Winners will receive cash prizes to start their businesses, gain access to angel investors
FRANKFORT, Ky. (June 9, 2015) – Aspiring entrepreneurs in Lexington will have the opportunity to make their dreams of starting a business come true.
Entrepreneurs will participate in a pitch competition presented by the Kentucky Innovation Network. Similar to the hit TV show “Shark Tank,” participants will have 10 minutes to present their business idea to a group of potential angel investors – individuals who provide capital for startup companies. Winners will receive cash prizes and the opportunity to present their plans to the entire Kentucky Angel Investors network (Kentucky Angels) in Frankfort.
“The success of last year’s pitch competitions exceeded our expectations, and we anticipate even bigger things this year,” said Mandy Lambert, commissioner of business development at the Kentucky Cabinet for Economic Development. “Small businesses are job creators and the backbone of Kentucky’s economy. This is a greatopportunity for entrepreneurs to network with potential investors and get their businesses off the ground. We want to expose more people to investment opportunities right here in the Commonwealth.”
The competition is Wednesday, June 10, at Commerce Lexington, located at 330 East Main St., Suite 100, from 5:30 – 7:00 p.m. The event is free and open to the public.
The event is the second of 11 statewide pitch competitions hosted by the Cabinet, the Kentucky Innovation Network and Kentucky Angels. Covington hosted the first competition and Morehead, Louisville, Ashland, London, Pikeville, Richmond, Elizabethtown, Murray and Paducah will host events throughout the summer.
Consisting of 13 offices throughout the state, the Kentucky Innovation Network offers extensive resources for small and new businesses. Assistance can range from funding initiatives, marketing and sales assistance, small business advocacy and resource referrals, along with a variety of financial and incentive programs to encourage investment and job growth. All services are provided free of charge.