State investment leverages $6.6M in federal funding to accelerate innovation and high-wage job growth
FRANKFORT, KY (Feb. 26, 2026) — Governor Andy Beshear announced that eight Kentucky technology companies will receive a combined $862,479 in state matching grants to support research, commercialization, and the creation of high-wage jobs across the commonwealth.
The awards are part of Kentucky’s nationally recognized Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) Matching Funds Program, administered by KY Innovation. The state funds will partially match $6.6 million in federal SBIR/STTR awards, significantly amplifying investment into Kentucky’s growing innovation economy.
“Investing in innovative companies today creates the high-wage jobs of tomorrow,” Gov. Beshear said. “Team Kentucky is committed to supporting the entrepreneurs and innovators who are building the future of our state.”
Supporting High-Tech Growth Across Multiple Industries
The eight award recipients represent a diverse cross-section of Kentucky’s advanced technology ecosystem — from medical devices and biotechnology to advanced materials, environmental innovation, and industrial sensing technologies.
Awarded Companies Include:
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CreoSalus Inc. (Louisville)
Developing an innovative convection-enhanced delivery catheter to improve therapeutic coverage for glioblastoma (GBM) tumors. -
EndoNavis LLC (Louisville)
Advancing single-use, low-profile endoscopic technology to improve treatment of upper gastrointestinal bleeding associated with cirrhosis. -
Fibonacci LLC (Murray) (dba HempWood)
Manufacturing engineered hemp-fiber wood products as a durable, lower-emission alternative to traditional hardwoods for interior applications. -
PGXL Technologies LLC (Louisville)
Partnering with the University of Louisville Research Foundation to develop a rapid, noninvasive urine test kit for pediatric obstructive sleep apnea detection. -
Santerre LLC (Paducah)
Converting invasive Asian carp into sustainable organic fertilizer, reducing ecological impact and lowering energy demands compared to synthetic fertilizer production. -
Thermisoln LLC (Lexington)
Designing advanced post-combustion CO₂ capture technology to improve energy efficiency at coal-fired power plants while upcycling gypsum waste into valuable industrial materials. -
Wild Dog Physics LLC (Lexington)
Creating next-generation quality assurance devices to expand access to accurate radiation therapy in underserved communities. -
ZDC Tech Ltd. Co. (Lexington)
Developing high-temperature humidity sensors capable of operating in harsh food-processing environments up to 300°C.
Leveraging Federal Dollars for Long-Term Economic Impact
Kentucky’s SBIR/STTR Matching Funds Program provides nondilutive capital to early-stage technology companies, helping bridge the gap between research and commercialization while strengthening the state’s innovation pipeline.
Since its inception, the program has:
- Issued 353 matching awards to 161 companies
- Leveraged $179.77 million in federal funding
- Generated $7.50 in federal or private investment for every $1 in state funds
- Supported the creation of 781 high-paying jobs, with 91% paying over $50,000 annually
- Produced 243 patents
- Generated more than $145 million in sales and licensing revenue
David Brock, Executive Director of KY Innovation, emphasized Kentucky’s competitive position in attracting and retaining science and technology startups:
“Kentucky sets itself apart with its commitment to supporting high-potential startups at critical stages of development. The result is more innovation, more high-skill jobs, and more investment flowing into our economy.”
Strengthening Kentucky’s Innovation Economy
The SBIR/STTR awards build upon what state leaders describe as the strongest six-year period of economic growth in Kentucky’s history. By combining state-level support with federal research funding, Kentucky continues to position itself as a competitive destination for advanced technology commercialization, high-wage employment, and research-driven entrepreneurship.
For more information about Kentucky’s SBIR/STTR Matching Funds Program, visit kyinnovation.com/sbir.
