Overview
What is Commonwealth Center For Commercialization Inc?
Commonwealth Center for Commercialization Inc is a nonprofit organization situated in Frankfort, Kentucky, with a team of three individuals. Their primary mission is to collaborate with Kentucky's public universities and colleges, facilitating the transformation of ideas and intellectual property into successful businesses through investment. They have a commercialization core team, robust legal resources for businesses, an accelerator program, and assistance with federal and state innovation funds. The organization reviews applications, qualifies companies, and certifies eligible ones to benefit from various Kentucky funds, such as the Kentucky Enterprise Fund, the Kentucky Rural Innovation Fund, and the Kentucky Commercialization Fund. Their aim is to stimulate economic growth and create employment opportunities within the Commonwealth of Kentucky by supporting science and technology invention and entrepreneurship in small and medium-sized Kentucky-based companies.
Official website here: www.c3.kyinnovation.com
Is Commonwealth Center For Commercialization Inc legitimate?
Commonwealth Center For Commercialization Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Commonwealth Center For Commercialization Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $30,868
For more financial information, click here
Official website here: www.c3.kyinnovation.com
What is the mission statement of Commonwealth Center For Commercialization Inc?
The Commonwealth Center for Commercialization Inc serves as a strategic partner with Kentucky's public universities and colleges, aiming to transform innovative ideas and intellectual property into products and businesses through investment. The organization operates with a commercialization core team, develops robust legal resources for businesses, and manages an accelerator program, along with providing assistance from federal and state innovation funds. Its mission aligns with a national model of statewide collaboration, supporting and accelerating science and technology invention and entrepreneurship across Kentucky, providing capital investments to small and medium-sized businesses in the state. It administers initiatives and programs under the Kentucky Innovation Act, such as the Kentucky Enterprise Fund, the Kentucky Rural Innovation Fund, and the Kentucky Commercialization Fund.
Official website here: www.c3.kyinnovation.com
Who is the CEO of Commonwealth Center For Commercialization Inc?
Brian Mefford is the Director & Treasurer of Commonwealth Center For Commercialization Inc.
Official website here: www.c3.kyinnovation.com
What is the revenue of Commonwealth Center For Commercialization Inc?
Commonwealth Center For Commercialization Inc's revenue in 2020 was $43,428.
Official website here: www.c3.kyinnovation.com
Who are the executives of Commonwealth Center For Commercialization Inc and what are their salaries?
The average compensation at Commonwealth Center For Commercialization Inc during 2020 was $10,289. There are 3 employees at Commonwealth Center For Commercialization Inc.
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Official website here: www.c3.kyinnovation.com
Where can I find the form 990 for Commonwealth Center For Commercialization Inc?
Commonwealth Center For Commercialization Inc's most recent form 990 was submitted in 2020 and can be accessed here.
Official website here: www.c3.kyinnovation.com
Learn more at the official website: www.c3.kyinnovation.com
Mission Statement of Commonwealth Center For Commercialization Inc
The Commonwealth Center for Commercialization Inc serves as a strategic partner with Kentucky's public universities and colleges, working tirelessly to transform ideas and intellectual property into viable products and businesses through investment. This organization's mission is to foster and expedite science and technology invention and entrepreneurship across the state of Kentucky. To achieve this, it provides capital investments to small and medium-sized businesses based in Kentucky, while administering the initiatives and programs outlined in the Kentucky Innovation Act, such as the Kentucky Enterprise Fund, the Kentucky Rural Innovation Fund, and the Kentucky Commercialization Fund. By adhering to this mission, the Commonwealth Center for Commercialization Inc represents a notable example of statewide collaboration, satisfying the regulations set forth by the Kentucky Innovation Act Statute.
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Impact
October, 2024
Commonwealth Center for Commercialization Inc significantly impacts the transition of ideas and intellectual property into viable products and businesses in Kentucky. By collaborating with public universities and colleges, the organization serves as a strategic partner that enhances innovation and entrepreneurship across the state. It provides essential support through a commercialization core team, robust legal resources, and funding assistance via programs like the Kentucky Enterprise Fund and the Kentucky Rural Innovation Fund.
The organization evaluates applications and certifies companies poised to develop technically sound projects that can yield measurable results. This filtering process ensures that selected initiatives have the potential for innovative breakthroughs and commercially successful outcomes. Their efforts not only foster the growth of small and medium-sized enterprises but also stimulate economic growth, thereby enhancing employment opportunities within the Commonwealth.
By administering various initiatives under the Kentucky Innovation Act, the Commonwealth Center models a collaborative approach that boosts the state’s innovation ecosystem. This proactive support for science and technology invention positions Kentucky as a competitive player in the landscape of technology commercialization, ultimately driving progress and prosperity in the region.
This information is meant to be a general summary of Commonwealth Center For Commercialization Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2020.
- Investment Income: $43,428
- Gross Receipts: $43,428
Assets and Liabilities:
- Total Assets: $0
- Total Liabilities: $0
- Net Assets: $0
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Organization Details
Founding Year
2018
Phone
(502) 564-7670Principal Officer
Brian Mefford
Main Address
300 WEST BROADWAY ST, FRANKFORT, KY, 40601
Website
www.c3.kyinnovation.comNTEE Category
Code: U02 - Science research
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