I often get asked why I would launch a venture-building organization in Kentucky.  Dubbed a “fly-over state” (literally meaning, you fly over it from one major market to another), Kentucky isn’t ignored per se, it’s simply not acknowledged as a market where venture building can occur. It doesn’t even register.

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This anonymity is to our advantage.

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The assumption that you need to build the next potential unicorn within a certain radius of Sandhill Road or a similar burgeoning venture ecosystem is misguided.  When building a new company, a readily accessible network is paramount. And while some of that accessibility comes through volume, concentrated expertise doesn’t necessarily imply greater availability or accessibility.  

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When building a new company, a readily accessible network is paramount. And while some of that accessibility comes through volume, concentrated expertise doesn’t necessarily imply greater availability or accessibility. 

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I want to build where I can quickly activate my, or others', network for speed and efficiency.  I want to be able to have conversations with customers face to face, not over zoom.  I want to build out in the open, not fearing that someone may copy my idea.  I want to build within a community that is supportive of my efforts and is rooting for my success because it matters to them as well and can yield a collective win.

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I get all of that and more in Kentucky.

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Success in venture building is as much about the idea and execution as it is about the network you build within.  There is an unfortunate conflation between the word “ecosystem” and the word “network” that is important to recognize.  Proximity is not a proxy for access.  Too many founders have found that out the hard way.

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There is an unfortunate conflation between the word “ecosystem” and the word “network” that is important to recognize.  Proximity is not a proxy for access. 

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It’s true that the coastal based venture ecosystems spawned the first unicorns and deca-corns.  But the concentration of such companies creates a bias to only look for companies with that kind of potential.  I’m neither shocked by the extraordinary valuations through the peak of 2021 nor the magnitude of the correction in 2022 and 2023.  While Kentucky certainly participated in those market movements, the amplitude was far less.  Lack of proximity, it turns out, allows for perspective and prudence.

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I believe that a founder wants to build.  Sure, a billion dollar company sounds amazing.  But those who have been on the journey know that the real thrill is in the progression of building and validation.  The buzz of constructing something from unique parts.  Customers start to roll in and you get that feeling that maybe, just maybe, you have landed on something that is truly great.  If you know, you know - that’s the “drug” a founder seeks again and again.

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It’s not about money, valuation, or fame.  It’s validation of oneself.  Nothing is sweeter.

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We have been actively involved in the company creation community in Kentucky for over a decade; our relationships run deep, and our reputation is well known.

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We decided to build our venture studio in Kentucky because we believe it’s the best market for it.  While our venture community is small, it’s also eager and mighty.  With more consistent quality deal flow (which we aim to provide), the community will flourish.  Because we have been actively involved in the company creation community for over a decade, our relationships run deep, and our reputation is well known.

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Kentucky is also a small state that operates near exclusively through relationships.  Our connections to both industry and government are frankly not comparable to other markets.  The conversations we can have within hours would take months in Silicon Valley, if ever.

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Most importantly, Kentucky is in it for Kentucky.  Investors, companies, elected officials and residents alike want to see Kentucky flourish.  The pride and tradition of the state runs deep and strong.  The hunger to prove to the larger world that we’re not to be discounted is palpable.  It’s these advantages that we will leverage as we build. And candidly, it's why Hunsicker is all in on the Commonwealth.