McKinney Innovation Fund — Recruitment Grant

McKinney Innovation Fund — Recruitment Grant

Funds growing technology companies relocating to McKinney, Texas, with support tied to sustained operations and hiring.

The McKinney Innovation Fund Recruitment Grant is the top tier of the three-tier Innovation Fund administered by the McKinney Economic Development Corporation (MEDC), a Texas 4A/4B sales-tax-funded statutory nonprofit. It provides up to $500,000 to later-stage tech companies that relocate their primary headquarters to McKinney, Texas. Unlike the Growth and Expansion tiers, which target startups at idea stage or early traction, the Recruitment Grant is calibrated for companies with 15 to 50 or more employees that are making a deliberate market-entry or relocation decision. The award amount is calculated based on the number of local jobs created in McKinney and their associated salaries rather than a flat grant figure. Applications are accepted on a rolling basis with no published deadline.

To be eligible, a company must commit to maintaining McKinney as its primary headquarters for a minimum of three years — not merely opening a satellite or regional office. International companies are explicitly eligible; MEDC announced the Recruitment Grant at Web Summit 2024, specifically targeting global tech companies considering a US market entry. Eligible sectors align with the broader Innovation Fund definition: SaaS, AI, cybersecurity, fintech, cloud computing, renewable energy (technology-based), life sciences, and digital arts. No equity is taken; the grant functions as a cash economic development incentive.

Companies begin the process by contacting MEDC to receive the Founder Funding Kit, which details qualification criteria, the application and funding timeline, and the milestone framework. The MEDC contact is T. Billett at tbillett@mckinneyedc.com or (972) 547-7651, located at 7300 SH 121 SB Suite 200, McKinney, TX 75070. Decisions are made on a rolling, case-by-case basis rather than through a cohort or competition structure.