McKeesport Student to Compete at the 2010 OppenheimerFunds/NFTE National Youth Entrepreneurship Challenge
Before Keena Simmons of McKeesport Area High School graduates from high school, she could be well on her way to becoming an entrepreneur with an innovative product: one that helps people who are color blind color-coordinate their clothes. Simmons was among 31 national finalists competing in the OppenheimerFunds/NFTE National Youth Entrepreneurship Challenge, presented by Kathryn W. Davis, in New York City on Tuesday, October 5th. And it all started at the 5th Annual George W. Tippins Annual Regional Business Plan Competition in Pittsburgh earlier this year.
The 31 students representing 28 businesses, all of whom participated in the Network for Teaching Entrepreneurship (NFTE)’s program that teaches young people to seize educational opportunities and start businesses, were winners of their Regional Business Plan Competitions, and have moved on to the finals to compete for seed capital and the title of best business plan.
Simmons, along with Ryah Gadsen from McKeesport Area High School, won $2,000 in seed capital for their businesses, Made For The Shade, in the George W. Tippins Annual Regional Business Plan Competition in June. The product their business is based on is a durable iron-on tag that is uniquely designed to indicate primary color clothing, allowing those diagnosed with colorblindness to easily color coordinate their clothes.
Entrepreneuring Youth, which sponsors the annual regional competition, directs resources to engage and benefit young people at risk of failing academically and for whom career paths and opportunities for success seem extremely limited. The competition is a showcase for students, from grades 9-12, to demonstrate their business ideas and talents.
The program is underwritten by the Tippins Foundation and named in honor of one of Pittsburgh’s most successful entrepreneurs, inventors and financiers of the latter half of the 20th century. The competition provides students with real life experience in business creation so young people acquire knowledge and skills essential for: academic success, economic security, and fulfilling their aspirations.
“Through our competitions, young people greatly improve their communications skills and their ability to express ideas,” says Jerry M. Cozewith, president of Entrepreneuring Youth. “Most importantly, they realize they can face and overcome challenges. This builds confidence and propels them to even bigger dreams. For all the hard work invested in preparing to compete on October 5th in NYC, Keena Simmons is already a big winner, even if she does not earn first place.”
The national competition’s grand-prize winner takes home $10,000, with the runner-up winning $5,000 and the third-place finalist winning $3,500. Additionally, each finalist filmed a 30-second elevator pitch video as part of the NFTE Elevator Pitch Challenge. The public can vote online at www.elevatorpitch2010.com between September 13th and October 3rd for the best elevator pitch, and the winner will be awarded $2,500 on the evening of the National Challenge.
About Entrepreneuring Youth: Entrepreneuring Youth, a 501 C 3 nonprofit educational and entrepreneurial experience program was founded in Pittsburgh by former NFTE volunteer and staff leaders, launching on September 1, 2009. Entrepreneuring Youth is the successor organization to the Pittsburgh Program Office of the Network for Teaching Entrepreneurship (NFTE). The office engaged more than 7,500 youth since opening in 1994 with support from the region’s leading foundations, and philanthropically responsible companies and individuals. For more information, visit www.eyouthamerica.org or contact Jerry Cozewith at 412.456.4169.
