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WKU-Center for Entrepreneurship and Innovation (CEI) Business Plan teams win over $23,000

Wednesday, June 23, 2010   (0 Comments)
Posted by: Matthew Montoya
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WKU-Center for Entrepreneurship and Innovation (CEI) Business Plan teams win over $23,000 in the Kentucky State –Wide "Idea U” competition held Friday and Saturday (April 16-17) in Lexington Kentucky.

Taking 2nd place in the Graduate Business Concept Division was Y&C Silks winning over $2100. Y&C Silks is an International venture to import high quality silk textiles from Vietnam. The team's members were Thang Le, Anh Nguyen, Julie O'bryan, Phuong Vu. In the Graduate Business Plan Division, Top Shelf Wine & Spirits, LLC won over $21,000. This venture looks to begin operations in coming months offering well priced wines and liquors with weekly wine tastings and networking sessions for the Bowling Green area. The plan was presented by MaryAnn Bokkon, seeking a graduate degree in Folk Studies.

Winners of the Undergraduate Plan were New Grounds Energy, a venture to create and sell electricity from kinetic energy (University Kentucky). Winning the Graduate Plan Division was CALMSenior, a venture to provide web based interface for seniors and their families, taking home over $43,000 (University Louisville).

Also presenting from WKU-CEI in the Undergraduate Plan Division was Nerd Rage Games, a venture to develop and publish a new line of interchangeable table-top role-playing games. The plan was presented by Richard Green. These WKU-CEI Business Teams are one of the outcomes of the cross disciplinary program developed by the CEI and the teams were supported by the Center. The WKU-CEI teams were developed by the continuing efforts of Dr. R. Wilburn Clouse, Executive Director of the Center for Entrepreneurship and Innovation & Mattie Newman Ford Professor of Entrepreneurship, J. Krirst Schell, Director, of the Center for Entrepreneurship and Innovation and Adam Brownlee, Director of the Small Business Development Center. The WKU participants were all selected through a campus wide competition sponsored by the Center for Entrepreneurship and Innovation.

R. Wilburn Clouse, Executive Director of the Center for Entrepreneurship at WKU said "this is by far the best Business Plan Competition in the three years and the WKU-CEI Teams were very strong in the competition-- winning 2 out of the total 8 awards. Other Universities competing in the Competition were University of Louisville, Murray State University, Kentucky State University, Morehead State University, University of Kentucky and Eastern Kentucky University.

The Business Plan Competition is one of the events sponsored by the Kentucky Cabinet for Economic Development and the Department of Commercialization and Innovation. In the Business Plan Program Deborah Clayton, Commissioner, Department for Commercialization and Innovation, Cabinet for Economic Development stated "The Competition demonstrates the tremendous potential that exists among our student population to generate marketable ideas and take their business concepts and plans to the next level. The experience that the students are gaining will benefit them as they compete in the real world”. At the Competition, Mo Miller (One of Business Plan Judges), Founder-- Lincoln Trail Venture Group and Principal of Stone Works, Inc. stated "The IDEA STATE U program provides a wonderful opportunity for the Academic Community to connect with real life experiences and I am pleased to have a part in the type of transition—from idea to reality..”

As part of the continuing programs of the Economic Development process in the Kentucky, the IDEA STATE U is expected to continue in the future to help foster creative and entrepreneurial thinking in the University system in state of Kentucky.

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