LaunchLNK has a lot to be excited about. In just five years, program startups have gone on to raise over $82 million in follow-on funding.
A grant recipient and big contributor to that number is BasicBlock, a software and financial services company building products for fleets and carriers. BasicBlock was a LaunchLNK grant recipient in 2019. In May 2020 they closed a $1.5 million seed round, and in early 2022 they completed a $78 million raise.
Taylor Monks, CEO & Co-Founder of BasicBlock, says, “It is an awesome feeling to be able to bring this type of capital into Lincoln.” The company has over 30 employees and is still aggressively hiring across multiple departments and locations. About the company’s growth, Monks continues, “We’re packed in our office like peanuts.” The plan is to move into a new office in downtown Lincoln early next year.
Beyond the grant funds, startups can leverage $8,000 in business services, connections to sources of both capital and mentorship and introductions to local corporations who could become early customers or partners.
Christie Stukenholtz, Co-Founder and CEO of Senior Care Finder, stated, “The LaunchLNK grant provided the much-needed financial support to act on the items most critical to our success. There is no doubt that the program broadened our network, providing connections to a cohort of other founders and industry experts.” Senior Care Finder is an online technology platform connecting families with senior living and care options. A LaunchLNK recipient in 2022, the company has experienced rapid growth and both founders are now working on the business full time.
We need a thriving entrepreneurial ecosystem, and this program has proven to yield an outsized return on investment. Looking forward, we’re excited to continue expanding our pipeline and to fund the next cohort of scalable businesses in Lincoln.
LaunchLNK is seeking its 2023 cohort of companies. Applications are open through Dec 31, 2022. Five businesses will be awarded $25,000 in non-dilutive capital grants.
LaunchLNK is a program by StartupLNK and the Lincoln Partnership for Economic Development (LPED) for entrepreneurs who want to build and grow their company in Lincoln, Nebraska.
Apply at http://launchlnk.com/. Contact firstname.lastname@example.org with questions.