Lexington Female Founded Startup of the Year Finalist

Lexington Female Founded Startup of the Year Finalist

Author:

Doug Van Pelt, PhD

11/20/2019

This past week we were honored to be nominated for a new award recognizing female founded startups in Lexington, KY. Although we did not win the award (congratulations Mosquito Mate!), it was amazing to see the growing support for startups in the Lexington community.

The award was a collaboration between SPARK and Marrow. Marrow is a Lexington-based brand design agency / marketing company. The prize for winning was an in-kind services package from Marrow valued at $20,000! Whoa. The award was presented at SPARK's "Who got the money" event which was held at Kroger field. It was a fun event that provided food, drinks, valuable networking, and even Kentucky football's home field announcer, Carl Nathe, as the emcee.

For us, the most important moment however, was the recognition of how important it is to support female founders. Here is a fact discussed at the SPARK event:

In a study of over 350 startups, researchers discovered that companies founded by women generated more than 2 times as much revenue per dollar invested than those founded by men. But the distribution of investment isn’t equitable; nearly 98% of VC capital is invested in male founded startups.

The idea of Synaptek was born with our CEO, Kate Van Pelt, and James and I certainly believe that her leadership is a prominent factor that led to Synaptek's recognition in the community. We could not be prouder of Kate and we will keep working to revolutionize concussion care and prove we were worthy of this nomination!

Thank you to Commerce Lexington Economic Development and UK Office of Technology Commercialization who were also highly involved in this event!

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