FOR IMMEDIATE RELEASE

McKinney Economic Development Corporation Launches McKinney Innovation Exchange as Next Evolution of The Innovation Fund

McKINNEY, Texas – The McKinney Economic Development Corporation (MEDC) has announced the launch of the McKinney Innovation Exchange, a new physical and programmatic hub designed to accelerate startup growth, attract capital, and deepen McKinney’s position as a leading innovation city in North Texas and beyond.

The Innovation Exchange represents the next stage in the evolution of the MEDC Innovation Fund, which was launched in 2020 and provides non-dilutive capital to early-stage startups. Since its inception, the Fund has supported over 50 portfolio companies, evaluated hundreds of startups annually, and helped drive new business relocations, job creation, and capital investment in McKinney. With the Exchange, MEDC is moving from a successful grant-based program into a more holistic, integrated innovation ecosystem that supports companies across their full lifecycle. 

Located within District 121 alongside the MEDC’s offices, the 6,000 square foot McKinney Innovation Exchange will open later this year and serve as a shared physical space for founders, investors, corporate partners, and ecosystem organizations to collaborate, pilot new ideas, and scale high-growth companies. The Exchange brings together multiple elements of MEDC’s “12 Pillars of Innovation,” including the Innovation Fund, advisory councils, workforce initiatives, corporate partnerships, and future investment strategies under one connected platform. 

“The Innovation Fund proved that McKinney could attract strong founders and deliver real economic impact,” said Troy Billett, Project Manager for Innovation at MEDC. “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.”

Since its launch, the Innovation Fund has helped attract domestic and international startups, facilitated business expansions and relocations, and connected founders to global partners through programs such as Plug and Play, Web Summit, and other international innovation networks. The Exchange builds on that momentum by providing a permanent home for these relationships and creating a more sustainable, scalable model for innovation-led economic development. 

As the Exchange continues to develop, MEDC plans to expand programming, grow partnerships with universities, increase investments from venture capital and other startup funds, and advance future phases that include additional investment tools and workforce pipelines tied directly to high-growth companies.  According to MEDC President and CEO Michael Kowski, the Innovation Exchange aligns directly with the organization’s broader strategic vision.

“This is a milestone moment for MEDC,” said Kowski. “The McKinney Innovation Exchange reflects years of learning, growth, and results from the Innovation Fund. It positions McKinney to not only attract innovative companies, but to retain them, help them scale, and connect them into a broader economic engine that benefits our residents, workforce, and business community.”

More information about the McKinney Innovation Exchange and MEDC’s innovation initiatives will be released at uniquemckinney.com/ix.