By Kayla Phelps

The Lexington Venture Club celebrated the success of regional early-stage companies that have contributed to economic development Wednesday.

The Venture Club, founded in 2002, is partnered with Commerce Lexington and UK to “take new technology and help build businesses,” said Warren Nash, director of Lexington Innovation & Commercialization Center.

Club and community members gathered at Buster’s Billiards & Backroom for the announcement of survey results conducted by the club. The event focused on the number of jobs created in the Bluegrass community and the amount of money that has been raised.

Seventy-eight Central Kentucky early-stage companies participated in the survey. Of the 78 companies, 279 people were hired in 2011, equating to a 16.2 percent increase. There was a 35.3 perecent increase in total revenue, totaling $127.2 million.

Dan O’Hair, dean of the College of Communications and Information Studies, said the high-paying, high-education jobs that the businesses create are beneficial for college graduates.

“When you think about entrepreneurship, you think outside the box,” O’Hair said.

He said the university and community have a symbiotic relationship in an effort to promote entrepreneurship.

“We see the university and community working together as one,” O’Hair said.

Entrepreneur study programs and course work are being developed across colleges, he said, and the goal is to “let students know they can start their own business.”

Provost Kumble Subbaswamy said UK is interested in making sure research is not only conducted, but also carried out.

“We hope we make a connection with entrepreuneurship and connect it with our students and our resarch,” he said.

Three companies were recognized at the event, and two were created as a result of UK research: Seikowave, which focuses on three-diminseonal measurement systems, and CoPlex, therapeutics development to prevent Alzheimer’s.

“We need to develop and attract entrepreuneurs,” Mayor Jim Gray said.