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Students > Youth Entrepreneur of the Year Competition

7th Annual Youth Entrepreneur of the Year Competition


PURPOSE
Junior Achievement of the National Capital Area is pleased to announce the 7th Annual Youth Entrepreneur of the Year Competition, sponsored by Ernst & Young, which will recognize young people in the Greater Washington Region who have best embraced the entrepreneurial spirit. The competition is open to any student in the 9th-12th grade who has started and is currently running his or her own business, and will run from February 22 - April 16, 2010.


THE AWARD
The student selected as the Youth Entrepreneur of the Year:
  • Will receive an award and be recognized at the prestigious Ernst & Young Entrepreneur of the Year awards banquet on June 24, 2010.
  • Will receive a $1,000 scholarship to be used as funds for business development or college expenses.
  • Will be invited to attend the Washington Business Hall of Fame on November 30, 2010.
The Youth Entrepreneur of the Year will have the opportunity to meet many of the region’s top decision makers and business leaders at the Ernst & Young Entrepreneur of the Year awards and the Washington Business Hall of Fame. The winning student must be willing to respond to media requests for information in a timely manner.


QUALIFICATIONS
Applicants must:
  • Be enrolled students in the 9th–12th grade at an accredited high school in the 2008–2009 academic year in one of the following counties or cities:
    • Maryland - Calvert, Charles, Montgomery, Prince George’s, Saint Mary’s
    • Virginia - Alexandria City, Arlington, Clarke, Culpeper, Fairfax City, Fairfax County, Falls Church City, Fauquier, Fredericksburg, King George, Loudoun, Manassas City, Manassas Park City, Prince William, Spotsylvania, Stafford, Warren
    • Washington, DC
  • Have started and currently be running their own business or non-profit organization.
  • Be citizens or legal residents of the United States.
Please see the Official Rules for a listing of all qualifications.


APPLICATION PROCESS
Applicants must:
  • Submit a completed application cover page, business plan, and balance sheet to Junior Achievement, to be received by April 16, 2010. See the application page for a suggested cover page and business plan outline.
  • Provide two letters of recommendation from a teacher, school staff member, or customer. Letters from family members or peers are not permitted. Letters must include a description of how long and in what capacity the author has known the applicant.
  • Participate in an interview with a judging panel if selected as a finalist.


JUDGING CRITERIA
Applications will be judged on the following criteria:
  • Innovation: Does the business provide a unique product or service, or meet a market demand?
  • Level of Commitment: Does the business plan reflect the applicant’s commitment to the success of the business? (e.g., time invested, planning, etc.)
  • Resourcefulness: Has the applicant maximized his/her assets and available opportunities?
  • Goals: Are the applicant’s goals clearly defined and well thought out?
  • Product Quality: Does the applicant’s business provide a quality product or service?
  • Potential: To what degree does the applicant’s business demonstrate the potential for continued growth and success?
  • Planning: Has the applicant created a sustainable growth plan for the future?
  • Profitability: Is the applicant’s business financially stable?

An official judging committee chosen by Junior Achievement of the National Capital Area and Ernst & Young will select a winner. Junior Achievement or the official judging committee may ask for more information from applicants at any time prior to the final selections. The winner will be announced in late May 2010.


For more information, please contact David Bing, Director, Operations,
at (202) 777-4475 or David.Bing@JA.org.



2009 Youth Entrepreneur Timothy Hwang at the
Ernst & Young Entrepreneur of the Year awards program.

About The Ernst & Young Entrepreneur Of The Year® Awards Program
The Entrepreneur Of The Year® awards program was created and is produced by professional services firm Ernst & Young LLP. As the first award of its kind, the Ernst & Young Entrepreneur Of The Year award recognizes outstanding entrepreneurs who are building and leading dynamic and growing businesses. The program honors entrepreneurs through regional, national and global award programs in over 100 cities and 35 countries.

About Ernst & Young
Ernst & Young is a global leader in assurance, tax, transaction and advisory services. Worldwide, our 130,000 people are united by our shared values and an unwavering commitment to quality. We make a difference by helping our people, our clients and our wider communities achieve potential. For more information, please visit www.ey.com.

About Junior Achievement
Junior Achievement is the world's largest non-profit organization dedicated to educating students in grades K-12 about entrepreneurship, work readiness and financial literacy through experiential, hands-on programs. JA’s programs help prepare young people for the real world by showing them how to generate wealth and effectively manage it, how to create jobs which make their communities more robust, and how to apply entrepreneurial thinking to the workplace. Today Junior Achievement annually reaches more than nine million students worldwide and more than 40,000 in the Greater Washington Region. For more information, visit www.myJA.org.


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Junior Achievement of the National Capital Area
1725 I Street, NW, Suite 200, Washington, DC 20006
T: (202) 296-1200 | F: (202) 296-3837 | www.myJA.org
EIN: 54-0788947
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