For years, Louisville has boasted some of the strongest entrepreneurship rankings of any city in the country, particularly among cities in the mid-U.S.

Last week's announcement that Louisville-based Genscape has been sold for $200 Million to DMG Information is further evidence that you can build some extremely valuable companies right here in Louisville.

Genscape was founded by Louisville residents Sean O'Leary and Sterling Lapinski-two former energy traders who saw a need in their industry and took the risk of starting a new venture to fill that need.  This formula is precisely the one that has led to many of the world's greatest entrepreneurial success stories.

Thanks to many key factors, including excellent engineering work performed at the University of Louisville, pilot tests  provided by Louisville Gas & Electric, flexible office facilities leased from bCatalyst,  and venture capital funding acquired from Chrysalis Ventures, Genscape quickly became a fast-growing entrepreneurial success story .  The company's first liquidity event was its sale to GFI Energy Ventures in 2003.

"I could tell from the day I met Sean and Sterling for lunch back in early 2000 that these guys had the right stuff," said Mark Crane, who became head of the Enterprise Corp just before Genscape got off the ground.  "Like most of our clients, they were knowledgeable of their market and committed to seeing their vision through.  But what stood out in my mind most about these two was their chemistry.   You could tell they were having the time of their lives and seemed to enjoy the give and take of every key decision."

To date, Genscape has created dozens of new jobs at a very high average salary.  Of course, the sale of the Genscape to GFI and subsequently to DMG has also created new wealth for the company's investors, most of whom are based in Louisville.  These new jobs and new wealth will impact the Louisville economy in many ways.

"Genscape was one of our first ten clients," Crane said.  "Looking back to 2000, I can clearly remember knowing that we were headed for home runs with at least two or three of those clients...we just couldn't predict which ones.  The sale of Genscape to GFI in 2003 was our portfolio's first liquidity event, and last week's $200 Million sale to DMG Information is the most significant sale our clients have experienced.  What a huge success for our community!   We need more companies like Genscape to remain competitive with other cities, which is why our community is placing so much emphasis on Enterprise Development as a key component of its economic development strategy."

Today, the Enterprise Corp is nurturing 40 early-stage entrepreneurial clients, who hope to follow a similar path as Genscape.  For a quick list of these clients, visit our Clients page.

If you are an early-stage company with the potential for fast-growth, perhaps the Enterprise Corp can assist you with our innovative solutions.  To reach us, just contact us via e-mail or phone.

Genscape:  http://www.genscape.com/

Chrysalis Ventures:  http://www.chrysalisventures.com/

University of Louisville Engineering Dept: http://www.louisville.edu/

GFI Energy Ventures:  http://www.gfienergy.com/

DMG Information:  http://www.dmginfo.com