LaunchLNK, a program that helps high-growth startups get established and grow in Lincoln, Neb., is currently recruiting its 2022 cohort of tech startups. Applications are due by December 31 to be considered for one of five startups to receive a $25,000 grant.
The grant is funded by the Lincoln Partnership for Economic Development (LPED), a public-private partnership working towards the economic development goals of Lincoln. The cash comes with the stipulation that recipients will be headquartered in Lincoln for at least one year. It’s a move that LPED hopes will pay dividends, and so far, it seems that’s been the case. Now in its fourth year, LaunchLNK grants have helped provide seed funding for 15 different startups in Lincoln, while companies founded by the program have gone on to employ 40 people and raise an additional $4.5 million in capital, contributing to the startup and Lincoln ecosystem, according to a press release issued by LPED.
“There’s a lot of things coming to fruition. I think it’s probably the best time ever to start a company,” said Christina Oldfather, LPED’s director of innovation & entrepreneurship.
The aim of the grant is to extend a startup’s “runway” as they work to grow their business.
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To help hone their entrepreneurial instincts, founders will also go through an eight-week virtual accelerator program.
“We’re looking for startups that are scalable and have opportunities for high growth. So you know that means likely tech or tech enabled companies,” said Oldfather.
In addition to the cash, startups will have the chance to network with potential investors, providing a foot in the door to possible additional funding, according to LaunchLNK’s website. This checks out. Of the five companies awarded a LaunchLNK grant in 2021, three went on to participate in nMotion’s gBETA accelerator where participating companies receive $1 million dollars in deals and perks.
Past LaunchLNK recipients include Corral and Job Share Connect.
To stay up-to-date on announcements regarding LaunchLNK, including the next round of applications, follow @StartupLNK on Facebook, Twitter and Instagram. More information on the program can be found at www.launchlnk.com
