Access Ventures, Inc
Render Capital
Louisville, KY
Capital Challenge
Federal Share: $300,000
Local Match: $358,072
Access Ventures will launch the Render Capital project through the 2020 Build to Scale: Capital Challenge initiative to provide a dependable pool of first-risk capital to innovative startup ideas with the goal of catalyzing an enduring community of support comprised of mentorship, large corporate assistance, and financial resources. Access Ventures will invest a total of $11.5 million predominantly targeting entrepreneurs and innovative startups that match local industry strengths. More specifically, investment targets will be focused on advanced manufacturing, health innovation, food and beverage, and logistics and technology (including artificial intelligence, data science, and the internet of things). The investments will take the form of equity-based investment with an allocation toward innovative alternatives (such as revenue-based financing).
The purpose of this project is to create a more dynamic and inclusive economy by increasing access to early-stage, risk capital, and expanding capital deployment by increasing awareness of alternatives to equity-based financing in the Greater Louisville region. The grant will support fundraising, fund management, and the education of both investors and entrepreneurs. As a result of the investment activities approximately 42 businesses will receive early-stage investment over a 3-year timeframe and create approximately 179 local jobs.