, including Cyphr (formerly Foresight) and Raven Space Systems.