NEW YORK, Sept. 10, 2012 /PRNewswire/ -- Budding teen entrepreneurs from around the country are counting on America's vote to be crowned champion of the third annual Elevator Pitch Challenge, presented by the Network for Teaching Entrepreneurship (NFTE) with the support of E*TRADE Bank. As part of NFTE's 25th Anniversary year celebration and its 2012 National Youth Entrepreneurship Challenge, teen entrepreneurs representing 34 businesses will have up to 60 seconds to sell their business ideas to the country in an online video "elevator pitch." The grand prize winner will receive $2,500 to help get their business idea off the ground or advance their education. Two runners-up will also receive $500 each, and daily and weekly prizes from MasterCard and Southwest Airlines are also available.
Online voting is open now through October 9 at www.elevatorpitch2012.com, where the public is encouraged to view the elevator pitch videos and cast their votes for the best business ideas. Each of the 34 businesses is the brainchild of a high school or middle school student from a low-income community who learned how to start a business in classrooms that incorporate NFTE's unique, experiential entrepreneurship curriculum.
"As a leader in online financial services, E*TRADE is dedicated to empowering individuals to take control of their financial futures," said Celie Niehaus, Vice President, Bank Compliance at E*TRADE Bank. "We are honored to support NFTE in motivating young people to think innovatively and plan for a successful future. We look forward to seeing what this year's Elevator Pitch Challenge competitors have up their sleeves."
Voters can cast up to one vote per day for their favorite business pitch video until the end of the contest. The elevator pitch competition winner will be announced at the 2012 NFTE National Youth Entrepreneurship Challenge, presented by MasterCard Worldwide in association with Kathryn W. Davis, on October 11 in New York City.
"At the heart of what we do at NFTE for the past 25 years, is to inspire low income youth to stay in school, to recognize business opportunities and to plan for successful futures," said Amy Rosen president and CEO of NFTE. "Our Elevator Pitch Challenge is a concrete example of the capability of our students and their exceptional business plans, from around the nation. It's a privilege to present this online competition which offers a financial incentive because it's a fun and creative platform that continues to instill valuable business skills to our leaders of tomorrow."
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 21 states and 11 countries around the world. Entrepreneurs are a powerful driver of economic growth and NFTE sows the seeds of innovation in students worldwide. For more information, visit www.nfte.com.
SOURCE Network for Teaching Entrepreneurship