NKU students bring home state business plan prize

News from NKU...

Thursday - April 2, 2009
For immediate release...


HIGHLAND HEIGHTS, Ky. - Two Northern Kentucky University Fifth Third Bank Entrepreneurship Institute students, 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.

Their business idea, Renewable Horizons, is a company that manufactures solar thermal systems. They will construct medium and high temperature solar collectors, act as an original equipment manufacturer (OEM) and assemble and sell the complete systems. Renewable Horizons will also provide proper training and installation of solar thermal systems and educate local companies about the value of renewable energy while continuing to increase national awareness of solar thermal 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."

Students from across the state 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.

In addition to the business plan portion of the competition, Idea State "U" offers students the opportunity to compete on business concepts. Kenny Wilson, an NKU entrepreneurship and marketing double major and business administration minor, presented "en-hanced water," which will develop a line of water-enhancing ingredients that will be dispensed with cold water, through a "cappuccino style" vending machine at the point of purchase.

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.

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