By David Seduski | Development Associate
Unfortunately, NFTE Baltimore’s project to fund micro-grants as prizes for our classroom competitions winners did not reach the critical mass of donations we were looking for. Thanks so much to those who did donate, we appreciate all the efforts you have made to bring our students entrepreneurial dreams to life. NFTE Baltimore’s program went forward with our plan to reward the winner of our classroom business plan competitions anyway, in part thanks to your funding. During the NFTE class students learned about entrepreneurship and the mindset necessary to overcome adversity and address future personal, economic, community and global challenges. As they presented the business plans they created as a result of their lessons, we were consistently amazed with the new ventures they proposed.
One of the ventures that came from the NFTE Baltimore program was Accellabike. Siblings Chris and Kayla S. partnered with Maya C. to devise a bike sharing program for their city. Their model for how bike rentals would work in Baltimore aimed to lower the amount of traffic in the city, reduce the carbon footprint, and promote a healthier lifestyle. Similarly to many new start-ups, the genesis of the idea for Accellabike started with a simple observation from Chris and Kayla. One morning while traveling to their NFTE class in the Baltimore Metropolitan area, they noticed how slow traffic was and how difficult it was for their mother to get a parking space near the building. Chris explained, “Traffic in Baltimore is often heavy and congested and when there are special events in the city, it becomes even more difficult to get around.”
The plan for Accellabike won the trio their initial business plan competition and the seed capital to help turn their idea into a reality. Chris, Kayla, and Maya continued to advance through the NFTE Baltimore competitions, until they reached the National Youth Entrepreneurship Challenge in California last October. They were able to present their business plan to a group of accomplished entrepreneurs each step of the way, allowing them to receive feedback for their pitch and advice on how to realize their business dreams. Though they did not take home the grand prize in the National Challenge, Chris, Kayla, and Maya did gain valuable entrepreneurship experience. Their success was partially fueled by donors like those of you who donated on Global Giving. Thanks again for thinking of our young entrepreneurs, and for helping them to think in an entrepreneurial mindset.
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