Lexington, KY - On April 12th and 13th, 19 teams from seven public universities across the Commonwealth will compete for $100,000 in prizes. The Idea State U competition involves students attending Kentucky's public universities and provides cash awards to student teams who develop the best business plans and business concepts based on their ideas for innovative products and services.
These teams are undergraduate and graduate students planning to start their own businesses. The funds awarded to the winners will help them create fast growing, innovation-based companies with high paying jobs here in Kentucky.
The program is sponsored by the Kentucky Cabinet for Economic Development.
All competition events will be held on Level 3 of the Lexington Center, starting on Friday, April 12th, at 4:00 p.m. Teams will display table-top exhibits to illustrate their concept or plan. The elevator pitch contest which is open to the public begins at 5:30 p.m. on Friday evening. This competition will feature one member from each team pitching their business concept or business plan in 60 seconds or less before a panel of expert judges. The elevator pitch winners will be announced that evening.
On Saturday morning, April 13th, starting at 8:00 a.m., all of the teams will return to the Lexington Center to deliver oral presentations about their proposed business ventures. During this event, up to five members from each team will deliver a formal presentation followed by question and answer and a feedback session with the judges.
Winners of the overall competition will be announced after the conclusion of the oral presentations, around 2:30 p.m. on Saturday.
To find out more, visit www.ideastateu.com.