SPOTLIGHT: Inspiring Moments at the National Youth Entrepreneurship Challenge

Congrats to NFTE's Champion & Innovative Competitors

October 3, 2023, marked a day of innovation and inspiration as 51 students from our seven US Network for Teaching Entrepreneurship domestic regions gathered at the InterContinental Hotel in Times Square for NFTE's National Youth Entrepreneurship Challenge.

The business pitch competition showcased an array of business ideas, representing the diversity and innovation of young entrepreneurs from across the country. Ideas ranged from innovative tech startups to sustainable fashion ventures. Competition was fierce!

After three intense rounds of pitching, one student emerged as the winner: Raneem Al Suwaidani, a student at The Met School in Providence, Rhode Island. She secured first place with her business, Lilypad - a food truck rental opportunity specifically designed for BIPOC entrepreneurs to test their culinary concepts in a low-cost and risk-free environment. Raneem was awarded $10,000 and a 45-minute mentorship session with Daymond John, The People’s Shark and the founder and CEO of FUBU, a $6 billion hip-hop apparel company.

In addition to the grand prize, two runners-up were also recognized for their business ventures. Ashley Cruz Suarez, the creator of Re-Fit, and Sarai Umansor Morales, the founder of Fiery, received $2,500 each that can be used to grow their businesses or further their educational goals.

With the support of organizations like the Citi Foundation, EY US, PayPal, and Santander, these students have the opportunity to grow and scale their businesses.

Every year, the National Youth Entrepreneurship Challenge showcases business concepts that can shape our economic future, revolutionize traditional industries, and inspire new thinking around the use of emerging technologies. This year was no different and served as a testament to the power that innovation and determination hold in shaping a brighter future.

President's Perspective

Happy National Women’s Small Business Month!

According to the U.S. Small Business Administration, there were only around 400,000 women-owned businesses in the United States in 1972. Until 1988, women needed a male relative to co-sign if they wanted to apply for a business loan. That same year, Congress passed the Women’s Business Ownership Act, increasing financial assistance to organizations helping women-owned small businesses.

As a result, by 2019, women-owned businesses represented 42% of all U.S. businesses and generated $1.9 trillion worth of revenue. Today, there are over 13 million women-owned businesses!

We have seen the same success and growth with our own NFTE students. While most research suggests that women are less likely to pursue entrepreneurship as a viable career path, our research has found the opposite to be true. Female NFTE students actually perform better than males in entrepreneurial mindset growth at a statistically significant level. Additionally, entrepreneurial ambitions for young women grow significantly when given early exposure to startup skills. For example, at the start of NFTE courses, male students are almost three percentage points more likely than female students to want to own a business. By the end of a NFTE course, that gap almost disappears.

In other words, existing gender gaps in small business and entrepreneurship are not based on lack of ability; they’re based on lack of access to capital and good entrepreneurship education.

In fact, young women were the stars at our recent National Youth Entrepreneurship Challenge. Raneem Al Suwaidani from our New England region took home the first-place win. Ashley Cruz Suarez from our West region and Sarai Umansor Morales from our Southeast region were named runners up. Rachel Solomon was awarded our inaugural Inclusive Innovator Award. Brava to these talented young women who are paving the way for the next generation of women in business!

I hope you'll visit nfte.com/fuelafuture and join us as we ignite the entrepreneurial mindset in these and other young entrepreneurs to create a more inclusive future for women in business.

Corporate Partnership Spotlight

NFTE is excited to announce that we have received grants from the General Motors Foundation and the Motorola Solutions Foundation to support the creation and implementation of NFTE’s new Tech Entrepreneurship BizCamps in the Midwest, South, and Southeast. This enhanced out-of-school STEM programming will incorporate technology instruction, hands-on learning experiences, field trips, and engagement with volunteers who are local tech professionals and entrepreneurs.

NFTE’s Tech Entrepreneurship BizCamps will offer an intensive 40- to 80-hour entrepreneurship education experience focused on creation of technology-based business plans, applied learning with technology tools, exploration of STEM-related careers, and opportunities to earn design thinking certification and more!

Congratulations to Slalom for being honored as NFTE’s 2023 Corporate Volunteer of the Year!

The dedication of corporate volunteers is one of our most powerful catalysts for transforming and impacting a young person’s vision of themselves and their future opportunities. Slalom volunteers have devoted countless hours to serving as business plan coaches, competition judges, speed networking participants, and more. Slalom executives coach to empower and encourage NFTE learners in all phases of business development and provide valuable insight into career exploration and opportunity recognition.

A big thank you to Slalom for its financial support of NFTE’s mission and Slalom volunteers for igniting the entrepreneurial mindset in youth across the country!

Jumpstart the holiday season and celebrate National Entrepreneurship Month with NFTE! This November, we invite you to join our Fuel a Future campaign. On November 17, donate the cost of your "morning fuel" to support NFTE students. Your contribution will fuel the future of students from under-resourced communities and give them the spark they need to ignite their entrepreneurial mindset.

Imagine the impact of transforming a simple cup of coffee into an investment that empowers young entrepreneurs to shape a brighter future. When you support NFTE, you're not just providing financial assistance; you're investing in the potential of the next generation of diverse entrepreneurs and business leaders. For every $500 we receive, NFTE can support another student for a full year. Every dollar makes a difference!

Fuel a Future

Upcoming Events

November 15 UN Global Goals Conversation

Get Tickets

November 16 World Youth Entrepreneurship Challenge

Watch the Livestream

“Healthy & Resilient: Adapting to a Changing World” will be the focus of the annual UN Global Goals Conversation, hosted by NFTE on November 15. The event will bring together a panel of emerging entrepreneurs, corporate innovators, and nonprofit leaders to explore strategies for creating and sustaining good health and well-being for ourselves, our communities, and our planet, while advancing UN Sustainable Development Goal 3.

Join us for the second annual World Youth Entrepreneurship Challenge! Twenty-nine NFTE students from 11 different countries will join together on November 16 in New York City to compete in this global business plan pitch competition. Winners from global partner organizations will join U.S. National Youth Entrepreneurship Challenge champions to vie for the $5,000 first-place prize. Watch the final round live!

NFTE in the News

Providence Business News: Met School senior wins national competition.
Providence Business First: RI student wins national pitch competition in NYC.
Youth Today: Teen turns walker wheel woes into new business.
Youth Today: Tim Blaylock named NFTE West Region executive direct or.
EchoLive (Ireland): Bantry schoolgirls bound for New York.
SkillPointe: Entrepreneurial Thinking Matters for Everyone — Including You.