Kentucky Science And Technology Corporation

TO CREATE AN INNOVATION-DRIVEN, ENTREPRENEURIAL ECONOMY IN KENTUCKY.

EDUCATION PROGRAMS-ADVANCEKENTUCKY IS A PROGRAM DESIGNED TO FUND TRAINING AND INCENTIVES FOR ADVANCED PLACEMENT (AP) AND PRE-AP COURSES IN MATH, SCIENCE, AND ENGLISH IN KENTUCKY HIGH SCHOOLS. THE PROGRAM PROVIDES EXTENSIVE TRAINING OF TEACHERS, IDENTIFICATION AND CULTIVATION OF LEAD TEACHERS, AND EXTENDED TIME ON TASKS FOR STUDENTS AND FINANCIAL INCENTIVES BASED ON ACADEMIC RESULTS TO EXPAND THE NUMBER OF KENTUCKY STUDENTS FROM ACROSS THE STATE TAKING AND EXCELLING IN THE VARIOUS MATH, SCIENCE, AND ENGLISH AP EXAMS.IN ADDITION TO VARIOUS FEDERAL AND STATE FUNDING SOURCES, KSTC ALSO RECEIVES FINANCIAL AND NONFINANCIAL SUPPORT FROM PRIVATE ORGANIZATIONS SUCH AS COLLEGE BOARD AND CODE.ORG. THE COLLEGE BOARD IS A PRIVATE, NON-PROFIT ORGANIZATION THAT PARTNERS WITH KSTC TO INCREASE THE AVAILABILITY OF COMPUTER SCIENCE COURSES BY OFFSETTING THE COSTS OF RECRUITING AND TRAINING INSTRUCTORS ON TEACHING AN ADVANCED PLACEMENT COMPUTER SCIENCE PRINCIPLES COURSE TO HIGH SCHOOL STUDENTS. CODE.ORG IS A PRIVATE, NON-PROFIT ORGANIZATION THAT WORKS WITH KSTC TO HELP OFFSET THE COSTS OF RECRUITING AND TRAINING INSTRUCTORS ON TEACHING A COMPUTER SCIENCE FUNDAMENTALS COURSE TO ELEMENTARY STUDENTS AND A COMPUTER SCIENCE DISCOVERIES COURSE TO MIDDLE SCHOOL STUDENTS.VETERAN'S ACCELERATED LEARNING FOR LICENSED OCCUPATIONS (VALLO) WAS FUNDED BY THE U.S DEPARTMENT OF LABOR EMPLOYMENT AND TRAINING ADMINISTRATION OFFICE. THIS PROGRAM WORKED WITH STATEWIDE LICENSING BOARDS AND POST-SECONDARY TRAINING INSTITUTIONS TO IDENTIFY OPPORTUNITIES TO STREAMLINE THE OCCUPATIONAL LICENSING PROCESS AND DEVELOP NEW ACCELERATED LEARNING PROGRAMS FOR THE PURPOSE OF HELPING VETERANS TRANSITION INTO CIVILIAN OCCUPATIONS QUICKER AND WITH LESS OBSTRUCTION. THIS GRANT EXPIRED ON SEPTEMBER 30, 2022.VETERAN'S ACCELERATED LICENSURE OCCUPATIONAL RECRUITMENTS (VALOR) IS FUNDED BY THE COMMONWEALTH OF KENTUCKY'S DEPARTMENT OF LOCAL GOVERNMENT. THIS PROGRAM IS A STATESPONSORED CONTINUATION OF THE VALLO PROGRAM. IT WORKS WITH STATEWIDE LICENSING BOARDS AND POSTSECONDARY TRAINING INSTITUTIONS TO IDENTIFY OPPORTUNITIES TO STREAMLINE THE OCCUPATIONAL LICENSING PROCESS AND DEVELOP NEW ACCELERATED LEARNING PROGRAMS FOR THE PURPOSE OF HELPING VETERANS TRANSITION INTO CIVILIAN OCCUPATIONS QUICKER AND WITH LESS OBSTRUCTION.

KENTUCKY SPACE PROGRAMSKENTUCKYSPACE IS A JOINT - ENTERPRISE INVOLVING PUBLIC ORGANIZATIONS, PRIVATE COMPANIES, COLLEGES, AND UNIVERSITIES IN THE STUDENT - DRIVEN DESIGN, BUILD, LAUNCH, AND ON-ORBIT OPERATIONS OF SMALL SATELLITES FOR INNOVATION AND LEARNING PURPOSES. ITS MISSION IS TO PROVIDE STUDENTS WITH REAL-TIME LEARNING IN THE DYNAMICS OF SPACECRAFT DESIGN, CONSTRUCTION, TESTING, AND ON-ORBIT OPERATIONS AS A MEANS OF EXTENDING SCIENCE AND TECHNOLOGY EDUCATION, RESEARCH AND DEVELOPMENT, AND INNOVATION.

ECONOMIC DEVELOPMENT PROGRAMSTHE KNOWLEDGE-BASED ECONOMY (KBE) FUNDS ARE A SERIES OF INVESTMENT FUNDS AIMED AT PROMOTING AND CAPITALIZING EARLY-STAGE TECHNOLOGY COMMERCIALIZATION IN THE COMMONWEALTH OF KENTUCKY. KBE WAS ADMINISTERED BY KSTC AND FUNDED BY THE STATE THROUGH A CONTRACT WITH THE COUNCIL ON POSTSECONDARY EDUCATION. THE FUNDS WERE DEDICATED TO INCREASING THE NUMBER OF HIGH TECHNOLOGY COMPANIES AND PRODUCTS IN KENTUCKY. COMPONENTS OF THIS PROGRAM INCLUDED THE KENTUCKY ENTERPRISE FUND PROGRAM, THE RURAL INNOVATION PROGRAM, AND THE KENTUCKY COMMERCIALIZATION PROGRAM. IN APRIL OF 2018 KENTUCKY'S LEGISLATURE TRANSFERRED THE FUNDING AND ADMINISTRATION OF THESE PROGRAMS FROM THE COUNCIL OF POSTSECONDARY EDUCATION (CPE) TO THE CABINET FOR ECONOMIC DEVELOPMENT (CED) FOR THE BIENNIUM BEGINNING JULY 1, 2018. IN MAY, 2020, CED AND KSTC ENTERED A CONTRACT TO ADMINISTER THE KBE PROGRAM AND CONTINUE MAKING INVESTMENTS IN EARLY-STAGE KENTUCKY COMPANIES UNDER THE KBE PROGRAMS.THE PROCUREMENT AND TECHNICAL ASSISTANCE (PTAC) PROGRAM IS FUNDED BY THE DEFENSE LOGISTICS AGENCY (DLA) OFFICE OF SMALL BUSINESS. PTAC'S OBJECTIVE IS TO WORK IN COOPERATION WITH STATES, LOCAL GOVERNMENTS AND BOTH PROFIT AND NONPROFIT ORGANIZATIONS TO EXPAND THE NUMBER OF BUSINESSES CAPABLE OF PARTICIPATING IN GOVERNMENT CONTRACTS. THE PTAC PROGRAM ALSO RECEIVES FINANCIAL SUPPORT FROM CED AND AN APPALACHIAN REGIONAL COMMISSION (ARC) POWER GRANT ADMINISTERED THROUGH THE NON-PROFIT ORGANIZATION, SOUTHEAST KENTUCKY ECONOMIC DEVELOPMENT ("SKED"). ITS PURPOSE IS TO PROVIDE TECHNICAL ASSISTANCE TO MANUFACTURERS AND OTHER BUSINESSES SEEKING TO IMPROVE THEIR PROFITABILITY THROUGH INNOVATION AND MORE EFFICIENT OPERATION.KENTUCKY ALTERNATIVE FUEL & RENEWABLE ENERGY FUND PROGRAM (AFRE) WAS FUNDED BY THE COMMONWEALTH OF KENTUCKY FOR KSTC TO ADMINISTER THE KENTUCKY ALTERNATIVE FUEL & RENEWABLE ENERGY FUND PROGRAM. THE PURPOSE OF THE PROGRAM WAS TO ACCELERATE KNOWLEDGE TRANSFER AND TECHNOLOGICAL INNOVATION, IMPROVE ECONOMIC COMPETITIVENESS AND ECONOMIC GROWTH OF KENTUCKYBASED COMPANIES, AND TO SUPPORT R & D ACTIVITIES THAT HAVE A CLEAR POTENTIAL TO LEAD TO COMMERCIALLY SUCCESSFUL PRODUCTS, PROCESSES, OR SERVICES SPECIFICALLY IN THE AREA OF ALTERNATIVE FUELS OR RENEWABLE ENERGY. THE PROGRAM WAS TERMINATED UNDER KRS 154.20-410 ON JULY 1, 2022. ON DECEMBER 7, 2022, PER THE STATUE, ALL FUNDS, GRANTS, INVESTMENTS, UNALLOCATED OR UNENCUMBERED BALANCES, RIGHTS, CONTRACTUAL RIGHTS AND OBLIGATIONS, AND EARNED INCOME, INCLUDING $362,660, WERE TRANSFERRED TO THE KENTUCKY ENTERPRISE FUND.LT. GOVERNOR'S ENTREPRENEURIAL CHALLENGE (LGEC) IS FUNDED THROUGH A COMBINATION OF STATE GOVERNMENT GRANTS AND PRIVATE SECTOR DONATIONS. IT IS A TIERED BUSINESS PITCH COMPETITION FOR ALL KENTUCKY HIGH SCHOOL STUDENTS GRADES 9-12. IT IS INTENDED TO INTRODUCE STUDENTS TO A REALISTIC COMPETITIVE BUSINESS ENVIRONMENT, AS WELL AS PROMOTE BUSINESS OWNERSHIP AND LIFELONG LEARNING. IN AUGUST 2019, KSTC ENTERED INTO AN AGREEMENT WITH THE LIEUTENANT GOVERNOR'S OFFICE TO ADMINISTER ALL REMAINING AWARDS FOR THE 2017, 2018 AND 2019 LGEC PROGRAMS.

RESEARCH AND DEVELOPMENT PROGRAMSKENTUCKY SBIR/STTR MATCHING FUNDS PROGRAM. IN FEBRUARY 2018, THE CABINET FOR ECONOMIC DEVELOPMENT (CED) NOTIFIED KSTC THAT CED WOULD BEGIN ADMINISTERING THE KENTUCKY SBIR/STTR MATCHING FUNDS PROGRAM WITHIN THE CABINET YET REQUESTED KSTC CONTINUE TO ADMINISTER "LEGACY AGREEMENTS" BETWEEN KSTC AND PRIOR PROGRAM RECIPIENTS WHERE BILATERAL OBLIGATIONS STILL EXISTED. CONSEQUENTLY, CED ISSUED A CONTRACT TO KSTC FOR THE MANAGEMENT OF THE "LEGACY AGREEMENTS". CED CONTINUED TO CONTRACT WITH KSTC ANNUALLY FOR THE MANAGEMENT OF THOSE BILATERAL OBLIGATIONS. THE MOST RECENT MANAGEMENT CONTRACT COVERS THE PERIOD OF JULY 1, 2021, THROUGH JUNE 30, 2022. WITH THE EXCEPTION OF THESE "LEGACY AGREEMENTS", KSTC NO LONGER MANAGES THE KENTUCKY SBIR/STTR MATCHING FUNDS PROGRAM.THE ESTABLISHED PROGRAM TO STIMULATE COMPETITIVE RESEARCH (EPSCOR) ADMINISTRATION FROM THE COUNCIL ON POSTSECONDARY EDUCATION (CPE) REPRESENTS STATE FUNDS UNDER THE KENTUCKY INNOVATION ACT (KIA) FOR THE COORDINATION AND DEVELOPMENT OF EPSCOR. IN APRIL OF 2018 KENTUCKY'S LEGISLATURE TRANSFERRED THE EPSCOR'S FUNDING AND ADMINISTRATION FROM THE COUNCIL OF POSTSECONDARY EDUCATION ("CPE") TO THE CABINET FOR ECONOMIC DEVELOPMENT ("CED") FOR THE PERIOD BEGINNING JULY 1, 2018. KSTC CONTINUED TO ADMINISTER THE EPSCOR PROGRAM THROUGH JUNE 30, 2018. ON JULY 1, 2018, ADMINISTRATION OF THE EPSCOR PROGRAM WAS TRANSFERRED BY KSTC TO CED. AS OF SEPTEMBER 30, 2022, KSTC HELD $198,916 OF REMAINING ACCUMULATED FUNDS IN TRUST ON BEHALF OF THE COMMONWEALTH. ON JANUARY 19, 2023, AT THE DIRECTION OF CED, $198,435 CONSISTING OF THE ACCUMULATED BALANCE AT SEPTEMBER 30, 2022 PLUS OR MINUS INTEREST AND BANK FEES, WAS TRANSFERRED TO THE UNIVERSITY OF KENTUCKY.THE KENTUCKY SCIENCE AND ENGINEERING FOUNDATION (KSEF) MISSION IS TO BUILD SCIENCE AND ENGINEERING CAPACITY AND EXCELLENCE BY INVESTING IN BASIC AND PRE-COMMERCIAL EMERGING RESEARCH AND DEVELOPMENT, TECHNOLOGICAL INNOVATION AND TRANSFER, AND HUMAN RESOURCE DEVELOPMENT IN KENTUCKY. IN APRIL OF 2018 KENTUCKY'S LEGISLATURE TRANSFERRED THE FUNDING FOR KSEF FROM THE COUNCIL ON POSTSECONDARY EDUCATION (CPE) TO THE CABINET FOR ECONOMIC DEVELOPMENT (CED) FOR THE BIENNIUM BEGINNING JULY 1, 2018.