NFTE Names 17-Year-Old Aaron Trinidad of Chicago Top Young Entrepreneur of 2019
Teen entrepreneurs from across the U.S. competed for $40,000 in prizes at 14th annual National Youth Entrepreneurship Challenge
NEW YORK, Oct. 18, 2019 /PRNewswire-PRWeb/ -- NFTE (Network for Teaching Entrepreneurship) announced today that 17-year-old Aaron Trinidad of Chicago, IL, won the top prize at NFTE's 14th annual National Youth Entrepreneurship Challenge, which was sponsored by Citi Foundation and Ernst & Young LLP (EY), with additional support from PayPal. More than 20,000 students from across the U.S. entered the early rounds of the Youth Entrepreneurship Challenge last spring. The top 36 competitors to emerge from a series of local and regional pitch competitions held throughout the spring and summer traveled to New York City this week to compete in "Nationals," an all-day pitch-off that was held on Wednesday, October 16.
After a series of elimination rounds, three national finalists took the stage at TheTimesCenter to pitch their businesses in front of a live audience and a panel of six VIP judges, going head-to-head for a chance to take the top national title and win seed money that can help them grow their businesses or further their educational goals. Judges awarded a total of $40,000 in prize monies to national competitors.
Aaron Trinidad, a student at Holy Trinity High School, took first place with his business plan and pitch for Lender, a mobile app designed to match up volunteers with nonprofit volunteering opportunities. He was awarded cash prizes totaling $17,000 that can be used to grow his business or pursue educational goals.
"Competing at Nationals was such a rewarding experience! Being able to meet and network with so many young entrepreneurs was fun and enriching. I met so many incredible people," says Trinidad. "I am extremely happy my hard work showed and that it all paid off. As the founder and CEO of Lender, I look forward to working with NFTE and its supporters to possibly further and develop my app."
Two runners up were each awarded prizes totaling $9,000. Ela Gokcigdem, a 17-year-old student at Wakefield High School in Arlington, VA, pitched her business, ePearl, a noise-cancelling wireless earbud that's made of 100% recycled plastic. Gabriel Sheikh, a 17-year-old student who also attends Trinity High School in Chicago, pitched his business, Presistant, an app that employs AI software to help you improve your presentation skills.
"We were so inspired by the talent and innovation these young entrepreneurs brought to this year's Challenge," said Dr. J.D. LaRock, NFTE's President and Chief Executive Officer. "It takes a lot of hard work and tremendous determination to not only develop a business plan, but to present it to a panel of judges on stage in front of 250 people. One in three employers looks for entrepreneurial experience when hiring, which means we are setting these students up for success. We can't wait to see where their future endeavors take them. Congratulations to this year's winners and all who competed."
The judges for the final round of competition included NFTE alum James "Jimmy Mac" McNeal, Founder & CEO of Unionsquare Shoes; Monique Townes, Senior Vice President of Experiential Marketing, Citi; Anthony Sgammato, Partner, Americas Assurance Private Client Services, EY; Darrell Esch, Senior Vice President and General Manager for Global Credit, PayPal; Eric Hicklen, Founding Partner, WowMii Ventures; and Ilana Messing, Director, Start Path Mastercard Labs.
"Investing in the world's future entrepreneurs is extremely important. Not only do entrepreneurial initiatives only drive economic growth, but, ultimately, they make the world a better place," said Michael J. Kacsmar, Partner, EY. "NFTE activates the entrepreneurial mindset in students and NFTE competitions provide an outlet where students can continue to cultivate their skills and strengths as entrepreneurs. Observing these incredible young entrepreneurs as they present their business plans each year at the National Youth Entrepreneurship Challenge is always inspiring. EY is honored to support this incredible event."
The afternoon's events also included the final round in a separate competition track for students in NFTE's Entrepreneurship 2 program, an advanced course where students refine their business models and further develop their products or services. The finalists were selected from a pool of 954 student ventures around the country and competed for a portion of $15,000 in seed capital. Jasmine Benton of DeSoto, TX, won the title Winning Business Venture for her business, Precious Designs, a home furnishings and interior decorating company. The 18-year-old college freshman took home $7,500 of the prize pool.
"To compete in today's job market, young people need a diverse skillset and the confidence to help them reach their career goals. Through this challenge, NFTE students demonstrated the power of entrepreneurship as a tool in developing skills such as self-drive, resourcefulness, and flexibility," said Florencia Spangaro, Director of Programs, Citi Foundation. "We are proud to join NFTE and its partners in congratulating this year's winners and thank our Citi volunteers across the country who served as business plan coaches and mentors for the students competing in Nationals."
In keeping with the importance NFTE places on volunteers from the business community, The Alper Family Foundation presented two awards for outstanding volunteer service: Alexander Van Atta, a Customer Engagement Consultant with Slalom Consulting in Chicago, was named Individual Volunteer of the Year, and SAP was named Corporate Volunteer of the Year.
- Van Atta supports students in two NFTE classrooms with advisor teams on a monthly basis, and this year, he spearheaded a unique virtual volunteer session for Slalom and its clients that provided students with valuable feedback on their business ideas.
- SAP was honored for their longtime involvement with NFTE students and teachers across the country. Since 2005, hundreds of SAP team members have supported NFTE students by volunteering their time to serve as coaches, judges, speakers, and field trip hosts, as well as leaders on NFTE's Board of Directors and Regional Advisory Boards.
Photos and detailed biographies are available on request for all the National Challenge competitors, along with information on the winning businesses.
About NFTE
NFTE (Network for Teaching Entrepreneurship) is the leading educational nonprofit focused on teaching startup skills and activating the entrepreneurial mindset in young people from under-resourced communities. Research shows the entrepreneurial mindset—a set of skills including initiative, self-reliance, adaptability, creativity, critical thinking, problem solving, communication, and collaboration—leads to lifelong success. Empowered by the entrepreneurial mindset and equipped with the business and academic skills NFTE teaches, program alumni are prepared to thrive. NFTE works with schools and community partners across the U.S. through its nationwide network of program offices. Alliances with global youth development organizations bring NFTE programs to additional students internationally. NFTE reaches more than 100,000 young people annually and has served well over a million students since its founding. Learn more at nfte.com.
About Citi Foundation
The Citi Foundation works to promote economic progress and improve the lives of people in low-income communities around the world. We invest in efforts that increase financial inclusion, catalyze job opportunities for youth, and reimagine approaches to building economically vibrant cities. The Citi Foundation's "More than Philanthropy" approach leverages the enormous expertise of Citi and its people to fulfill our mission and drive thought leadership and innovation. For more information, visit citifoundation.com.
About EY
EY is a global leader in assurance, tax, transaction, and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients, and for our communities.
EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. Information about how EY collects and uses personal data and a description of the rights individuals have under data protection legislation are available via ey.com/privacy. For more information about our organization, please visit ey.com.
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