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 the Kentucky Innovation Network's entrepreneur pitch competition in Lexington. Similar to the hit TV show "Shark Tank," participants will have ten 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 great opportunity 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 eleven 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.
"The Lexington Office of the Kentucky Innovation Network is very pleased to be hosting this exciting pitch event and working with each of these companies who are developing some very interesting products and software programs," said Warren Nash, director of the Kentucky Innovation Network Office in Lexington. "Attendees of this event will have an opportunity to learn about some very innovative, novel and unique technologies."
If you are interested in attending the event, you can get more information at kyinnovation.com/pitch or register here.
Kentucky Angels brings new ventures and accredited investors together via monthly online meetings, providing investors access to form deals and partnerships with entrepreneurs statewide. Membership is open to those accredited investors in and outside the state who are passionate about investing in Kentucky companies. To learn more about Kentucky Angels, visit www.kyangels.net.
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.
The Kentucky Innovation Network is an initiative of the Kentucky Cabinet for Economic Development's Office of Entrepreneurship. The goals of the Office of Entrepreneurship are to develop an entrepreneurial climate in Kentucky, provide guidance and support to startups and assist existing small businesses with growth opportunities. To learn how the Kentucky Innovation Network is helping create and grow Kentucky's small businesses, visit www.kyinnovation.com.
Information on Kentucky's economic development efforts and programs is available at www.ThinkKentucky.com. Fans of the Cabinet for Economic Development can also join the discussion on Facebook at www.Facebook.com/ThinkKentucky or follow on Twitter at www.Twitter.com/ThinkKentucky. Watch the Cabinet's "This is My Kentucky" video on YouTube.
The Kentucky Cabinet for Economic Development is the primary state agency responsible for encouraging new jobs and investment in the state. New capital investment announced in Kentucky in 2014 totaled a state record $3.7 billion, spurring more than 15,000 projected new jobs. The Commonwealth also received Site Selection magazine's nationally acclaimed Governor's Cup for most economic development projects per capita last year. Information on available industrial properties, workforce development assistance, incentive programs, community profiles, small business development and other economic development resources is available at www.ThinkKentucky.com.