Guidelines for the LGEC
The Lieutenant Governor’s Entrepreneurship Challenge (LGEC) is a tiered business pitch competition for all Kentucky high school students grades 9-12. It is intended to introduce students to a realistic competitive business environment, as well as promote business ownership and lifelong learning.
The LGEC serves as an overarching pitch competition for high school students across Kentucky.
who can apply?
- High school students grades 9-12 from public, private, and homeschooling groups.
- Teams must have at least 2 students but no more than 4.
Teams must have at least 2 adult advisers who will serve as committed guides during the development of the business plan and pitch presentation (e.g., teachers, business owners).
The LGEC is comprised of a two-step process: regional competitions and a state competition. The regional competitions will take place in 5 zones across Kentucky with the top two teams from those competitions advancing to the state competition.
The regional competitions will be held the week of April 10-13, 2017 with each zone hosting it's own regional competition.
The regional competition hosts include:
April 10th, Murray State University for Zone 1
April 11th, Western Kentucky University for Zone 2
April 12th, Georgetown College for Zone 3
April 12th, Berea College for Zone 4
April 13th, University of Pikeville for Zone 5
The state competition will be held at the University of Kentucky's Gatton School of Business & Economics Kincaid Auditorium on April 29, 2017. A detailed timeline for that day will be released in 2017.
The regional competitions are open to any team that has registered for their zone competition and completed all the informational milestones.
- The 5 zones for regional competitions are identified in the map below.
- There are roughly 24 counties per zone.
HOW TO REGISTER TO COMPETE
Go to http://www.kylgec.com/apply
To Register you must have the following:
Team members (at least 2) full contact details (name, address, phone, email, etc.)
Create usernames for each team member – to login later
Advisers (at least 2) full contact details
Written Business Outline (PDF) (Due March 1st, 2017 for judging before Regionals)
Pitch (PPT) (Due April 3rd, 2017)
Register to Compete/First 3 Milestones must be completed by February 1st, 2017 @ 5pm EST – Project Name, School Information, and Team Information
4th Milestone/Business Submission must be completed by March 1st, 2017 @5pm EST – Business Plan
5th Milestone – Oral Presentation (Pitch) due April 3rd, 2017 @5pm EST – a copy for records, but not necessarily the final presentation. You should have no more than 10 slides. PowerPoint presentations must be brought to regionals on jump drive.
The Oral Presentation (Pitch) should be no longer than 10 minutes. And there will be 10 minutes of Q&A with the judges.
The top 2 teams in each regional competition will advance to the state competition. There will be a total of 10 teams from across Kentucky at the state competition.
Final scoring consists of the following criteria: written plan, oral presentation, and if needed judges' deliberation.
Prizes valued at $80,000 dollars will be split among the first, second, and third place teams of the state competition and the specific breakdown of those prizes will announced in early 2017.
Prizes for the top 3 teams at the state competition will come in the form of scholarships to post-secondary institutions* in Kentucky, cash winnings for adult advisers, gifts for all Finals teams, and possible in-kind services for winners from entrepreneurs across Kentucky (e.g., manufacturers, attorneys, product designers).
*Post-secondary institutions include but are not limited to:
- Two-year colleges or universities
- Four-year colleges of universities
- Technical colleges or universities
- Trade schools