For decades, Kansas has been very committed to the development of a comprehensive network to support research, facilitate commercialization and to promote the adoption of new technologies in the state. This is evidenced in a myriad of ways, from our ongoing Statewide Broadband Initiative to the work our state’s universities are doing to partner with businesses and commercialize cutting edge research and technology. The state has a variety of tools to support and promote new technology for companies, whether they are in the early stages of their business or more mature in their operations.
SUPPORT FOR INNOVATION AND TECHNOLOGY
In today’s rapidly moving technology economy, entrepreneurs and companies must work quickly to develop technologies before the commercial window of opportunity closes. Innovation Growth Program has the expertise and resources to help speed up the development process and turn innovative ideas into marketable products.
The Program was created on July 1, 2011 as a partnership between the Kansas Department of Commerce and the statewide network of organizations that were part of the network operated by the former Kansas Technology Enterprise Corporation. While the program exists to help entrepreneurs and companies, its ultimate goal is to bring new technology jobs to the state of Kansas.
Innovation Growth Partners provide a range of services that help accelerate the success of innovative technology companies. These services range from preparing entrepreneurs to approach capital partners to forming joint ventures and new companies around technologies and expertise housed at state universities. The partners, independent 501(c) 3 non-profit corporations, are partnerships between Innovation Growth Program, the community and/or the local research university. The partners are linked to regional angel networks and most have local pre-seed capital funds:
In addition to access to seed capital, the Innovation Growth Program provides business assistance through a network of affiliate organizations. Services include business planning, strategic business development, investor networking, grant and loan application assistance, technical review, market research, intellectual property management and assistance with business negotiations.
- Bioscience Technology and Business Center (BTBC), Lawrence
- Kansas State University Institute for Commercialization (KSUIC), Manhattan
- Wichita Technology Corporation, Wichita
Learn more about Innovation Growth Partners
Additional entrepreneurial resources are also available to Kansas companies. Resources included are for SBIR programs, inventors, small businesses and entrepreneurs.
Learn about additional entrepreneurial resources
Entrepreneurship Tax Credit
Taxpayers, including corporations that invest in the Kansas Center for Entrepreneurship, can claim a state tax credit of 75 percent of the amount donated. The minimum investment to claim the tax credit is $250, and the tax credit is limited to a total of $2 million for any fiscal year.
The tax credit is limited to $50,000 per individual contributor per tax year. Funds will be used for awards to regional and community organizations that provide seed capital to qualified entrepreneurs, especially those located in distressed and rural communities. (Schedule K-31, K.S.A. 74-99c09)
Competitive Edge for Manufacturers
The Mid-America Manufacturing Technology Center strives to improve the competitive position of small and mid-sized Kansas manufacturers by helping them grow revenues, improve productivity and expand their capacity.
Learn more about the Mid-America Manufacturing Technology Center
Angel Investment Resources
The Innovation Growth Program is committed to help meet the financing needs of Kansas entrepreneurs by serving as a catalyst to stimulate the flow of private investment capital to promising early stage ventures.
There are several regional networks of angel investors dedicated to identifying and funding promising start-up business opportunities in Kansas.
Learn more about the Angel Networks
Kansas Angel Tax Credits
Kansas income tax credits are available to individuals who provide seed-capital financing for emerging Kansas businesses engaged in development, implementation and commercialization of innovative technologies, products and services.
Angel Investor Tax Credit
The credit is limited to $50,000 per investor for a single qualified Kansas business or a total of $250,000 of tax credits for a single year per investor. If the amount of the credit exceeds the investor’s tax liability in any one taxable year, the remaining portion of the credit may be carried forward until the total amount of the credit is used. The cumulative aggregate amount of angel investor tax credits allowed shall not exceed $6 million for each tax year. The Kansas legislature has authorized $6 million to angel investor tax credits per tax year. This tax credit is slated to expire in 2016. An accredited investor is a natural person or an owner of a permitted entity investor, who is of high net worth, as defined in 17 C.F.R. 230.501(a) as in effect on the effective date of the act. The SEC defines an accredited investor as any natural person whose individual net worth, or joint net worth with that person’s spouse exceeds $1,000,000, or any natural person who had an individual income in excess of $200,000 in each of the two most recent years or joint income with that person’s spouse in excess of $300,000 in each of those years and has a reasonable expectation of reaching the same income level in the current year. (Schedule K-30, K.S.A. 74-8133) Click here for more information.
Learn more about the Kansas Angel Tax Credits
For more information call (785) 296-5298.
ASSISTANCE WITH RESEARCH AND DEVELOPMENT
The Advanced Manufacturing Institute
Kansas State University
The Advanced Manufacturing Institute’s (AMI) purpose is to improve manufacturing by developing new manufacturing technologies and working with manufacturers to implement new technologies. AMI also manages the Manufacturing Learning Center, a product and processes prototyping center established to assist manufacturers in developing new products and upgrading production systems for existing products. AMI has been named by the Great Lakes Wind Network (GLWN) as a Center of Excellence to expand the wind industry supply chain in Kansas. AMI will provide site assessments for manufacturers wishing to enter the wind industry supply chain; make recommendations on possible components to be supplied; and assess manufacturers’ overall production systems. This effort will result in a resource directory of supply chain companies to serve the wind industry. Also, the partnership with GLWN will enable companies that have met suitable criteria to participate in the GLWN Wind Alert System, which informs potential suppliers that an original equipment manufacturer or high-level supplier is sourcing a specific component that they are capable of producing.
The Information and Telecommunication Technology Center
University of Kansas
The Information and Telecommunication Technology Center (ITTC) develops technologies and advances knowledge in the areas of information technology, telecommunications, radar systems and remote sensing. ITTC excels in basic research, technology development and technology transfer through the support of the Department of Commerce, private industry and federal and state programs. Existing companies collaborate with ITTC for research and development, realizing that targeted research reduces costs and improves service to consumers. Fledgling companies seeking to develop new technologies draw on the expertise of faculty, staff and students.
Kansas Polymer Research Center
Pittsburg State University
Kansas Polymer Research Center (KPRC) conducts research and helps Kansas companies solve development and production problems in the field of polymers and plastics. The Center has special expertise in the area of soy-based materials and products.
National Institute for Aviation Research
Wichita State University
National Institute for Aviation Research (NIAR) supports the aviation industry through research and development, testing, certification and technology transfer. The center, which includes 15 research and testing laboratories, provides state-of-the-art equipment, investigators and administrative support to clients in private industry and state and federal government agencies.
SPECIAL HELP FOR MANUFACTURERS
The Mid-America Manufacturing Technology Center (MAMTC), a non-profit subsidiary of the Innovation Growth Program assists manufacturers by improving productivity, quality and sales, as well as by reducing costs. MAMTC is a manufacturing extension center sponsored by the National Institute of Standards and Technology with field engineers that cover the entire state. While MAMTC’s specialty is hands-on technical consultation, other services include the following:
- Seminars and workshops
- LEAN manufacturing
- Vendor and technical information searches
- Assessments and ISO 9000 pre-audits
- Equipment and software demonstrations
- Industry networking groups
- Customized training
- Assistance in locating new facilities or expansion of existing facilities
KANSAS BIOSCIENCE AUTHORITY
The Kansas Bioscience Authority (KBA) was created by the Kansas Economic Growth Act of 2004 to accelerate growth in the bioscience sector. Originally designed to be funded by Kansas income taxes generated by bioscience jobs with a 2019 sunset, KBA has been repositioned as a market-based, self-sustaining venture capital organization with an unlimited future. The KBA invests in agribusiness, animal health, and human health innovations. The team brings deep sector expertise and co-investors together to accelerate bioscience company growth generating results for the entrepreneur, the investor, Kansas and the world.
Agribusiness – KBA invests in disruptive technologies in agriculture, crop science and crop-derived products that provide safe and reliable protein; improves food production; increases yield; leads to new concepts in food storage, microbial control and food processing; and produces sustainable fuels and chemicals that can replace petrochemical derivatives.
Animal Health – located among the world’s largest concentration of animal health and nutrition companies, KBA invests in production and companion animal health innovations. Disruptive technologies that improve food safety, food production, and bring new tools and therapies to animal health are of particular interest. Human health and other biosciences often lead to novel animal health innovations.
Human Health – KBA invests in new medical devices, healthcare IT, and diagnostics that protect and advance human health. KBA looks for investments that will bring these innovations to market in ways that maximize value created by investing at key value inflection points, such as proof of concept development or early commercial success.
With this focus, KBA advances an investment model that serves the entrepreneur, the investor and Kansas:
- The return of, and on, KBA’s investment
- The attraction of external capital
- The creation of high-quality, high-wage jobs
- The commercialization of intellectual property
- The export of goods, services, and technologies to a global market
Visit KansasBIOAuthority.org for more information.
BioKansas is a not-for-profit organization serving the bioscience interests in Kansas. Across the human, plant, animal and industrial biosciences, BioKansas is focused on enhancing the business and research climate and working with leaders across the state to attract and retain bioscience talent, companies and funding.
From Kansas City to Hays, Manhattan to Wichita, and Atchison to Garden City, BioKansas represents the bioscience continuum from the university laboratories to the established pharmaceutical, animal health and crop science companies, and all the entrepreneurial ventures, start-ups and service providers in the heart of the continuum.
BioKansas was founded in 2004 to unify Kansas' bioscience industry, academic research institutions and economic development organizations.
BioKansas is a state affiliate organization of the Biotechnology Industry Organization (BIO). BIO is a national organization representing more than 1,000 biotechnology companies, academic institutions, state biotechnology centers and related organizations in all 50 U.S. states and 33 other nations. BioKansas enjoys the benefits of membership in BIO as well as the Council of State Bioscience Affiliates.
Visit BioKansas.org for more information.