The McKinney Economic Development Corporation is giving $20,000 from its Innovation Fund to North Texas AI, a McKinney-based nonprofit, to pay for a year of regional meetings on artificial intelligence, the two groups announced Monday.
Under the partnership, North Texas AI will organize 12 in-person events in its new North Texas AI Innovation Series over the coming year, at least two of them in McKinney, according to the announcement. The sessions are meant to bring together AI founders, engineers, investors, businesses, universities and civic partners from around the region.
The release says each event will include registration, staffed networking and structured follow-up, with the goal of turning up contacts for McKinney businesses and possible candidates for the MEDC's Innovation Fund. North Texas AI will list the MEDC as a Founding Strategic Partner throughout the series, and an MEDC representative will get a seat on the nonprofit's program advisory board.
The Innovation Fund is the economic development corporation's tool for backing high-growth, founder-led companies and programs. The release describes this grant as the first time that work extends beyond a single company to a whole regional network.
"The Innovation Fund is about connecting builders and identifying the next businesses McKinney needs to be backing," said Troy Billett, managing director of the McKinney Innovation Exchange.
Josh Stone, who founded North Texas AI, said his relationship with the MEDC goes back years. "It means we can host more of these events, make more connections, and help more AI builders grow their businesses right here in McKinney," he said.
