MEDC’s Innovation Fund is created to spur and accelerate the growth of innovation-focused companies at various levels of revenue and funding stages during the startup life cycle. It’s designed to grow with the company as it scales, supplementing growth.
Invene, a healthcare software development company that creates and designs innovative solutions and products for their clients, recently announced it would be relocating its headquarters to McKinney from the University of Texas at Dallas, Venture Development Center. The relocation includes creating up to 12 new, highly specialized software engineering jobs over the next three years, bringing their total number of employees to 15, with an average salary of $80,000.
“We are excited to be moving into McKinney,” said James Griffin, CEO of Invene. “Our new office provides us with a shorter commute and better work/life balance. The McKinney Economic Development Corporation’s (MEDC) vision for bolstering the tech ecosystem has been positive, and we will benefit from the growth of our local industry.”
The company recently received a grant from McKinney Economic Development Corporation’s (MEDC) Innovation Fund launched in January. The fund will help the product as a service (PaaS) company with their expansion goals.
“The Innovation Fund is definitely something that was intriguing to me. I’ve enjoyed learning about it since I first spoke with the MEDC team at a Capital Factory event. Now to be receiving this grant is exciting. The fund’s focus on scalability is unique” – said Griffin. “The MEDC team really knows how to talk to tech companies”.
Invene recently signed a lease for their new headquarters at the Yeager Building (6401 W Eldorado Pkwy, McKinney, TX 75070.) near Craig Ranch. This area is becoming a magnet for corporate investment with the likes of Independent Financial and SRS Distribution recently opening headquarters and an incredible amount of additional development planned in the area.
“Invene is a great company and a great partner in championing what we are trying to achieve by growing our tech and startup ecosystem in McKinney,” – said Danny Chavez, Senior Vice President at MEDC. “Companies at this stage are exciting to work with and help the City create a talent pipeline.”