Henry Ford, founder of Ford Motor Company, famously said, “Whether you think you can, or think you can’t, you’re right.” The Young Entrepreneurs Academy (YEA!) wants to show students they can, in this case, start a business. The national program, which launched a new location at Keene State College in Keene this fall, helps middle and high school students develop, start and fund new businesses.
The Keene program joins 102 other programs in 36 states that guide students ages 11 to 18 through the process of starting a business. “In this economy, the ability to critically think and dream big are useful skills at such a young age,” says Meredith Speranza, program manager for NH YEA! Keene State is partnering with the Greater Keene Chamber of Commerce and the Cheshire County school districts. The Keene group was approached by YEA! about bringing the program to NH and signed a contract to run it for three years.
The average cost to run YEA! in NH is about $40,000. Expenses include program management, class materials and field trips. Funders include John Hoffman of the Hoffman Family Foundation; Rich Clarke, president and owner of Clark Distributors; and Steve Ryder of True Networks in Keene.
Besides Keene, there are four other New England programs: one in Massachusetts, one in Maine and two in Connecticut. The program has space for 24 students and runs for 22 weeks, with classes meeting once a week. It costs $495, though scholarships are available. The application deadline is Nov. 21 and can be downloaded from the Keene Chamber of Commerce website. The program starts in January 2015. The program is segmented into three major sections: the Big Idea, the Pitch and the Launch. Students will first begin brainstorming ideas. Then each student is assigned a local business mentor in writing a professional business plan and pitch. Course instructors are Ted McGreer, owner of Ted’s Shoe and Sport in Keene; Mary Ann Kristiansen, executive director of the Hannah Grimes Center in Keene; and Ken Abbot, president of ABTech in Keene.
Students will present to a local panel seeking investment for their business. The investor panel will fund all businesses and select one winner who will move on to regional and possibly national panels. That student has the opportunity to win college scholarships.
For more information, visit yeausa.org.