Covington, it turns out, has what it needs to launch an alley of New Economy companies: high-speed Internet access, parking and coffee.

        And it will soon have an business incubator and money. Hoping to stake out a patch of the New Economy for Covington, a group of businessmen is forming a nonprofit incubator for high-tech companies on Madison Avenue.

TEAM BOARD

• Chad Bilz of Schiff Kreidler Shell insurance agency.     • Joseph E. Michels, Michels Construction.     • Thomas A. Prewitt, Graydon Head & Ritchey law firm.     • De Stewart, Carpenter Mountjoy & Bressler accountants.     • Michael P. Ziegler, Huff Commercial Group.     For information, e-mail the group at info@madisonavenuelaunch.com.

        The Madison Avenue Launch Team is seeking to raise $250,000 in private and state funding, and has secured two floors of a building at 535 Madison, at Sixth Street, that can house a dozen startup companies.

        The group is also in the process of hiring a full-time executive director, and is assembling a board of a dozen mentors to assist startups. Mentors come from throughout the region, and already include Sutton Landry, head of Northern Kentucky University's small business development center; Connie Sketch of Cincinnati State, who heads the engineering and information technology programs; and Dan Coates, co-founder of Planet Feedback and founder of a new Over-the-Rhine startup, Eppointments.

        “We're in discussions with a couple of (potential tenants) who've actually approached us,” said Mike Ziegler of Huff Commercial Group, one of the team's founders.

        The team has been con tacted by numerous groups in the region offering technology, money and more. “There are partnerships developing,” said lawyer Thomas Prewitt. Announcements on other partners and funding are expected in about a month.

        In addition, Kentucky has allocated $55 million for technology industry initiatives over the next two years, and the Madison Avenue group — like the Northern Kentucky Chamber of Commerce's New Economy Transition Team — is beginning efforts now, to be ready when that money comes available.

        The group has two goals. One is to help redevelop Madison in Covington. The second is to contribute to the region's growing high-tech development, and to become the best place in the Midwest for what the group views as the inevitable migration of companies out of Silicon Valley and northern Virginia.

        “The cost of living is cheaper here, the cost of labor is cheaper here and the cost of doing business is cheaper here,” Mr. Ziegler said. “We need to come on the radar screen as ground zero — the place everybody wants to be in the Midwest.”

        The group stressed that it's not in competition with Main Street Ventures, which has helped establish Main Street in Over-the-Rhine as a locus for technology startups. In fact, MSV participants encouraged them, the men said.

        The Madison Avenue team said there's no set range of services it will offer startups. Involvement begins with high-speed Internet access, free office space and mentoring. After that, it depends on each startup's direction.

        After discussions with Over-the-Rhine startups, the group found three things important to startups: connectivity, parking and coffee.

        Madison Avenue provided a good location, the group said. A high-speed Cincinnati Bell line runs up Madison, affording cheap Internet access. There's plenty of off-street parking for BMWs and Land Rovers. The bars and restaurants of MainStrasse are two blocks away. And there are at least three coffee shops nearby.

        But who there serves lattes?

        “Everybody, soon,” said team co-founder De Stewart.
       

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