Network for Teaching Entrepreneurship (NFTE) Brings Summer "Make Your Job" to Ten Communities CITI FOUNDATION BECOMES NFTE'S LARGEST CORPORATE SUPPORTER WITH $1,500,000 PATHWAYS TO PROGRESS INVESTMENT
NEW YORK, March 31, 2014 /PRNewswire/ -- Innovative, hands-on entrepreneurship training for young people will be available in ten U.S. communities this summer through a new collaboration between the Network for Teaching Entrepreneurship (NFTE) and the Citi Foundation.
"Make Your Job" is a key component of the Citi Foundation's new Pathways to Progress initiative, a three-year $50 million commitment to unlock economic opportunity for 100,000 low-income youth across the United States. NFTE will offer three expanded entrepreneurship training programs enabling young people in 10 communities to make their own summer jobs. The "Make Your Job" program includes:
- BizCamps® – a compressed, intense version of the NFTE in-classroom entrepreneurship education which teaches entrepreneurship thinking and business skills. The 18 camps will serve young people in New York City, Newark, Dallas, Chicago, Los Angeles, San Francisco, Bridgeport (CT), Miami, Washington, D.C. and Baltimore.
- Startup Summer – a business accelerator program which will be open to young people who have already completed NFTE's core entrepreneurship program either in their classroom or through a BizCamp®. Participants are led through all aspects of creating their business and given seed capital to start operations. Startup Summer also acts as a summer job for the participants, as they are paid to participate. The program will serve young people New York City and Los Angeles.
- MakeYourJob.org – a dynamic, youth-centered web community that converts key aspects of NFTE's entrepreneurship program into interactive game play and rewards-based experiences that demonstrate how to turn one's hobby or interest into a business and brings the power of entrepreneurship to tens of thousands of young people across the country
"The entrepreneurial mindset is a powerful tool and it can be taught," says Amy Rosen, NFTE's President & CEO. "When young people see that they can use math to calculate business profits and use creative writing in marketing, they get it – and they engage with school and begin to take full ownership their future."
Having a summer job can be an important building block to career success but research shows that summer employment options are declining. Recent trends demonstrate that young people from more affluent families are more likely to take summer employment – leaving fewer low-income young people in position to compete for future opportunities.
"Make Your Job" is different from many other summer employment programs because it will train, motivate and encourage young people to find summer employment through innovation and entrepreneurship – making their own jobs.
"A summer job is about more than pizza money – it gives young people the chance to learn new skills and discover their talents," said Daymond John, founder of FUBU clothing and celebrity entrepreneur on ABC's "Shark Tank." "Showing young people that they can make their own summer jobs – wherever they are – is important and a great way to give young people a jump on entrepreneurship."
NFTE has taught entrepreneurship to more than 500,000 youth for more than 25 years and operates in-school programs in 19 U.S. locations and 13 countries globally. According to a recent study of NFTE alumni, those who learn about entrepreneurship are more likely to graduate high school, start a business, be employed and, on average, earn more money than their peers.
"These programs and services will spark entrepreneurial thinking and change lives," said Rosen. "And we simply could not offer them without the leadership, financial support and technical expertise of the Citi Foundation."
"If we want a strong labor force for generations to come, we need to make sure our country's youth are prepared to meet the evolving needs of employers," said Citi CEO Michael Corbat. "Through Pathways to Progress, we will connect young people with opportunities to fuel their own career ambitions and develop the skills that are needed in a 21st century economy. The professional success and civic engagement of our young men and women are critical to our economic competitiveness, and we are proud to support them."
About the Citi Foundation
The Citi Foundation works to promote economic progress in communities around the world and focuses on initiatives that expand financial inclusion. We collaborate with best-in-class partners to create measurable economic improvements that strengthen low-income families and communities. Through a "More than Philanthropy" approach, Citi's business resources and human capital enhance our philanthropic investments and impact. For more information, visit www.citifoundation.com
About the Network for Teaching Entrepreneurship
Too many young people today drop out of school and struggle to break the cycle of poverty. Since 1987, the Network for Teaching Entrepreneurship (NFTE) has been inspiring young people to pursue educational opportunities, start their own businesses, and succeed in life. By providing entrepreneurship education programs relevant to the real world, NFTE empowers students to own their educations in and out of the classroom and to find their own path to success. Hundreds of thousands of students have discovered opportunity all around them through entrepreneurship via thousands of certified educators worldwide. NFTE supports active programs in 19 U.S. locations and 13 countries around the world. Entrepreneurs are a powerful driver of economic growth and NFTE sows the seeds of innovation in students worldwide. To learn more visit www.nfte.com, like us on Facebook at Facebook.com/NFTE or follow us on Twitter at @NFTE
Contact: Derek Newton
Derek.Newton@NFTE.com 212-232-3333 x316
SOURCE Network for Teaching Entrepreneurship