The Kentucky Innovation Network will host the second round of is annual entrepreneurial pitch competitions this year.
Similar to the TV show “Shark Tank,” the competitions allow Kentucky entrepreneurs to present their business ideas to a group of local angel investors, who provide capital for startup companies.
“There are so many great ideas throughout the Commonwealth,” said Gov. Steve Beshear. “The competition will help bring those visions to life in the form of real businesses. I can’t wait to see more companies being formed and more jobs created as a result of these events.”
Winners receive cash prizes and the opportunity to present their plans to the statewide Angels Investors Network in November.
11 regional competitions are being held across the state:
- Covington: May 27, 2015, UpTech, 112 West Pike St., 5 p.m.-7 p.m. ET
- Lexington: June 10, 2015, Commerce Lexington, 300 East Main St., 5 p.m.-7 p.m. ET
- Morehead: June 18, 2015, Innovation Launchpad, 149 East Main St., 5 p.m.-7 p.m. ET
- Louisville: June 24, 2015, Greater Louisville Inc., 614 West Main St., 5 p.m.-7 p.m. ET
- Ashland: Aug. 4, 2015, Park Place Building, 1701 Central Ave., 9 a.m.-11 a.m. ET
- London: Aug. 18, 2015, KHIC Center, 440 Old Whitley Road, 1 p.m.-3 p.m. ET
- Pikeville: Sept. 10, 2015, UPIKE College of Business, 118 College St., 5 p.m.-7 p.m. ET
- Richmond: Sept. 18, 2015, Central Bank, 350 West Main St., 11 a.m.-2 p.m. ET
- Elizabethtown: Sept. 23, 2015, Brown Pusey House, 128 North Main St., 12:30 p.m.-2:30 p.m. CT
- Paducah: Sept. 24, 2015, location TBD, 5 p.m.-7 p.m. CT
- Murray: Sept. 25, 2015, location TBD, 11 a.m.-1 p.m. CT
Morehead, Paducah and London are new competition locations this year.
Chris Bailey and his team took home the top prize in last year’s competitions. Their product, GearBrake, is designed to sense deceleration in motorcycles and automatically flash the brake lights, which could prevent up to 90 percent of rear-end collisions.
“Thanks to the competition, we have received a ton of state and national exposure for our product,” Bailey said. “Plus, pitching our product in front of an audience of investors will really pay off down the road.”
The competition is sponsored by the state Office of Entrepreneurship and the Kentucky Cabinet for Economic Development.
Information on how to enter the competition is available at kyinnovation.com.