Students Can Submit Business Plans, Concepts to Compete for Prizes

The Eastern Kentucky University Business Accelerator and the Center for Economic Development, Entrepreneurship and Technology (CEDET) are seeking innovative ideas from EKU students for a product, service, or charitable activity to enter in the 2014 IDEA STATE U competition.

Students can present either a business plan or a business concept for consideration, with cash awards up to $20K for a plan and up to $3K for a concept.

Kentucky’s statewide business plan competition (IdeastateU.com) is designed to encourage innovation and entrepreneurship by rewarding student teams from the Commonwealth’s colleges and universities. Winning teams will be those judged as having the best new business concepts and business plans for proposed new ventures.

The IDEA STATE U contest is open to a wide range of products, services or charitable activities that a proposed for-profit or non-profit venture would offer. However, a team’s chances of winning improve if the entry is judged as having more potential to succeed in the real marketplace. Both the business concept and business plan categories include graduate and undergraduate tracks.

The competition places emphasis on business concepts and plans that are scored by independent judges as most likely to result in successful, high-growth ventures. Team submission forms and written entries are due April 3.

CEDET will host IDEA generator workshops every Wednesday in March to help students develop their business and concept plans. Refreshments will be served.  To reserve a workshop seat, contact Ian Mooers at ian.mooers@eku.eduor sign up at the CEDET Office, Room 147, Business and Technology Center.      

Published on February 13, 2014