A new state program will advise young entrepreneurs on how they can turn a bright idea into a business plan. In June, 50 high school students will learn more about innovation and creative thinking at Georgetown College.
Liz Knapp, of the Kentucky Science and Technology Corporation, said she believes some of the ideas will later morph into profit-making products.
“Innovation is the key,” she said. “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.”
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,” Knapp said. “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.”
Knapp says initial funding comes from a $50,000 state grant. Private funds will cover the remaining $150,ooo cost. Knapp said applications will be accepted up until mid- February and campers will be selected in April.