On July 30, 2026, Governor Andy Beshear announced that six innovative Kentucky companies would receive $748,620 in state matching grants. These funds are intended to support high-paying jobs and further expand the state’s technology sector.
The grants are part of the commonwealth’s nationally recognized Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) Matching Funds Program. The state funds will partially match $5.9 million in federal grants collectively awarded to these businesses. “Our technology sector has seen tremendous growth in recent years thanks to our commitment to creating an environment that allows startup companies to succeed,” said Gov. Beshear, emphasizing the creation of high-wage jobs and solutions for critical issues.
The recipient companies are advancing technology across various fields. AstraQua Inc., relocating from California, is developing the AstraSense system for detecting degradation in high-voltage environments. Bioptics Technology LLC in Lexington is creating a wearable fluorescence imaging device (FLoupe) to help neurosurgeons identify brain tumors. Spirited Inc., also in Lexington, is developing a biorefinery system to convert bourbon distillery stillage into bioplastics and renewable gas.
Further innovations include Tru Diagnostics Inc. (Lexington) with a DNA methylation-based health forecasting tool, Wicked Technologies (Louisville) with the Wicked Smart Pad for caregiver alerts, and WiLO Networks Inc. (Lexington) developing a low-power sensor network for Internet of Things (IoT) applications. The SBIR/STTR program, overseen by KY Innovation, provides crucial non-dilutive capital, with past recipients leveraging $8 in federal or private capital for every $1 in state funds.
“The matching funds program has long set Kentucky apart by helping companies accelerate on their path to commercializing cutting-edge technologies,” said David Brock, executive director of KY Innovation. This investment builds on Kentucky's robust economic growth, with the program having supported 164 unique companies, created over 789 well-paying jobs, and generated more than $146 million in sales and licensing revenue, signaling continued expansion for the state's technology footprint.