Grant funding to boost NXTUS Inc. in Wichita
Josh Oeding, president and CEO NXTUS, speaks to a crowd July 8 during a launch party event for Wichita Startup Week.
By Daniel McCoy - Reporter from the Wichita Business Journal.
https://www.bizjournals.com/wichita/inno/stories/news/2022/02/03/grant-funding-to-boost-nxtus-inc-in-wichita.html
Wichita entrepreneurial organization NXTUS Inc. is getting an influx of grant money to help it grow its programming and add staff.
The organization on Thursday announced it has secured nearly $1 million over the next three years that will bolster its work in supporting local startups.
Most immediately, the funding has helped NXTUS add two employees.
Amber Dunn, formerly of RSM Marketing Services, has joined as program manager for the group’s NXSTAGE arm.
Amber Dunn has joined NXTUS Inc. in Wichita.
It has also added Ian Worrell, formerly of Intrust Bank, as program manger for NXTUS capital programs.
Ian Worrell will help lead capital programs for NXTUS Inc. in Wichita.
“Adding Amber and Ian to the NXTUS team will help us support more entrepreneurs and grow our region’s participation in the innovation economy,” said Mary Beth Jarvis, the organization’s executive director. “This is a huge step for our organization as we work to build the momentum that is propelling our community forward. We hope more local business and community leaders will join in this important work.”
The largest grant is $350,000 for the U.S. Economic Development Administration that NXTUS will use to build its regional investor base.
Next is $300,000 from the Ewing Marion Kauffman Foundation that will help NXTUS partner with other stakeholders like the Greater Wichita Partnership and NetWork Kansas.
Through that the organization hopes to help address challenges faced by startups and build a bigger pipeline of entrepreneurs for its NXTSTAGE Pilot Competitions.
Finally, NXTUS will get $300,000 from $750,000 previously awarded for entrepreneurship to Wichita State University as a venture grant from the U.S. Economic Development Administration.
“This is a phenomenal milestone for our region and the early-stage companies we support,” said NXTUS CEO Josh Oeding. “We are thrilled with the Kauffman Foundation’s and EDA’s support that, combined with continued backing from the local community, will allow us to grow and diversify the investor base and startups we can serve. We will use this as rocket fuel to accelerate the growth of innovative startups in Kansas.”
This story updates from a previous version to clarify the total funding amount.