KENTUCKY SCIENCE AND TECHNOLOGY CORP

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.