NFTE NY Metro will collaborate with NYU’s edtech incubator, StartEd, to support students’ journey to launching a business and offer cash and prizes.
NYU’s edtech incubator, StartEd, and Network for Teaching Entrepreneurship (NFTE) NY Metro, a nonprofit that provides entrepreneurship education to young people from under-resourced communities, today announced a collaboration to offer free summer BizCamps to 75 young people ages 13–18, presented by the Citi Foundation.
The BizCamps will take place from July 10 to July 21 for five days a week from 8:30 A.M. to 5 P.M with a free and nutritious meal provided by Smart Lunches. The bootcamps will culminate with a shark tank-like presentation where the teens will pitch their business plans to a panel of judges and compete for cash prizes to advance their businesses.
“This is the first year that NFTE NY Metro BizCamps will be held at an actual incubator space, inhabited by actual startups, which will offer teens a firsthand experience into the day and life of what it takes to be an entrepreneur," said Ash Kaluarachchi, co-founder of StartEd. “These students will not only be immersed in daily learning about business but they’ll also gain real world insight about the skills and determination that working at a startup takes.”
The teenagers will learn how to develop their entrepreneurial mindset, the way entrepreneurs recognize opportunities and overcome obstacles. The students will be challenged to create ambitious yet practical plans and encouraged to use their entrepreneurial mindset to dream big and know they can accomplish anything.
“Today’s youth need a mindset that prepares them to respond to opportunity so they can take initiative and innovate in the face of challenges," said Zvia Schoenberg, Program Director of NFTE NY Metro. “That is precisely what NFTE BizCamps offer and we are thrilled to partner with StartEd to support this unique framework to help kids grow and experience this essential entrepreneurial mindset.”
NFTE BizCamp activities include return on investment, supply and demand, opportunity recognition and marketing. Guest speakers will include business professionals who bring the outside world to the BizCamp setting, and field trips will include meetings with entrepreneurs at their workplace. Additionally, this year the students will be able to access all the resources and mentorship that StartEd provides for its resident edtech startups.
These summer business boot camps are supported by the Citi Foundation’s Pathway to Progress initiative, a two-year partnership that provides innovative, hands-on entrepreneurship training for young people across several major US markets. That initiative involves Citi Foundation's investment of $100 million to connect 500,000 young people, ages 16–24, to training and jobs over the next three years.
About Citi Foundation Pathways to Progress
NFTE BizCamps across the country are supported by the Citi Foundation as part of its Pathways to Progress global expansion to prepare urban youth for today’s competitive job market. Thousands of students participate in this initiative led by the Citi Foundation designed to help young people become career-ready through first jobs, internships and leadership and entrepreneurship training.
About Network for Teaching Entrepreneurship (NFTE)
Network for Teaching Entrepreneurship (NFTE) is an international nonprofit that activates the entrepreneurial mindset in young people and builds their knowledge about business startup. Students acquire the entrepreneurial mindset (e.g., innovation, self-reliance, comfort with risk), alongside business, STEM (Science, Technology, Engineering, Math), and presentation skills—equipping them to drive their best futures in the 21st Century. NFTE focuses its work on under-resourced communities, with programs in 22 locations in 9 countries. For more information, please visit nfte.com, like NFTE on Facebook at Facebook.com/NFTE, and follow NFTE on Twitter at @NFTE.
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