NEW KNOXVILLE – Schurz Communications Inc. (“Schurz”) and its broadband subsidiary NKTelco, has announced the NKTelco Innovation Fund, created to support, sustain and grow businesses in Ohio. The NKTelco Innovation Fund will provide investment of $500,000 distributed evenly over five years to selected local startups and growth stage companies.
To qualify, businesses must be located in Ohio’s Auglaize, Darke, Miami, Mercer, Shelby or Union County. Investment criteria is based on viability, potential, growth and return characteristics that would create local jobs. Special consideration will be given to minority groups that meet basic investment criteria. Applicants should be focused on technology, innovation, or have a technology angle that can take advantage of broadband technology; however, the fund can consider all types of businesses that meet the investment criteria. Examples include digital media, artificial intelligence, cyber security, IOT, cloud, gaming businesses etc. that create and maintain well-paying jobs in Auglaize, Darke, Miami, Mercer, Shelby and Union Counties.
“The NKTelco Innovation Fund is designed to foster growth in our county,” said Preston Meyer, general manager of NKTelco. “We look forward to working with the inspiring leaders in our area to create economic development for years to come.”
The Investment Committee led by NKTelco and Schurz will include local business leaders. The committee will review applications and make the investments. The Investment Committee will make public, an annual report on all firms that receive Innovation Fund investments and the local community impact.
Schurz Communications funded the first trial of the Innovation Fund in Burlington, Vermont, in 2019. Since then, there has been great local interest in the Fund with the development of multiple successful businesses, positive community support for the fund, and significant community impact.
To learn more about the NKTelco Fund visit https://www.nktelco.com/nktelco-innovation-fund/.
NKTelco is a locally operated fiber provider that has been in business since 1905 and currently offers data, voice, and video services to residential and business customers in communities in West Central Ohio. NKTelco has a long history of expanding its fiber network to provide the best service possible to its customers. Currently, NKTelco serves the New Knoxville, New Bremen, Minster, Fort Loramie, Botkin’s, Anna, Maria Stein, Chickasaw, Osgood, Russia, Jackson Center, Sidney, Piqua and Versailles communities.
About Schurz Communications
Schurz is a family-owned corporation that has been helping businesses, communities and individuals make meaningful connections for five generations. The Schurz legacy began in newspaper publishing, radio, and television, and today, the company remains committed to making information more accessible through the platforms and technology of the digital age. Schurz Communications’ recent investments include the creation of the Antietam Broadband Innovation Fund, which is dedicated to helping finance small businesses throughout Hagerstown and western Maryland. For more information, please visit: www.schurz.com.