Idea State U is Kentucky’s premier statewide business venture competition open to student teams from any Kentucky college or university. These student teams research, design and present ideas for proposed new companies, competing for a share of over $100,000 in prize money.
Idea State U has helped aspiring entrepreneurs gain exposure for their innovative business ideas and receive feedback on how to turn those ideas into reality.
Idea State U is not just for those interested in entrepreneurism or business. Students in any educational discipline can benefit by understanding how a new business starts and operates, as well as gaining skills in strategy development and execution.
Real-life benefits of participating in the Idea State U competitions include:
- BUSINESS KNOWLEDGE
- ENTREPRENEURIAL COACHING
- NETWORKING SKILLS
- PUBLIC SPEAKING
- CREATIVE PROBLEM SOLVING
- DEVELOPING AN IDEA
- INVENTIVE THINKING
WHO IS ELIGIBLE
The competition is open to students who are currently enrolled in their school’s spring semester or were enrolled in the immediate preceding summer or fall semester, and who meet one(verify) of the following criteria:
- Comprise student teams that have won their individual school’s most recent business model or business plan competition; or have been selected using another method as determined by their school.
- All participants on a team must be eligible students. Each school (including each KCTCS campus) may enter up to six (6) teams: three teams for the Business Model portion of the competition and three teams for the Business Plan portion of the competition.
PRIZES/MONEY AT STAKE
OVER $100,000 WILL BE AVAILABLE FOR AWARDS
A portion will be awarded up-front to the winning teams with a portion awarded as follow-on funding for actual business expenses once the team has legally
formed its business.
Awards will be granted in both the regional competitions and in the finals.
Regionals – Business Plan and Business Model
- First Place: $1,000
- Second Place: $750
- Third Place: $500
- Fourth Place: $250
Finals – Business Plan
- First Place: $25,000
- Second Place: $20,000
- Third Place: $10,000
Finals – Business Model
- First Place: $7,500
- Second Place: $5,000
- Third Place: $2,500
Note: Depending on availability of funds, a stipend may be
provided for teams that participate in the finals but do not
win one of the monetary awards.