Program fosters entrepreneurship among high-school students

WASHINGTON (CNS) - This summer, a group of high school students got a the chance to make their business ideas a reality at an entrepreneurship program at Jesuit-run St. Louis University.

The 2006 Summer Academy program, hosted by the Smurfit-Stone Center for Entrepreneurship at the university's business school, was called "Jumpstart Your Independence: Learn to Be Your Own Boss." Kevin Schulte, the center's director, said 20 participants signed up for the July 24-28 program, double the number of last year's enrollment. Participants are diverse - both in their background and their hometowns, he said. One of this year's students was from Taiwan. The students form teams, and at the conclusion of the program local entrepreneurs judge their PowerPoint business plans. Each day the teams work on their individual presentations. Entrepreneurs and educators serve as consultants, mentoring the students as they learn business strategies, product development and team-building concepts. The first thing the students learn is that they must have the necessary resources to start up a business. In a telephone interview with Catholic News Service, Schulte said the philosophy of having students learn entrepreneurship while they are still young is based on what Mahatma Gandhi believed about change. "The best way to change a culture is to have (young adults) start a business," Schulte said. This year students visited a life science "business incubator" in St. Louis called the Nidus Center for Scientific Enterprise, a center that works with clients who are developing new scientific technologies. Business incubators are organizations that support the entrepreneurial process and help startups with resources and advice. At the center, students were able to see firsthand how a business plan gets developed and presented and the way new businesses are mentored. Clients from other incubators visit the students as well. Schulte said he is working with the medical and engineering schools at St. Louis University to start incubators that would interest the students. The high school entrepreneurs not only get a lot of practical advice, they can also walk away with their share of a $500 cash prize, along with a trophy and a certificate, if their presentation is deemed the best. As Schulte puts it, the program gives the students time to start up a company and gives them the chance to "go for it." This year Sarah Calhoun of Wildwood, Mo., and Joanna Gilbert of St. Louis won $250 for their new product, Motion Solutions, a sweatband worn on the wrist with a pocket to hold a small item like an ID card or set of keys. Their slogan is, "Simple solutions for people on the move." The second-place team of Brian Chao of Wildwood and Robert Obermarck of Brentwood, Mo., received $150. The third-place team of Mary Renee DuFaux of St. Louis and Alex Kersting of Affton, Mo., received $100. Hannah Barker, last year's winner, based her business plan on her interest in extreme sports. She developed a rock-climbing program and presented it to a local YMCA. Today, she and her father teach the class.

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Copyright (c) 2007 Catholic News Service/U.S. Conference of Catholic Bishops