The Madisonville-Hopkins County Economic Development Corporation has announced its third-annual Idea Competition.
This event showcases innovative business ideas from 9th-12th grade students in Henderson, Hopkins, Muhlenberg, Union and Webster counties.
Ideas must be for new, for-profit businesses in agriculture, filtration, healthcare, information technology (IT)/data/software/technology, logistics/distribution or aviation. Participants must create and submit three-minute video presentations of their proposed businesses, as well as answer questions about their entries describing the primary benefits of its product and services, potential customers, market competition, production and distribution costs, etc. Entrants may compete as individuals or as a member of a single team of no more than four students.
“We want to challenge students to think deeply about what problems they feel passionate about solve in the world and how,” said Ruthann Padgett, vice president of operations with the Madisonville-Hopkins County Economic Development Corporation. “Every successful business solves a problem of some type, and we look forward to hearing about the problems that the students identify and how they plan to go about solving them.”
Ten finalists will be selected from among the entries and notified before January 14th, 2019. Those students will have the opportunity to train on presentation skills with Kim Simons, a professor of business administration at Madisonville Community College.
Finalists then will deliver three-minute, in-person pitches and discuss their business ideas with a panel of judges March 7th at Kentucky Innovation Station at 38 W. Arch St. in Madisonville.
Participants will compete for cash prizes, and entries are due by 4:00PM, December 14th.