BEAUMONT, Texas, Oct. 26 -- Lamar University issued the following news release:

The Lamar University Venture Center has received a $5,000 grant from the National Association for Community College Entrepreneurship (NACCE) to support student entrepreneurs competing in the Cardinal Ideas Pitch Competition on Nov. 12.

The funding, awarded through NACCE's Everyday Entrepreneur Program, will provide the $5,000 first-place prize at the competition. Cardinal Ideas gives Lamar University students the opportunity to develop business concepts and pitch their ideas to a panel of judges.

In addition to the $5,000 first-place award, the competition will award $3,000 for second place and $1,000 for third place. A speed pitch competition will also award...