The People's Money (2023-2024)

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Phase 4 of 4

Project Implementation 07/01/2024 - 06/30/2025

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Youth Entrepreneurship Development Program

GWEC Youth Leadership Council

19/11/2023 21:03

In which borough should your idea take place?: Manhattan
Do you have a specific neighborhood(s) in mind?: Washington Heights and the Bronx
Which audience(s) does your idea help? Select as many as apply.: Youth

Parents

Justice impacted individuals

Limited English proficient individuals

Low income individuals

Black, Indigenous, and POC

Unemployed individuals

Immigrants and/or migrants

People with disabilities
Describe the challenge you want to address:: Here are the key challenges that the project aims to tackle: Limited Exposure to Entrepreneurship, lack of hands-on experience, insufficient mentorship, limited financial resources, inadequate networking opportunities, underdeveloped presentation and communication skills, limited understanding of market dynamics, lack of social responsibility in entrepreneurship, and absence of continuous support and evaluation.
Describe your idea and approach to address the challenge:: Limited Exposure to Entrepreneurship: How the Project Addresses It: The structured entrepreneurship curriculum provides students with a comprehensive introduction to key entrepreneurial concepts, filling the gap in traditional high school education. This exposure helps demystify entrepreneurship and encourages students to consider it as a viable career path. Lack of Hands-On Experience: How the Project Addresses It: The research study opportunities and seed funding for student ventures offer practical, hands-on experience in creating and managing a business. This addresses the challenge of theoretical knowledge without practical application, allowing students to learn by doing. Insufficient Mentorship: How the Project Addresses It: The mentorship program connects students with experienced entrepreneurs and professionals who can guide and support them throughout their entrepreneurial journey. This direct mentorship addresses the lack of personalized guidance often faced by aspiring young entrepreneurs. Limited Financial Resources: How the Project Addresses It: The provision of seed funding for student ventures addresses the financial barrier to entrepreneurship. By providing initial capital, the project enables students to turn their business ideas into reality, promoting innovation and risk-taking. Inadequate Networking Opportunities: How the Project Addresses It: Workshops, events, pitch competitions, and community engagement activities create networking opportunities for students. These interactions expose them to a broader entrepreneurial ecosystem, allowing them to connect with industry professionals, successful entrepreneurs, and potential investors. Underdeveloped Presentation and Communication Skills: How the Project Addresses It: The pitch competitions and presentation components of the program help students hone their communication and presentation skills. This is essential for effectively conveying their business ideas, attracting support, and building confidence in public speaking. Limited Understanding of Market Dynamics: How the Project Addresses It: The research study opportunities involve students in practical market research, enabling them to understand market dynamics, consumer behavior, and industry trends. This hands-on experience equips them with valuable insights that are crucial for entrepreneurial success. Lack of Social Responsibility in Entrepreneurship: How the Project Addresses It: The community engagement component encourages students to connect with and contribute to their local communities. This instills a sense of social responsibility, emphasizing the positive impact that entrepreneurship can have on society. Absence of Continuous Support and Evaluation: How the Project Addresses It: The mentorship program, ongoing workshops, and a robust program evaluation system ensure continuous support for students. This addresses the challenge of a lack of sustained guidance and feedback throughout the entrepreneurial learning process. By addressing these challenges, the Youth Entrepreneurship Development Program aims to create a holistic and impactful learning experience for high school students, fostering a new generation of informed and empowered entrepreneurs.
Write the zipcode that best represents your New York City community:: 10032, 10033, 10034, 10040