12 Kentucky colleges to be represented at event
FRANKFORT, Ky. (April 21, 2015) — Kentucky’s brightest college entrepreneurs will compete in the Cabinet for Economic Development’s Idea State U on Friday and Saturday at the Lexington Center. The nationally recognized business plan competition will include student teams from 12 Kentucky colleges and universities presenting business plans and concepts. The winning teams will win a share of $100,000 to get their business up and running.
Idea State U will feature 25 student teams from the following schools: University of Kentucky, University of Louisville, Northern Kentucky University, Georgetown College, University of Pikeville, Berea College, Morehead State University, Eastern Kentucky University, Murray State University, Western Kentucky University, Owensboro Community and Technical College and Lindsey Wilson College.
During the finals, members of each team will deliver elevator pitches and formal presentations before a panel of judges. The judges will not only determine the winners, but also provide valuable feedback and advice to all participants.
The top six teams will receive prizes. Cash prizes are weighted to provide larger awards to teams whose entries are more fully developed and therefore more likely to succeed. Most of the money can be claimed only as reimbursements for specified business expenses after the team forms a legal company in Kentucky.
The student teams also will continue to work with the Kentucky Innovation Network to pursue their business goals.