Finding funds to get your business ideas off the ground or advance your already established business can be a challenge for a young entrepreneur. In Part One of “Where is the Money?” we explore some of these sources
Youth Entrepreneur Contests:
One way to get some seed money is to enter contests. These programs award cash prizes to young entrepreneurs. Below are some examples.
This award focuses on science. Each month, W.I.S.E. offers a variety of new contests and grants to encourage students to think big. Their overall mission is to see young startups expand to international horizons, as well as to support ideas that change the world for the better.
Most recently, W.I.S.E. has offered a new award called the “Student Ideas for a Better America” this award was from “Frances O. Williamson, Inventions in Science Education Program.” Ms. Williamson was a deeply loved Science teacher for 25 years who motivated students with progressive education values and hands-on learning opportunities.
The applications are grouped by age level (from PreK to college) so that the competition is fair.
Youth submit their business results to the Lemonade Day National 2021 youth entrepreneur contest. You can win up to $500. This year’s contest ends August 23, 2021, so check out this link for the details and get in your submissions in.
Colorado hosts a completion for young entrepreneurs in that state who sell or invent things to receive some serious award money; the winner gets $5,000! The contest is divided into age groups (6-21) to make the competition more fair.
How does $100,000 in cash prizes sound? The winner could be you! This contest is a creation of the University of Delaware Horn Entrepreneurship, but any teen from any location can win. The contest emphasizes creativity.