Amy Lindsey | GC News-Gazette Lieutenant Governor Jenean Hampton spoke at GCHS to encourage students to participate in her Entrepreneurship Challenge. Pictured: Lt. Governor Hampton (left) with Senior Class President Emery Crume.

Amy Lindsey | GC News-Gazette

Lieutenant Governor Jenean Hampton spoke at GCHS to encourage students to participate in her Entrepreneurship Challenge. Pictured: Lt. Governor Hampton (left) with Senior Class President Emery Crume.

Kentucky Lt. Gov. Jenean Hampton visited with several Grayson County High School classes Tuesday to discuss her Lieutenant Governor's Entrepreneurship Challenge.

After touring the vocational and technical school, Hampton met with Brent Weedman and Brittany Gary's classes in the library to encourage them to participate in the program.

This program is designed to introduce Kentucky's high school students to realistic business environments, show them entrepreneurial values, promote business ownership and encourage lifelong learning.

Hampton wants to help encourage students to be entrepreneurers by giving them an opportunity to win scholarship money through this contest. It also teaches students the basics of owning a business.

According to Hampton, "Small businesses fail because the owners don't know the basics of owning a business."

This program offers students the chance to win scholarships to any postsecondary institute in Kentucky, including universities, community and technical colleges and other vocational institutes. According to Hampton, in the two years since this program's induction, over $180,000 in scholarship money has been awarded.

She said that some colleges and institutions offer additional scholarship money if the winners of the program attend their facility. All of the scholarship money comes from donations.

In addition to winning scholarships, this program provides a solid understanding of how to form a business.

"If you're introduced to something, you're more likely to do it," she said.

According to Hampton, the program sees around 700 participants each year, but she expects fewer to sign up this year.

The challenge has teams of two to four high school students write a business plan, create a video and pitch their ideas in a specific area. The top two teams then move on to finals and pitch their idea again for prizes. Each team needs to have an adult coach. Adults can coach more than one team.

Every student in grades 9-12, public school, private school or homeschool, is invited to participate.

The basics of the business plan include: cost of production, target area, how to reach the target area and how to best the product's competition. There is no need to actually create a working prototype. Everything is in theory.

The deadline to register is Dec. 3, but ideas and business plans do not have to be ready yet.

For more information or to register, visit ky.lgec.com