Old Capitol Annex
300 West Broadway
Frankfort, KY 40601
Entrepreneur Pitch Competition Coming to Ashland
Winners will receive cash prizes to start their businesses; gain access to angel investors
FRANKFORT, Ky. (June 2, 2014) – Aspiring entrepreneurs in northeastern Kentucky will have the opportunity to make their dreams of starting a business come true.
Entrepreneurs will participate in a business pitch competition in Ashland. 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.
“This is a great opportunity for entrepreneurs to network with potential investors,” said Mandy Lambert, acting commissioner of business development at the Kentucky Cabinet for Economic Development. “Kentucky has a strong entrepreneurial spirit, and we want to expose more people to investment opportunities throughout the state.”
The competition is Tuesday, June 3, at the Ignite Incubator on Greenup Avenue from 5 p.m.-7 p.m. Ashland is the first stop on the competition circuit. Events also will be held in Pikeville, Murray, Elizabethtown, Richmond, Covington, Lexington and Louisville later this summer.
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.
“Economic development in northeastern Kentucky involves a cultural change from ‘get out of school and get a job’ to’ get out of school and create a business,’” said Mick Fosson, director of the Kentucky Innovation Network in Ashland. “Local and regional entrepreneurship will allow us to create much needed businesses, jobs and wealth.”
“Supporting entrepreneurship is a vital component of economic development in eastern and northeastern Kentucky,” said Johnathan Gay, director of the Kentucky Innovation Network Office in Morehead. “Each of our communities has its own assets and resources, but they will only be maximized if we encourage local entrepreneurship. Our Innovation Network offices in Ashland and Morehead work daily to help promote entrepreneurs and entrepreneurship.”
For more information on the competition, visit kyinnovation.com.
Last year, the Cabinet successfully launched the Kentucky Angels 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.
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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.