Innovation Fund

What is the innovation fund?

Strategically located 30 minutes north of Downtown Dallas, McKinney has been a destination for both population and corporate growth in the DFW market for the last 20 years.

As economies grow, they evolve and our goal is to grow our already impressive startup ecosystem into an innovation corridor. From more established companies like Playful and Vazata, to companies that have successfully exited like Words with Friends & Bossfight, McKinney has been a hub for innovation in the DFW Metro and to continue that growth is the goal of our new fund.

Our Innovation Fund seeks to give startups and companies of all sizes the opportunity to take their ideas to the next level in McKinney, Texas. Check out the information below and see if we are the right fit for your company. Fill out our online application if you are interested in learning more!

GRANT TYPES

  • New Job Incentive (minimum wage for an employee must be $68K)
  • BRE Retained Job Incentive
  • Skills Development Incentive
  • Small Business Innovation Research [SBIR] Matching Grant
  • Security Clearance Stipend

What Can the innovation fund BE USED FOR?

GROWTH

ELIGIBILITY

  • A target-sector startup with a demonstrated business plan and initial seed funding greater than $50K 
  • Minimum Annual Revenue: None (Raised over $50K in Seed funding) 
  • Minimum Employees: 2 
  • The company must relocate and retain its HQ or primary business operation in McKinney for a minimum of 3 years
EXPANSION

ELIGIBILITY

  • A target-sector company whose HQ or primary business operations have been in McKinney for a minimum of 12 months
  • Minimum Annual Revenue: $500K (Or raised over $1M)
  • Minimum # of Employees: 10
  • Scaling Employee Growth Greater than 10
  • The company must retain its HQ or primary business operations in McKinney for a minimum of 3 years
RECRUITMENT

ELIGIBILITY

  • A target-sector company with no operations in McKinney that would consider locating it’s HQ or primary business operations to McKinney
  • Minimum Annual Revenue: $500K (Or raised over $1M)
  • Minimum Employees: 15
  • Maximum Employees: 50
  • The company must retain its HQ or primary operations in McKinney for a minimum of 3 years

The MEDC will identify and vet prospective applications, as well as determine an appropriate grant amount. Grant amounts will depend on the project’s positive impact on the tech ecosystem, available funds and is subject to MEDC board approval.

Contact Us Today!

FIND US AT

5900 S Lake Forest Dr, McKinney, TX 75070

972-542-0926 Fax

COVID-19 BUSINESS RESOURCE

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COVID-19 Resource