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Kentucky Innovation Network
CNX wins Entrepreneur Pitch Competition in Elizabethtown
Startup software company receives prize to grow operations
ELIZABETHTOWN, Ky. (June 20, 2014) – A central Kentucky entrepreneur has received a significant boost to grow his business.
Brian Mefford presented his company, Connected Nation Exchange (CNX), to a panel of local judges during the Kentucky Cabinet for Economic Development’s entrepreneur pitch competition in Elizabethtown. For his award-winning idea, CNX received a cash prize and the opportunity to present to the Kentucky Angel Investors Network in Frankfort later this year.
CNX is a startup software company with the goal of creating faster data for wireless devices. The company has created a proprietary database to allow it to determine placement of transmitter receiver hardware throughout the country to speed up service.
“It was a pleasure to participate in the Kentucky Angel pitch competition and to gather together with other Kentucky entrepreneurs, investors and supporters,” said Mefford, the founder and CEO of CNX. “I appreciate the work of the Cabinet for Economic Development through the Kentucky Innovation Network to help make that happen. CNX is honored to have been selected as the winner of the regional competition.”
CNX was one of four entrepreneurs to participate in Thursday’s competition. Participants had 10 minutes to present their business idea to the judges.
“The pitch competition here in Elizabethtown was wonderful for our local investors as well as our local entrepreneurs,” said Lisa Williams, director of the Kentucky Innovation Network Office in Elizabethtown. “The event was very well attended and there were lots of new ideas. Who could ask for a better day?”
The event is sponsored by the Office of Entrepreneurship within the Kentucky Cabinet for Economic Development, along with the Kentucky Angels Network and the Kentucky Innovation Network. For more information on the competition, visit kyinnovation.com
Last year, the Cabinet successfully launched the Kentucky Angel Investors Network. 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
Learn more about CNX at www.cnx.io
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The Kentucky Cabinet for Economic Development is the primary state agency in Kentucky responsible for encouraging new jobs and investment in the state. New capital investment announced in Kentucky in 2013 totaled more than $3.3 billion, spurring more than 14,000 projected new jobs. 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.