Two NKU Fifth Third Bank Entrepreneurship Institute students receive $12,000

Northern Kentucky University’s Fifth Third Bank Entrepreneurship Institute has reason to celebrate two of its students this month. Nathan Young and Eric Tanner placed first in the 2009 Kentucky Idea State "U" Undergraduate Business Plan Competition, receiving over $12,000 in prize winnings.

Students from across the Commonwealth competed in the second annual business concept and business plan competition in Lexington March 27-28. The competition is designed to encourage innovation and entrepreneurship by rewarding participating teams from the Commonwealth's eight four-year state universities. 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.

The duo's business brainstorm, Renewable Horizons, would manufacture solar thermal systems for local companies wanting to invest in renewable energy.

Young, a construction management major with a minor in entrepreneurship, and Tanner, an entrepreneurship major with a business administration minor, developed the idea as a way to promote renewable energy to local companies and homeowners. Both graduate from NKU in May and hope to launch their company soon thereafter.

"This experience has been extremely invaluable as I have learned a wealth of knowledge about business, experiencing first-hand the trials and tribulations of writing and presenting a business plan," said Tanner. "I'm very appreciative to have had such an amazing opportunity. We owe a debt of gratitude to the faculty and staff of the Entrepreneurship Institute and to the College of Business for presenting this opportunity before us and for all the help we received throughout the process."

The nationally recognized Fifth Third Bank Entrepreneurship Institute at Northern Kentucky University offers innovative educational programming to help students develop business concepts and build sustainable businesses.

“This student competition is helping create a new generation of entrepreneurs and innovators that will expand our base of business and provide more jobs statewide,” said Gov. Steve Beshear.  “The evaluations and feedback provided by the business experts who judged the event will be invaluable to the students as they move forward in developing these and other ventures.”

Writer: Jeff Syroney
Source: NKU