The Innovation & Commercialization Centers (ICCs) are the only statewide business accelerators in Kentucky focused exclusively on helping entrepreneurs, scientists, and engineers perfect their business strategies. The ICCs are serviced by The Kentucky Science and Technology Corporation under contract with the Department for Commercialization and Innovation.

The concept is simple: To help entrepreneurs with companies that have large market potential raise private equity. Think of the ICC as a virtual incubator, where entrepreneurs and scientists can get assistance in perfecting and maturing their ideas and business concepts. At the core of our service is the ICC Process - a set of detailed steps and guidelines that help entrepreneurs refine their business strategy, financials, investor presentation, concept, and valuation. This detailed framework that an entrepreneur follows creates a professional business package which potential investors can use to quickly and easily assess their level of interest. The Process is built around well-defined steps that result in a solid business concept, valuation of the company, and investor presentation.

The ICC works through its six statewide offices to coordinate local efforts to aggregate investors, employees, mentors, service providers, and other resources so that ideas and capital can make connections throughout the Commonwealth. For the first time, entrepreneurs have open access to ideas, talent, and money. Deals are no longer limited by geography or regional contacts. Companies that follow the ICC standard become part of the "ICC Portfolio." These companies are then introduced to private investors.

As an entrepreneur, ask yourself the following questions:

• Does your company have a large market potential? (e.g. $25M to $50M)
• Are you willing to work hard and take a serious look at your company?
• Are you serious about starting a new economy business?
• Do you understand the steps necessary for starting a business? Do you have a competitive business plan or could you develop one?

The ICC Process was modeled after the best practices of other successful state programs but tailored to meet the needs of Kentucky companies.

The Kentucky ICC Process has two stages:

• Stage 1 focuses primarily on the creation of a competitive business plan, integrated financials, and an elevator pitch.
• Stage 2 will focus on the company valuation and investor pitch, which will be added to the Capital Network where qualified investors can look at the company’s opportunity.

Between Stage 1 and Stage 2, the ICC will determine if the company possesses the qualifications to be a Stage 2 company. A company that completes Stage 1 but doesn’t qualify for Stage 2 in the ICC process is still armed with a potentially much stronger business plan with which to enter into the marketplace.