Old Capitol Annex
300 West Broadway
Frankfort, KY 40601
Entrepreneur Pitch Competition Coming to Pikeville
Winners will receive cash prizes to start their businesses; gain access to angel investors
FRANKFORT, Ky. (June 6, 2014) – Aspiring entrepreneurs in eastern Kentucky will have the opportunity to make their dreams of starting a business come true.
Entrepreneurs will participate in a business pitch competition in Pikeville. Participants will have 10 minutes to present their business idea to a group of judges. 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 10, at the University of Pikeville’s Coleman College of Business from 5 p.m.-7 p.m. Pikeville is the second stop on the competition circuit. The first event, in Ashland, was held last week. Events also will take place in 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.
“The Kentucky Innovation Network coming to Pikeville has created a wonderful opportunity to help rebuild the economy of eastern Kentucky,” said Justin Prater, assistant director of the Kentucky Innovation Network Office in Pikeville. “It is essential to assist our aspiring entrepreneurs as they turn their dreams of starting a business into reality. This competition will go a long way toward making that happen.”
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.
Earlier this year, the Kentucky Cabinet for Economic Development announced a new Kentucky Innovation Network office in Pikeville. The office, one of 13 throughout the state, provides planning and funding assistance to startup companies in the Appalachian region.
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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.