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Young Entrepreneur Challenge


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Impacting Youth Development with Entrepreneurship

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Young Entrepreneur Challenge

  1. 1. IMPACTING YOUTH DEVELOPMENT WITH ENTREREPENRUSHIP Frank E. Pobutkiewicz Managing Director, Whiteboard Youth Ventures © Whiteboard Youth Ventures 2017 Publication Date: May 1, 2017
  2. 2. I. About Whiteboard Youth Ventures II. Whiteboard Founder III. Why Youth Entrepreneurship? IV. Young Entrepreneur Challenge Program V. Program Overview VI. Workshops VII. Mission & Goals VIII. Teaching Methods IX. Outcomes CONTENTS
  3. 3. Founded in Cambridge, Massachusetts by serial entrepreneur Frank Pobutkiewicz with the goal of empowering high school and secondary school students, Whiteboard has worked with over 400 students from over 25 countries around the world.
  4. 4. Frank Pobutkiewicz Educator, Entrepreneur, Speaker, Writer • Top ranked global debate coach • Serial entrepreneur, having started or advised 8 companies since 2010 • B.Sc. Business Administration, B.A. International Relations from Boston University • His students attend Harvard, Yale, the University of Pennsylvania, the University of Chicago, Stanford, Dartmouth, Brown, and many more • TEDx Talk: Rapid Market Validation • Two books scheduled to be published in 2018
  5. 5. WHY YOUTH ENTREPRENEURSHIP IS IMPORTANT • The youth unemployment rate in emerging markets is over 53% 1 • Self-employed entrepreneurs of people under 24 are lower than those older 2 • Many younger people 15-24 years old are unaware of entrepreneurship as a feasible pursuit • Small and Medium Enterprises account for more than half of all formal jobs 3 1. United Nations Envoy on Youth 2. OECD 3. World Bank Group
  6. 6. Over the course of a jam-packed week, think of a new business idea, perform primary market research, build a prototype, speak to investors, work with mentors, and meet friends and future business partners.
  7. 7. Young Entrepreneur Challenge by the numbers 4+ Years Developing and Testing Our Curriculum 25+ Countries from where our Students, Teachers, and Mentors hail 500+ Students We’ve Worked with 100 Our goal is to bring 100 student-founded, student- driven, and student-operated ventures to market over the next 5 years. $400,000 Combined revenue for companies that our students have launched over the past four years.
  8. 8. Young Entrepreneur Challenge Overview Program Length: How it Starts: During the Program: 6 Days, 8 Hours/Day Students are assigned randomly into teams of 4-8 students. Each student team is assigned a mentor to guide them through the workshops and challenges throughout the program. Student teams will compete in a series of challenge, case studies, business consultations, and presentations. Each challenge is designed to help teams make progress on their overarching project. Student Goals: Student teams must design a unique, sustainable business idea that they could realistically start upon the conclusion of the program. The Final Showcase gives student teams the chance to present their progress and plans if they were to launch.
  9. 9. Young Entrepreneur Challenge Workshops BusinessModel Workshops Value Proposition Workshops Customer Segmentation and Primary Research Business Models: Revenues and Distribution Analytics Business Models: Cost Structure, Activities, and Resources BusinessSkills Workshops Presentation and Public Speaking Audience Building Prototyping; Web and Mobile Development Key Performance Indicators Budgeting and Finance
  10. 10. Primary Mission: Increase analytical aptitude by using entrepreneurship as a vehicle to inspire students. Business Knowledge Goals (Areas of Knowledge): 1. Ensure students understand how business creates value for stakeholders and how that value can be transferred; 2. Explain how the value created by businesses is matched to the needs of customers and how businesses can incorporate customer feedback into design; 3. Demonstrate how value can be translated into revenue and profit in a responsible, sustainable manner. Business Skills Goals (Areas of Practice): 1. Equip students with the minimum skill set to plan and launch a new venture; 2. Demonstrate and practice how to match brand and marketing goals to customer-facing vehicles, such as a web and social media presence; 3. Ensure students understand how to create a budget, analyze key metrics, and make decisions using data- driven analysis. MISSION AND GOALS
  11. 11. Young Entrepreneur Challenge Curriculum Design Matrix AreaofPractice Presentation&PublicSpeaking AudienceBuilding Prototyping&Web/Mobile Design AnalyticsandKeyPerformance Indicators Budgeting&Finance 21st Century Learning Skills: AreaofKnowledge UnitTopic Value Proposition Creativity&Innovation CriticalThinking&ProblemSolving Communication&Collaboration InformationLiteracy Customer Segmentation and Relationships Channel Distribution Revenue Steams and Pricing Key Resources, Activities, and Partnerships Cost Structure Pattern Recognition
  12. 12. TEACHING METHODS Interactive Workshops Inverted/Flipped Classroom High Intensity Learning Team Project We follow a 9 Minute Rule, which requires us to change our teaching activity every 9 minutes to keep workshops inactive and engaging. Student teams must complete assignments and presentations on topics not yet introduced in formal teaching. Teaching “sprints” offer an intensive amount of information. Students are challenged to absorb as much as possible while coordinating with team members. The team project is a backbone of the Young Entrepreneur Challenge, requiring teams to develop a new business concept and plan its launch in just five days.
  13. 13. Young Entrepreneur Challenge Outcomes Final Showcase & Awards The community is invited to participate in our Final Showcase, giving all of the student teams the opportunity to present in front of community leaders, family, and friends. We also award a Founder Award to one student on each team. Boston Invitation The winning team and students who win Founder Awards will be given an invitation to participate in the Boston Young Entrepreneur Challenge, which attracts students from around the world to compete in Boston, held on BU’s and MIT’s campuses. Whiteboard Network Participants, students and teachers, will join the global Whiteboard Youth Network, the largest network on youth entrepreneurs in the world. Participants will also gain access to additional resources on the Whiteboard website. Whiteboard Certification All students who successfully complete the Young Entrepreneur Challenge earn a Whiteboard Youth Venture Certificate, certifying an understanding of business models and skills taught during the programs.
  14. 14. IMPACTING YOUTH DEVELOPMENT WITH ENTREREPENRUSHIP Frank E. Pobutkiewicz Managing Director, Whiteboard Youth Ventures © Whiteboard Youth Ventures 2017 Publication Date: May 1, 2017