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"Winning the Youth Entrepreneur of the Year Award was a great honor. Not only did it open doors for me as I went on to pursue other opportunities and ventures, but the organization and all the hard-working people in it were given the recognition that they truly deserved.
I would highly encourage students to apply to this prestigious program and participate in a once in a lifetime opportunity!"
- Tim Hwang, 2009 Youth Entrepreneur of the Year
Junior Achievement is pleased to announce the 9th Annual Greater Washington Youth Entrepreneur of the Year Competition, sponsored by Ernst & Young, which will recognize young people in Greater Washington 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 1 - April 11, 2012.
THE AWARD
The student selected as the Greater Washington Youth Entrepreneur of the Year:
- Will receive an award and be recognized at the prestigious Ernst & Young Entrepreneur of the Year Awards on June 21, 2012.
- Will receive a $1,000 award to be used as funds for business development.
- Will be invited to attend the Washington Business Hall of Fame in fall 2012.
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:
- Have started and currently be running a business or non-profit organization.
- Be enrolled students in the 9th–12th grade at an accredited high school in the 2011–2012 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
- 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 4:00 p.m. on April 11, 2012. 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 Greater Washington 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 selection. The winner will be announced in June 2012.
Mail Applications To:
Junior Achievement of Greater Washington
Youth Entrepreneur of the Year Competition
1050 17th Street, NW, Suite 750
Washington, DC 20036
For more information, please contact
David Bing, Director, Development Operations, at (202) 777-4475 or David.Bing@JA.org.
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 140 cities and 50 countries.
About Ernst & Young
Ernst & Young is a global leader in assurance, tax, transaction and advisory services. Worldwide, our 152,000 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 their potential. For more information, please visit www.ey.com.
About Junior Achievement
Junior Achievement is the world's largest organization dedicated to giving young people the knowledge and skills they need to own their economic success, plan for their future, and make smart academic and economic choices. JA programs are delivered by corporate and community volunteers, and provide relevant, hands-on experiences that give students from kindergarten through high school knowledge and skills in financial literacy, work readiness and entrepreneurship. Today, JA reaches four million students per year in more than 120 markets across the United States, with an additional 6.5 million students served by operations in 117 other countries worldwide. More than 52,000 students in Greater Washington will be served in academic year 2011-2012. For more information, please visit www.myJA.org.
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