on how to run their own businesses and being self-made bosses.
At the event, which was created by The Network for Teaching Entrepreneurship (NFTE) an organization that empowers teens through entrepreneurship education, four finalists emerged. The finalists are, Juny Nguyen, Jesus Fernandez, Dagim Girma and Toheeb Okenla.
At the end, Toheeb Okenla and Jesus Fernandez, from South Holland, Illinois, beat out 38 teen competitors with their business plan for T&J Soccer. T&J Soccer is a manufacturing and retail business that sells soccer socks with pockets sewn into them for inserts that protect players’ shins during soccer games.
In the news release, South Holland's Jesus Fernandez and Toheeb Okenia Crowned Top Young CEOs and Winners of the $25,000 Grand Prize at 2013 NFTE National Youth Entrepreneurship Challenge, issued 04-Oct-2013 by Network for Teaching Entrepreneurship over PR Newswire, we are advised by the company that "Toheeb Okenia" has been updated to "Toheeb Okenla" and that "Aaliyah Wilson" has been updated to "Aliyah Wilson" as originally issued inadvertently. The complete, corrected release follows:
Meanwhile, P.Diddy after a private coaching session with the top finalists donated $250K to the NFTE group for supporting teen’s entrepreneurs, while Toheeb Okenla and Jesus Fernandez-Ortiz were awarded $25,000 for taking the first place. So as the MasterCard Donates of $1.2 Million .
Fernandez, a 17-year-old student at Thornwood High School and Okenla, also 17 and now studying at University of Illinois at Urbana Champaign took home the $25,000 grand prize for their business, T&J Soccer, prevailing over the top 34 businesses from around the country. The prize package included a $2,500 technology suite, $2,500 of business travel, and other business services along with $10,000 in cash.
Their award winning business plan for T&J Soccer centers on a manufacturing/retail business that sells soccer socks with pockets sewn into them for inserts that protect players' shins during soccer games. Jesus and Toheeb have found that thinking like entrepreneurs has helped them by strengthening their problem solving and critical thinking skills.
As active participants in the Network for Teaching Entrepreneurship (NFTE), Jesus and Toheeb were able to hone their business plan and prepare for the competition through the entrepreneurship education programs provided by the international non-profit organization.
"I am so grateful to NFTE for helping us do what we love to do and how to make money doing it," said Toheeb Okenla.
"The National Youth Entrepreneurship Challenge has taught us to believe and we can achieve our dreams. Now we are looking forward to scaling our business and taking it to the next level," said Jesus Fernandez.
After the all-day competition, runners-up honors went to Dagim Girma from Alexandria, VA for his company, The Audible and Juny Nguyen from San Leandro, CA for his business, Neckcessories. Both runners-up won $5,000 and two round-trip tickets on Southwest Airlines.
The winner of the fourth-annual NFTE Elevator Pitch Challenge, a lead in program to the day-long event presented by E*TRADE Bank, was Aliyah Wilson of Florissant, MO who took home $2,500 in cash for her business, Cool Aid Crutch Wear. Additionally two runners-up won $500 in cash. All of the winners of this challenge were selected by online public voting.
The finalists, who are all business plan competition winners from their respective regions, were required to develop and present original business plans as part of their entrepreneurial studies at school, based on NFTE's experiential curriculum. NFTE students learn the real-world relevance of math, reading and writing to their businesses. The NFTE program provides them with tools to help them develop an entrepreneurial mindset.
Additionally, during the evening, Walt Macnee, Vice Chair of MasterCard presented NFTE with a 1.2 million dollar grant and all-star entrepreneur, Sean "Diddy" Combs presented a check to the organization for $250,000. The donations will continue to help support the organization's U.S. and global programming, which builds strong business literacy skills for youth and prepares them for successful futures.
"I was blown away by these students. Their passion for learning and desire to achieve reminded me of my early years when I made the decision to be my own boss. It is an honor for me to support NFTE and I applaud the work they do providing entrepreneurship education for these future CEOs," states Sean "Diddy" Combs. "I fully expect to see these kids sitting across from me in a board room someday very soon."
"At MasterCard, we recognize the positive impact that entrepreneurship education can have on students, their families and communities. It has the potential to put students on the path to financial inclusion and successful, productive futures," said Mr. Macnee. "We are proud to support NFTE in developing the next generation of entrepreneurs through initiatives like the National Youth Entrepreneurship Challenge.
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