Transylvania University’s Center for Entrepreneurship is teaming up with other local schools for a “Shark Tank”-style pitch competition April 16 as part of Lexington’s 250th anniversary celebration.
Reserve free tickets to the 250LEX Entrepreneurial Showdown beginning at 4 p.m. with appetizers and networking in Transylvania’s Campus Center. The competition, which starts at 5, features teams from Transy, Bluegrass Community and Technical College, Fayette County Public Schools and the University of Kentucky.
Each team will have 10-15 minutes to pitch a product or service to the judges — who’ll be acting like potential investors as in the popular TV show.
“Basically, they’re trying to sell to this board of judges why they should be given the money toward their concept,” said Kaelyn Query Caldwell, interim director of the center. “I’m really excited to see what they come up with.”
The four judges are: Destin George Bell, a UK graduate and “Shark Tank” contestant; Andrew Jefferson ’04 with Kentucky Sports Radio; Demetrus Liggins, superintendent of Fayette County Public Schools; and Sandy Nott, vice president of administration for Toyota Kentucky.
In addition to the judges’ pick, there will be a People’s Choice winner.
The event will be emceed by the local Awesome Inc, which fosters startups, hosts community events and more. Mayor Linda Gorton is also scheduled to speak.
“It should be very fun to watch,” Query Caldwell said, and she encouraged students to come out and cheer on their classmates.
Query Caldwell also pointed out how the winner could use the prize money to help turn their concept into a profitable business. “They’re competing for real cash,” she said. “It’s a pretty substantial pot.”
She’s been working with Transylvania’s showdown contestant, Entrepreneurship Club President Jackson Broecker ’28, ahead of the competition. He’s also practiced his pitch at Startup Weekend Lex this past weekend.
While presenting your product to judges is a great experience for future entrepreneurs, participants in the April 16 showdown can benefit regardless of major or career plans. Pitch skills can transfer to other areas, like getting colleagues on board with a project, for instance.
The center is located in the newly renovated Sanders-Siebers Entrepreneurship Hub, which the university plans to officially dedicate with a ribbon cutting next month (stay tuned for details).
Beyond the 250Lex Entrepreneurial Showdown, Query Caldwell noted the center’s other robust programming open to all students; upcoming events include “lunch and learns,” a panel of attorneys and cross-campus partnerships focusing on music, art and information technology.
Read more about Transylvania’s Center for Entrepreneurship and our other 250Lex events: the College Town Showcase, American Spiritual Ensemble concert and Basketball Week.