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© The National Foundation for Teaching Entrepreneurship (www.nfte.com)www.nfte.com Youth entrepreneurship education in America. TANYA’S STORY.

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Presentation on theme: "© The National Foundation for Teaching Entrepreneurship (www.nfte.com)www.nfte.com Youth entrepreneurship education in America. TANYA’S STORY."— Presentation transcript:

1 © The National Foundation for Teaching Entrepreneurship (www.nfte.com)www.nfte.com Youth entrepreneurship education in America. TANYA’S STORY

2 © The National Foundation for Teaching Entrepreneurship (www.nfte.com)www.nfte.com President Barack Obama The Audacity of Hope I believe in the free market, competition, and I believe in the free market, competition, and entrepreneurship. “ ”

3 © The National Foundation for Teaching Entrepreneurship (www.nfte.com)www.nfte.com Young people in low-income neighborhoods want the same things we all want. Young people in low-income neighborhoods want the same things we all want.

4 To get a good education. To earn enough money to live well. To make their family proud.

5 The trouble is, very few have a clear path for how to get there. 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.

6 © The National Foundation for Teaching Entrepreneurship (www.nfte.com)www.nfte.com The Manhattan Institute drop out of high school. 50% of minority youth An estimated Did you know?

7 © The National Foundation for Teaching Entrepreneurship (www.nfte.com)www.nfte.com Civic Enterprises and The Bill & Melinda Gates Foundation to real-life. 81% dropped out if school was more relevant said they would not have Did you know?

8 © The National Foundation for Teaching Entrepreneurship (www.nfte.com)www.nfte.com What if high school were more relevant in preparing youth to make it in our economy?

9 1 in 5 youth live in poverty in America Did you know?

10 © The National Foundation for Teaching Entrepreneurship (www.nfte.com)www.nfte.com How would you define “poverty”?

11 © The National Foundation for Teaching Entrepreneurship (www.nfte.com)www.nfte.com In many American cities, poverty is defined as… Source: Federal Register, Vol. 73, No. 15, January 23, 2008, pp. 3971–3972. Poverty | noun A family of four living on $21,200 a year or less.

12 © The National Foundation for Teaching Entrepreneurship (www.nfte.com)www.nfte.com That’s just over $50 a day… …for a family of four.

13 $50 get you? What does

14 Four high school students received $50 each as an experiment. Four high school students received $50 each as an experiment.

15 © The National Foundation for Teaching Entrepreneurship (www.nfte.com)www.nfte.com Lena used her $50 to open a savings account.

16 © The National Foundation for Teaching Entrepreneurship (www.nfte.com)www.nfte.com Sarah took her friends to see a movie. Sarah took her friends to see a movie.

17 © The National Foundation for Teaching Entrepreneurship (www.nfte.com)www.nfte.com Maurice invested his $50 into mutual funds. Maurice invested his $50 into mutual funds.

18 © The National Foundation for Teaching Entrepreneurship (www.nfte.com)www.nfte.com Tanya, who was in a NFTE entrepreneurship class. bought a dozen ties and scarves from a NYC wholesaler and launched a business.

19 © The National Foundation for Teaching Entrepreneurship (www.nfte.com)www.nfte.com So what was the return on each student’s $50 investment? So what was the return on each student’s $50 investment?

20 Lena earned about $1 interest from her savings account.

21 Sarah had fun at the movies, but had no money left after it.

22 Maurice’s mutual fund investment earned $4.

23 Tanya sold enough ties and scarves to earn $148 dollars. She then re-invested $72 in thirty-six more scarves… She then re-invested $72 in thirty-six more scarves…

24 © The National Foundation for Teaching Entrepreneurship (www.nfte.com)www.nfte.com Something started shifting in Tanya’s brain.

25 © The National Foundation for Teaching Entrepreneurship (www.nfte.com)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.

26 © The National Foundation for Teaching Entrepreneurship (www.nfte.com)www.nfte.com Perhaps she could make enough money to help her mother afford the computer class she needs to get a better job?

27 © The National Foundation for Teaching Entrepreneurship (www.nfte.com)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. 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

28 © The National Foundation for Teaching Entrepreneurship (www.nfte.com)www.nfte.com Tanya got excited about more than just running her own business. her potential. She got excited about

29 Today, Tanya is a member of the Babson College class of 2011, on a $200,000 scholarship.

30 By investing in herself Tanya felt more confident and in control of her future. This is a story about the power of ownership.

31 © The National Foundation for Teaching Entrepreneurship (www.nfte.com)www.nfte.com The door to infinite possibilities was opened, changing Tanya’s life forever.

32 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. 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 Carl J. Schramm The Entrepreneurial Imperative: How America’s Economic Miracle Will Shape the World (And Change Your Life); New York: HarperCollins, 2006

33 © The National Foundation for Teaching Entrepreneurship (www.nfte.com)www.nfte.com “ 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 ”

34 © The National Foundation for Teaching Entrepreneurship (www.nfte.com)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 ”

35 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. 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.

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