The Lieutenant Governor’s Entrepreneurship Challenge is back for a second time this year.
The statewide challenge is for all high school students in public, private or home-school settings. Prizes for the 2018 challenge include a share of up to $100,000 in scholarships split among the top four teams at the finals, which can be used at any post-secondary institution in Kentucky, according to a news release from Lt. Gov. Jenean Hampton’s office
The challenge is a pitch competition that launched in 2016 and seeks to introduce students to a realistic business environment, highlight entrepreneurial values, promote business ownership and encourage lifelong learning, according to the release.
Students who compete have to submit a written business plan, an oral presentation, a marketing video and a tabletop display. Teams can have two to four students and are required to have one adult adviser.
In 2017, a team from Daviess County won $40,000 in scholarships. The students proposed a business idea involving Radio Frequency Identification technology and school transportation, according to the challenge’s website.
Hampton kicked off the 2018 Lieutenant Governor’s Entrepreneurship Challenge on Thursday at Daviess County High School.
“It gives me great joy to officially kick off the 2018 LGEC with the community of 2017 LGEC winners,” Hampton said. “My hope is that we are able to engage more students with an entrepreneurial experience and give away more scholarship money than the first year.”
About 700 students from across the grade levels participated last year, according to the lieutenant governor’s office.
The registration deadline for the challenge is Oct. 31. Materials are due Jan. 31. Regional competitions are from April 9-13 and the finals are April 28.
Regional competitions are at 10 colleges and universities around the state, including Elizabethtown Community and Technical College.
Cody Patterson, communications director for Hampton, said they had five regional competitions last year but expanded after receiving feedback from participants.
At the regional competitions, students have 10 minutes to pitch their business to a panel of judges. This level is open to any team that has registered and submitted materials for the regional competition. One team from each region will advance to the finals.
Students can register at www.kylgec.com.
Sponsors of the challenge include Altech, AT&T, Glowtouch Technologies, BB&T, Kentucky’s Touchstone Energy Cooperatives and the Governor’s School for Entrepreneurs.