LEXINGTON, Ky. — Seven businesses have received the first Bluegrass AgTech Development Corp incentive grants, the Lexington-Fayette Urban County Government announced, which encourage agricultural and food-based businesses to locate in Kentucky. 

“We want to become the international address of agtech businesses, and this is an exciting step forward,” said Lexington Mayor Linda Gorton.

Bluegrass AgTech works to cultivate an innovative ecosystem for both entrepreneurs and startups in the agricultural sector. Partners include the City of Lexington, the Kentucky Department of Agriculture and its Kentucky Agricultural Development Fund, the University of Kentucky Martin-Gatton College of Agriculture, Food and Environment and Alltech, a global company that works to improve the health of people, animals and plants through nutrition and scientific innovation. 

Bluegrass AgTech received 29 applications after announcing the grant program in Nov. 2023. Here are the winning companies:

• HempWood
• Iristrac
• Lepidex Inc.
• Parasight System Inc.
• RedLeaf Biologies
• Spirited, Inc.
• Sunflower Fuels 

“The vision for Bluegrass AgTech was developed over four years ago, and the announcement of these awards is a major milestone,” said Nancy Cox, vice president of land-grant engagement and dean of the Martin-Gatton College of Agriculture, Food and Environment.

Through the grant program, Bluegrass AgTech is connecting those in the agricultural industry with both public and private funding sources to attract new agri-food and agri-business companies to Kentucky, helping boost the state's economy while ensuring a more affordable and sustainable food future. 

The grants will provide incentive funding, promotional opportunities and other resources, said Bob Helton, executive director of Bluegrass AgTech Development Corp. Selected recipients will also be offered support such as mentorship, referrals to professional services and other business development assistance. 

“The Bluegrass AgTech grants empower innovators and entrepreneurs, cementing Kentucky's leadership in agricultural innovation," said Jonathan Shell, R-Ky., commissioner of agriculture. 

Applicants could apply for up to $100,000 of grant funding, and the seven recipients received a total of $625,000. It was open to registered, for-profit businesses located in or willing to establish a presence in Lexington or Kentucky. The city of Lexington contributed $1 million to establish the grants, and the state provided $1 million through the Kentucky Agricultural Development Fund.