Business and the Economy
Young Entrepreneurs Go Camping
A new state program will advise young entrepreneurs on how they can turn a bright idea into a business plan. Next June at Georgetown College, 50 high school students will learn more about innovation and creative thinking. Liz Knapp with the Kentucky Science and Technology Corporation believes some of the ideas will later morph into profit-making products.
“Innovation is the key and innovation can be either, a new idea like when we went from the land line to cell phones, so that’s a new product, or it can be an idea for a new way to provide something, for example ‘Netflix.’ Netflix revolutionized the way that we see movies,” said Knapp.
The students from both public and private schools will spend three weeks on the Georgetown campus. Knapp says the program will provide time to experiment and create.
“It’s going to be structure but unstructured. And so we’re going to basically drive the camp based on the ideas that the students submit. So, the applications process, they have to send us a two minute video and tell us about an idea that they have that solves a problem or you could create a product out of,” added Knapp.
Knapp says initial funding comes from a 50 thousand dollar state grant. Private funds will cover the remaining 150 thousand dollar cost. Knapp says applications will be accepted up until mid- February. Campers will be selected in April.