Old Capitol Annex
300 West Broadway
Frankfort, KY 40601
Entrepreneur Pitch Competition Coming to Richmond
Winners will receive cash prizes to start their businesses; gain access to angel investors
FRANKFORT, Ky. (June 18, 2014) – Aspiring entrepreneurs in central Kentucky will have the opportunity to make their dreams of starting a business come true.
Entrepreneurs will participate in a business pitch competition in Richmond. 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 Friday, June 20, at the Central Bank Community Room on West Main Street from 11 a.m.-1:30 p.m. Future events will take place in Elizabethtown, Covington, Lexington and Louisville. Previous competitions have been held in Ashland, Pikeville and Murray.
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.
“We’re excited to see this sort of activity develop in our region,” said Kristel Smith, executive director of the Kentucky Innovation Network Office in Richmond. “We know that wealth exists here in the hands of people who want to see their region flourish. And we see the passion and the desire every day from people wanting to set their own future. We feel very strongly that it’s our responsibility to introduce those two groups to each other.”
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.