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Student teams compete in business plan contest

FRANKFORT, Ky. (AP) - Twenty-four teams of Kentucky graduate and undergraduate students will compete this week in Lexington as the Kentucky Cabinet for Economic Development looks for the top student entrepreneurs in the state.

Up to $100,000 in prizes and awards will be at stake in the fifth annual Idea State U. The cabinet says it is one of the nation's largest state-sponsored business plan competitions.

The competition events are open to the public.

Starting Friday afternoon at the Lexington Center, table-top exhibits created by each team to illustrate the ideas will be displayed. Later, a member of each team will summarize the team's plan in a minute or less before a panel of judges.

On Saturday, teams deliver oral presentations, with winners of the overall competition to be announced around 3 p.m. EDT.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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