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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.”

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“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.