Racing to Lexington
The M25 team made not one, but two (!!!) trips to Lexington, KY in Q2 2023. We’re recapping these recent trips to the Horse Capital of the World and the companies and firms we visited with along the way.
Some may consider it a hot take, but M25’s definition of the Midwest region includes Kentucky, and with it, the city of Lexington. This Bluegrass state borders classic Midwest industrial river cities like Cincinnati, OH and Evansville, IN, and while it may be solidly South to some, we think the startup ecosystems in Kentucky cities like Lexington mirror those of peer cities in our region.
The M25 team made its first trip back to Lexington since the start of the pandemic this April and made a quick visit in June to attend more events from the Awesome, Inc. team. We recap it for you below!
Kentucky’s startup ecosystem benefits from collaboration between state organizations, venture funds, and accelerator programs across various cities, and a prime example of that was this April when Keyhorse Capital and KSTC hosted Investing in Kentucky, a 1-day gathering of VCs, enterprise partners, and economic development orgs in the region as well as investors from outside the state who invest in Kentucky-based companies. While the networking was top notch, the M25 team especially enjoyed getting to learn more from corporate partners like CVG Airport about ways the startup ecosystem can engage.
Like most of M25’s trips to Midwest cities, we also took some time to catch up with Club M25, aka portfolio company founders. Lexington is home to our very own Hippo Manager and Avail, and the M25 squad took the time to stop by Avail HQ and share a celebratory beverage with Sam from Hippo Manager following the company’s 2022 exit.
In June, Lexington-based accelerator and fund Awesome, Inc. hosted speed dating-style meetings with a cohort of Kentucky-based startups to meet with investors from the region, and we were able to make a quick trip for the occasion.
Later that evening Awesome, Inc.’s 5 Across event saw over 300 people pack a theater to hear 5-minute pitches from 5 area startups competing for a 500 prize. Complete with a DJ, dramatic lighting, and a literal smoke show, this edition of 5 Across captured the vibe of startup events in much larger metros.
They say that building a startup ecosystem is a marathon, not a sprint, but in this home of horse racing, Lexington is building something different. A well-connected and well resourced startup community, Lexington is on pace to be a contender in the region, racing for some big outcomes.
