Transcript Slide 1
TANYA’S STORY Youth entrepreneurship education in America. © The National Foundation for Teaching Entrepreneurship (www.nfte.com) “ I believe in the free market, competition, and entrepreneurship. President Barack Obama The Audacity of Hope © The National Foundation for Teaching Entrepreneurship (www.nfte.com) ” Young people in low-income neighborhoods want the same things we all want. © The National Foundation for Teaching Entrepreneurship (www.nfte.com) To get a good education. To earn enough money to live well. To make their family proud. The trouble is, very few have a clear path for how to get there. Worse, they might not feel like society expects them to succeed. Did you know? An estimated of minority youth drop out of high school. The Manhattan Institute © The National Foundation for Teaching Entrepreneurship (www.nfte.com) Did you know? said they would not have dropped out if school was more relevant to real-life. Civic Enterprises and The Bill & Melinda Gates Foundation © The National Foundation for Teaching Entrepreneurship (www.nfte.com) What if high school were more relevant in preparing youth to make it in our economy? © The National Foundation for Teaching Entrepreneurship (www.nfte.com) Did you know? 1 in 5 youth live in poverty in America How would you define “poverty”? © The National Foundation for Teaching Entrepreneurship (www.nfte.com) In many American cities, poverty is defined as… Source: Federal Register, Vol. 73, No. 15, January 23, 2008, pp. 3971–3972. © The National Foundation for Teaching Entrepreneurship (www.nfte.com) That’s just over $50 a day… …for a family of four. © The National Foundation for Teaching Entrepreneurship (www.nfte.com) What does $50 get you? Four high school students received $50 each as an experiment. Lena used her $50 to open a savings account. © The National Foundation for Teaching Entrepreneurship (www.nfte.com) Sarah took her friends to see a movie. © The National Foundation for Teaching Entrepreneurship (www.nfte.com) Maurice invested his $50 into mutual funds. © The National Foundation for Teaching Entrepreneurship (www.nfte.com) Tanya, who was in a NFTE entrepreneurship class. bought a dozen ties and scarves from a NYC wholesaler and launched © The National Foundation for Teaching Entrepreneurship (www.nfte.com) a business. So what was the return on each student’s $50 investment? © The National Foundation for Teaching Entrepreneurship (www.nfte.com) Lena earned about $1 interest from her savings account. Sarah had fun at the movies, but had no money left after it. Maurice’s mutual fund investment earned $4. Tanya sold enough ties and scarves to earn $148 dollars. She then re-invested $72 in thirty-six more scarves… Something started shifting in Tanya’s brain. © The National Foundation for Teaching Entrepreneurship (www.nfte.com) Tanya had worked part-time at a music store earning $140 a week. She wondered if she could make even more with her business. © The National Foundation for Teaching Entrepreneurship (www.nfte.com) Perhaps she could make enough money to help her mother afford the computer class she needs to get a better job? © The National Foundation for Teaching Entrepreneurship (www.nfte.com) “ I always thought business was for older people, wealthier people… But now I know that I can run my own business and not have to work for someone else. ” Tanya, Entrepreneur © The National Foundation for Teaching Entrepreneurship (www.nfte.com) Tanya got excited about more than just running her own business. She got excited about her potential. © The National Foundation for Teaching Entrepreneurship (www.nfte.com) Today, Tanya is a member of the Babson College class of 2011, on a $200,000 scholarship. By investing in herself Tanya felt more confident and in control of her future. This is a story about the power of ownership. The door to infinite possibilities was opened, changing Tanya’s life forever. © The National Foundation for Teaching Entrepreneurship (www.nfte.com) “ For the United States to survive and continue its economic and political leadership in the world, we must see entrepreneurship as our central comparative advantage. Nothing else can give us the necessary leverage to remain an economic superpower. ” Carl J. Schramm The Entrepreneurial Imperative: How America’s Economic Miracle Will Shape the World (And Change Your Life); New York: HarperCollins, 2006 “ I am calling on our nation's Governors and state education chiefs to develop standards and assessments that don't simply measure whether students can fill in a bubble on a test, but whether they possess 21st century skills like problem-solving and critical thinking, entrepreneurship and creativity ” President Barack Obama Education Speech, March 2009 © The National Foundation for Teaching Entrepreneurship (www.nfte.com) “ Not every young person wants to work for a big business so we need a systemic approach to teach them entrepreneurship. NFTE has the best program in the country. ” Arne Duncan United States Secretary of Education © The National Foundation for Teaching Entrepreneurship (www.nfte.com) • NFTE is a non-profit organization whose mission is to provide entrepreneurship education programs to young people from low-income communities. • Since its founding in 1987, NFTE has served more than 230,000 young people. • NFTE offers programs in 22 states and 13 countries around the world. Get Involved: www.nfte.com