MOREHEAD, Ky. (June 22, 2015) – A new Kentucky company has created a device to inexpensively assess the strength and health of wireless communications systems.
Bamboo RF won first place at the Kentucky Innovation Network's most recent entrepreneur pitch competition in Morehead. The company presented its concept to a panel of local judges and received a cash prize and the opportunity to present to the Kentucky Angel Investors Network in Frankfort this fall.
"It's amazing to see the various technologies and business ideas that exist in this region," said Johnathan Gay, director of the Kentucky Innovation Network office in Morehead. "Competitions like this attract entrepreneurs and encourage them to take steps to further develop their concepts and business plans. The feedback from judges is a critical component for each team that presents."
Bamboo RF, a company created by Kien Dang and Garret Adams, Morehead State University Space Science Center graduates, is designing a "Vector Network Analyzer" that is significantly less expensive than current models. This will allow the average consumer to detect and test the clarity and strength of wireless radio frequencies without spending thousands of dollars. Bamboo RF's product will be slightly less accurate than commercial analyzers, but the smaller size and lower cost far outweigh the difference.
"We have the technology and are ready to make it happen," said Dang. "This contest proved that for us."
The Morehead event was the latest in a series of 11 pitch competitions throughout the state. Other events will be held in Ashland, London, Pikeville, Murray, Elizabethtown, Richmond, Paducah and Louisville. Earlier this summer, Covington and Lexington held regional competitions.
The pitch competition, which is in its second year, is sponsored by the Kentucky Innovation Network, the Office of Entrepreneurship within the Kentucky Cabinet for Economic Development and the Kentucky Angel Investors Network. For more information on the competition, visit kyinnovation.com.
The Kentucky Angel Investors Network brings new ventures and accredited investors together via monthly online meetings, providing investors access to form deals and partnerships with entrepreneurs statewide. Membership is open to those accredited investors in and outside the state who are passionate about investing in Kentucky companies. To learn more, visit www.kyangels.net.
Consisting of 13 offices throughout the state, the Kentucky Innovation Network offers extensive resources for small and new businesses. Assistance can range from funding initiatives, marketing and sales assistance, small business advocacy and resource referrals, along with a variety of financial and incentive programs to encourage investment and job growth. All services are provided free of charge.
The Kentucky Innovation Network is an initiative of the Kentucky Cabinet for Economic Development's Office of Entrepreneurship. The goals of the Office of Entrepreneurship are to develop an entrepreneurial climate in Kentucky, provide guidance and support to startups and assist existing small businesses with growth opportunities. To learn how the Kentucky Innovation Network is helping create and grow Kentucky's small businesses, visit www.kyinnovation.com.
Information on Kentucky's economic development efforts and programs is available at www.ThinkKentucky.com. Fans of the Cabinet for Economic Development can also join the discussion on Facebook at www.Facebook.com/ThinkKentucky or follow on Twitter at www.Twitter.com/ThinkKentucky. Watch the Cabinet's "This is My Kentucky" video on YouTube.
The Kentucky Cabinet for Economic Development is the primary state agency responsible for encouraging new jobs and investment in the state. New capital investment announced in Kentucky in 2014 totaled a state record $3.7 billion, spurring more than 15,000 projected new jobs. The Commonwealth also received Site Selection magazine's nationally acclaimed Governor's Cup for most economic development projects per capita last year. Information on available industrial properties, workforce development assistance, incentive programs, community profiles, small business development and other economic development resources is available at www.ThinkKentucky.com.