Old Capitol Annex
300 West Broadway
Frankfort, KY 40601
502.564.4886 Rick Johnson
Kentucky Innovation Network
Entrepreneur Pitch Competition Coming to Louisville
Winners will receive cash prizes to start their businesses; gain access to angel investors
FRANKFORT, Ky. (July 16, 2014) – Aspiring entrepreneurs will have the opportunity to make their dreams of starting a business come true.
Entrepreneurs will participate in a business pitch competition in Louisville. Similar to the hit TV show “Shark Tank,” participants will have 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, 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 Wednesday, July 23, at Greater Louisville Inc. at 614 West Main Street, Suite 600, from 4 p.m.-5:30 p.m. Four teams have been selected to pitch their businesses.
The event is one of eight statewide pitch competitions hosted by the Cabinet, the Kentucky Innovation Network and Kentucky Angels. Competitions have already taken place in Murray, Elizabethtown, Pikeville, Richmond and Ashland with additional events scheduled for later this year in Lexington and Covington.
“These pitch competitions are drivers of innovation within the local entrepreneurial community,” said Lisa Bajorinas, director of the Kentucky Innovation Network Office in Louisville. “They have helped some of our region’s most forward-thinking startups take their products to the next level which, in turn, has fueled regional growth. We are excited to host the competition here in Louisville.”
Winners of the previous competitions are singing the praises of the events. “This [the competition] isn’t a publicity stunt, like others we’ve been to in other states” said Lula Luu, owner of Fin Gourmet in Paducah and winner of the pitch competition in Murray. “Kentucky cares about promoting entrepreneurship. All this was very impressive because Kentucky is not just talking about supporting small startups, they’re doing it.”
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.