The Community Foundation of Louisville is now accepting applications for the 24th annual Vogt Invention and Innovation Awards.
These awards provide early-stage businesses with the opportunity to receive a grant of $25,000.
Helping Entrepreneurs Grow
The goal of the Vogt Awards is to help early-stage entrepreneurs develop their products and ideas into viable and successful enterprises that will bring economic and job growth opportunities to Greater Louisville.
In addition to funding, award recipients will participate in a 10-week accelerator program and receive coaching, mentorship, and other opportunities to help grow their new business.
Up to six start-ups will be chosen.
“The Vogt Awards continues to carry out the vision of the Heuser family by providing a platform for growth and mentorship for innovative business founders,” said Ron Gallo, President and CEO of the Community Foundation of Louisville. “Supporting early-stage businesses through the Vogt Awards opens opportunity for invention and economic development in our community.”
How To Apply
Early-stage businesses have until May 28, 2024 to complete this year’s application.
Eligibility requirements include:
- Must be a for-profit business
- Must have headquarters in the 13-county Louisville metro area
- Must be registered with either the Indiana or Kentucky Secretary of State and in good standing
- Is developing an innovation-led product or service, which is a new idea or invention that creates customer demand
- Has received no more than $250,000/year of customer revenue
- Has been funded by no more than $500,000 since its inception
- Has at least one founder; a co-founder is not required
- Has founder(s) who are working in the business at least part-time
Preference will be given to businesses that leverage technology, have products or services that have a protectable advantage (intellectual asset) in the market, and have business models with significant growth potential.
The Community Foundation of Louisville will provide a virtual Vogt Awards Information Session hosted by Program Director Lisa Bajorinas on Thursday, May 9, 2024 from 12:00pm to 1:00pm.
This session will provide early-stage businesses with tips on how to write an outstanding application and information about the program’s eligibility criteria.
Knowledge And Resources
The program is funded by the Vogt Invention and Innovation Fund at the Community Foundation of Louisville.
This endowment was established in 1999 thanks to businessman and philanthropist Henry Vogt Heuser, Sr.
The Fund’s originating $5 million principal is still intact after distributing 108 grants totaling more than $3.9 million, with 38% of those funds going to women or founders of color.
“This year we’ve adapted the Vogt Awards program’s eligibility criteria to include businesses with a minimum viable product (MVP) or prototype,” sad Lisa Bajorinas, Vogt Awards Program Director. “This adjustment aims to foster rigorous advancement among the selected cohort, ensuring they are at a similar stage of business development. The program’s focus is on supporting scalable and potentially venture-backable companies, emphasizing the program’s commitment to nurturing innovation across diverse industries and perspectives. This refinement aligns with the program’s mission to empower entrepreneurs and drive progress in Louisville’s entrepreneurial ecosystem.”
Businesses awarded these funds can tap resources and overcome challenges, such as getting financial loans and connecting to angel investors.
The Vogt Awards program offers them an opportunity to be seen and heard by those who can help move their businesses forward.
Vogt Award recipients will be announced in July and begin the accelerator program in August.
The program culminates on October 10 with Demo Day, where each business owner pitches their idea, product or service before area entrepreneurs, potential investors, and the Louisville startup community.
For more information about eligibility criteria, or to apply, visit www.vogtawards.com.
