McKinney Economic Development Corp. launches McKinney Innovation Exchange

The McKinney Economic Development Corp. is launching a new innovation initiative aimed at further supporting startup companies in McKinney, according to a February news release.

In a nutshell

Officials are launching the McKinney Innovation Exchange as the “next evolution” of MEDC’s Innovation Fund, the news release states. The Innovation Fund, created in 2020, offers grants to startup companies in McKinney. To date, the fund has awarded funding to more than 50 startups, according to MEDC’s website.

The Innovation Exchange will act as a hub designed to accelerate startup growth, attract capital and “deepen McKinney’s position as a leading innovation city in North Texas and beyond,” according to the news release.

MEDC President and CEO Michael Kowski announced the Innovation Exchange’s launch during a Jan. 27 joint meeting with McKinney City Council.

“The McKinney Innovation Exchange is what we’re calling our entire ecosystem for inspiring startups and small businesses to grow here in McKinney,” Kowski said.

Looking ahead

Officials are opening a physical space for the exchange at a 6,000-square-foot space adjacent to the MEDC’s offices at District 121. The space is expected to open later this year and serve as a collaborative space for founders, investors, corporate partners and ecosystem organizations, according to the news release.

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“The Innovation Fund proved that McKinney could attract strong founders and deliver real economic impact,” Innovation Project Manager Troy Billett said in a statement. “The Innovation Exchange is about what comes next. It gives founders a place to build, connect, and grow while creating stronger pathways to capital, talent, and customers. This is a major step forward in the maturity of the program.”

MEDC will continue offering grant awards to startup companies through its Innovation Fund. Grant types offered by the Innovation Fund include:

Growth: a grant of up to $200,000 to support early-stage technology startupsExpansion: a grant of up to $500,000 for startups in McKinney seeing rapid growthRelocation: a grant of up to $500,000 for startups that relocate their primary headquarters facilities to McKinneyTo learn more, visit https://uniquemckinney.com/ix.