Kentucky Innovation Network’s second Entrepreneurial Pitch Competition continues in Ashland tonight with one of seven remaining regional events. Four regional winners – including Yves Law of Covington – already have advanced and will pitch their business ideas to the Kentucky Angel Investors Network in November.
Similar to the hit television show Shark T”ank, these competitions feature Kentucky entrepreneurs presenting their business concepts to a group of experienced local entrepreneurs and business leaders. Winners receive cash prizes and the opportunity to present their business plans to the entire Kentucky Angel Investors Network in November.
“These competitions are a great place to practice pitching in front of Angel Investors,” said Rick Johnson, associate vice president of the Kentucky Innovation Network. “Entrants will receive critical feedback from investors and other entrepreneurs, and meet people from their local community who will work with them to help them achieve their dreams. While there are cash prizes for the winners, the real value is that the competitors are all one step closer to a viable business.”
Regional winners from earlier this summer include:
· Yves Law (Covington): Yves Law has created a web application that provides a cost-effective online service for automatically creating bankruptcy petitions that are ready to be filed in court. The documents can be used by law firms to save time in preparing bankruptcy petitions and allow clients to have more control and transparency in their case. Alternatively, the software can be used directly by customers to save the costs normally incurred by hiring an attorney, while giving the customer confidence that their documents are properly prepared.
· TriBlue Engineering (Lexington): TriBlue’s conceptual design allows natural gas to be produced more economically than current systems. According to the company’s presentation, the current system for processing this type of gas is slow and expensive, utilizing technology introduced in the 1980s. TriBlue’s system is significantly smaller and can process larger amounts of natural gas, contributing to a more economically viable solution.
· Bamboo RF (Morehead): Bamboo RF, a company created by Morehead State University Space Science Center graduates is designing a Vector Network Analyzer that is significantly less expensive than current models. This will allow the average consumer to detect and test the clarity and strength of wireless radio frequencies without spending thousands of dollars. Bamboo RF’s product will be slightly less accurate than commercial analyzers, but the smaller size and lower cost far outweigh the difference.
· Hue Innovations (Louisville): Hue Innovations has developed a machine called “MiColor” that would allow nail technicians to scan a piece of clothing or other fabric and, within minutes, prepare a polish that matches the scanned item. Aside from being a tool to save time for customers and ensure higher quality of work, the use of MiColor would mean a drastic decrease in the amount of nail polish that goes to waste at nail salons across the country. Hue Innovations is also working to develop an environmentally friendly nontoxic nail polish.
Today’s pitch competition in Ashland will be held from 5 p.m. to 7 p.m. in the ACTC Conference Room at 1400 College Drive.
Other remaining pitch competitions are scheduled as follows:
· London: Aug. 18, KHIC Center, 440 Old Whitley Road, 1 p.m.-3 p.m. ET
· Pikeville: Sept. 10, UPIKE College of Business, 118 College St., 5 p.m.-7 p.m. ET
· Richmond: Sept. 18, Central Bank, 350 West Main St., 11 a.m.-2 p.m. ET
· Elizabethtown: Sept. 23, Brown Pusey House, 128 North Main St., 12:30 p.m.-2:30 p.m. CT
· Paducah: Sept. 24, WKCTC Emerging Technology Center, 4810 Alben Barkley Drive, 5 p.m.-7 p.m. CT
· Murray: Sept. 25, Herritage Hall, 926 North 16th Street, 11 a.m.-1 p.m. CT
In addition to the Kentucky Innovation Netowrk, the pitch competition is presented by the Office of Entrepreneurship within the Kentucky Cabinet for Economic Development and the Kentucky Angel Investors Network. For more information, visit www.kyinnovation.com.
The Kentucky Angel Investors Network brings new ventures and accredited investors together via monthly online meetings, providing investors access to 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, visit www.kyangels.net.
Consisting of 13 offices throughout the state, the Kentucky Innovation Network offers extensive resources for small and new businesses. Assistance can range from funding initiatives, marketing and sales assistance, small business advocacy and resource referrals, along with a variety of financial and incentive programs to encourage investment and job growth. All services are provided free of charge.
From Kentucky Innovation Network