More than 300 members of the Orange County business community celebrated five winners during a luncheon at the Business Journal’s 16th Annual Excellence in Entrepreneurship Awards.

The award “recognize[s] individuals who exemplify the American entrepreneurial spirit, and who, by their creativity and determination, have established and nurtured successful business ventures.”

“The spirit of entrepreneurship sits at the convergence of promise and paranoia,” said Newth Morris, co-founder and former president of Aliso Viejo-based Telogis Inc. during the keynote address.

The five honorees, selected from a pool of 98 nominees, were Peter Nguyen of Ad Exchange Group in Irvine; Feyzi Fatehi of Corent Technology Inc. in Aliso Viejo; John Saunders of Saunders Property Co./London Coin Galleries in Newport Beach; Kevin Lawrence of BioNutritional Research Group Inc. in Santa Ana; Lane Rankin of Illuminate Education in Irvine.

Profiles of the winners will appear in the Business Journal’s March 20 edition.