By David Seduski | Development Associate
Despite the fact that our microproject on the GlobalGiving platform was not fully funded, NFTE New York Metro will be able to proceed with plans for the Start It Up Fund, through which the semifinalists in our regional competition will receive seed capital for their businesses. We were thrilled with the donations we did receive towards helping our student entrepreneurs, as the money received will help our best and brightest put their ideas into action. Combined with the contributions and sponsorships of the NFTE New York Metro’s Rising Young Entrepreneurs Benefit, held on May 8th, we were able to hit our microproject’s goal in time for our 2014 Regional Business Plan Competition. The donations we receive help us provide opportunities to teach students skills that help capture their creative energy, and give them a chance to succeed in the modern economy.
Fundamentally, we believe that by exciting low-income students about the possibilities of starting and owning their own business will improve their core skills, keep them in school until graduation, and encourage them to go to college or a trade school to get the education necessary to support themselves and their future families, as well as pursue their entrepreneurial dreams. Each student who takes the NFTE course enters into a classroom competition where they pitch the business plan for a new venture they have started. The winners from the classroom move on to the regional semifinal, and the two winners from each semifinal will compete for two spots in the National Youth Entrepreneurship Challenge in Mountain View, California this October. The Start It Up Fund will benefit those students who have made the seminfals, thus demonstrating their entrepreneurial prowess and the validity of their businesses. The New York Metro Regional Finals will be taking place on June 12th, 2014, and will be a great opportunity for our students to present and hear feedback from successful local entrepreneurs as they strive to make their dreams a reality.
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