Jerry Rickett (#533)
Jerry Rickett of Kentucky Highlands Investment Corp. explains how the organization succeeds in supporting entrepreneurs in the region. Founded in 1968 during the War on Poverty, Kentucky Highlands has provided more than 500 businesses with over $150 million in financing—and helped create more than 10,000 jobs—in 22 southeastern Kentucky counties.
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Kentucky Highlands Investment Corp. is known as a pioneer in "development venture capital investing." It differs from traditional investing in that it involves not just an investment of money but also time and effort in offering expert management and financial assistance to budding entrepreneurs. KHIC is one of the largest such investors in rural America.
In addition, KHIC serves as a partner in community development projects, makes agriculture loans, and, along with the Kentucky Science and Technology Corp., is sponsoring the BIG Idea Competition, which is awarding cash prizes to entrepreneurs with promising business ideas.