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Christina Couch

Ready to be the next Donald Trump? By helping you go from classroom to boardroom, these entrepreneurial teen competitions are designed to mold you into the next major mogul. If you've got a great business idea (or if you're looking for one), check out these eight examples of how to get the capital and resources you need to make it happen.

NFTE BizCamp
Before Steven Casarez, a sophomore at Babson college (Babson Park, MA) and CEO of the Web design firm, XDesign Studios, was raking in $70,000 to $80,000 a year, he was sharpening his business skills at the National Foundation for Teaching entrepreneurship's (NFTE) summer BizCamp. "NFTE gave me a lot of help as far as with a business plan and just polishing everything," he comments. "I learned at NFTE what I'm barely learning now."

Teens ages 13-18 who attend the BizCamp get a two-week intensive introduction to the world of moneymaking. Besides giving their resumes a boost, BizCamp teaches students everything from basic accounting principles to how to get a company licensed. They'll even help you write a business plan and compete for start-up funding, with one-on-one help from corporate leaders.

For Natasha Spedalle, the 16-year-old president of BliNg-BliNg Discount Fashion Jewelry, winning NFTE's 2005 Entrepreneur of the Year teen competition not only landed her $1,000 in cold hard cash, she also won several other competitions with the help of her NFTE business plan. "Before starting my business, I never would've imagined being able to win those competitions," she says. For more information, visit www.nfte.com.

Making the Business Youth IT Challenge
If anyone knows about bling, it's P. Diddy. He also knows a little something about successful businesses, and that's why he's encouraging his teen fans to test the biz waters with the Youth IT Challenge. The high school team who develops the best technology-based business will land $15,000 in prizes -- presented by Diddy himself -- and that's not all. Beginning in January of each year, minority teens ages 14-18 who enter the contest receive 10 weeks of hands-on training from local business owners and IT professionals, as well as the chance to present their ideas to successful business professionals including the NAACP Image Award winner, Camille Winbush, and Keith Clinkscales, the former CEO of Vibe Magazine. Win or lose, every team leaves the program with a fully-developed business plan they can test out in the real world. For more info on contest rules, go to www.youthitchallenge.com.

Merrill Lynch National High School Business Plan Competition and Investing Pays Off Challenge
If you're ready for your share of $25,000 in prizes, you'd better get to work. Each January, high school teams across the country compete for a boatload of cash, as well as the once in a lifetime opportunity to strut their financial stuff in front of name-droppers like Jason Wright, senior vice president of Merrill Lynch; Iris Blanc, director of Virtual Enterprises; and New York City Schools Chancellor/BET co-host, Joel I. Klein. Local teams who want to prep for the event can enter the Investing Pays Off Challenge, which rewards the top NYC-based team with $10,000.

Global Student Entrepreneur Awards (GSEA)
Designed for "entrepreneurs who are simultaneously juggling coursework and cash flows," the GSEA teen competition pits undergrads from around the world against one another in a business battle second to none. Competitors must not only have a financially successful business in progress, but it must be one that delivers a quality product or service, can adapt to change, and makes a significant social impact.

Students first compete on the national level, then the first-place winners advance to the international level where their companies are judged by a panel of global entrepreneurs. The lucky winner takes home the top international title as well as a $10,000 check. Check out www.gsea.org for information on how to enter and how winners are selected.

Goldman Sachs Institute of Entrepreneurial Thinking National Business Plan Competition
If you're not quite ready for the global arena, don't sweat it, there are still plenty of opportunities stateside. The Goldman Sachs Institute of Entrepreneurial Thinking offers "mini MBA" courses for minority students interested in taking the business plunge. Students attend a two- or three-day camp where they learn the essentials of personal finance and social development, and then create a business plan with a healthy dose of e-mentoring from business pros. With plan in hand, students then compete on the regional level. Those who place win an all expense-paid trip to The Big Apple as well as a shot at winning the grand prize of $2,000 -- start-up money to turn their plans into reality. To get involved, contact A Better Chance at www.abetterchance.org, or call 646-346-1310.

MaggieMoo's Business Plan Contest
Forget cash. MaggieMoo's will give you a business! Savvy high school and college students who are members of the Future Business Leaders of America will get the chance to compete in this teen competition for a $10,000 college scholarship or their own MaggieMoo's ice cream franchise (worth about $30,000). The only thing standing between you and the prize is a lengthy, well-written, creative business plan that makes your toughest research paper look like child's play.

"This was not meant to be something that can be done in a day," warns Debbie Benek, MaggieMoo's senior vice president of brand marketing. "This is demanding. It would be demanding for anyone, including an adult." Rules and guidelines for the sweetest contest in America can be downloaded at www.maggiemoos.com.

Plan for the Future Competition
Calling all future CEOs: You could bank big simply by planning for your future today. Full-time high school and college students armed with a solid business plan for their future companies should submit their applications between March and May of 2007 for their shot at $1,000 in the regional competition, and the $7,500 national grand prize. To make sure your plan is in tip-top shape, you'd better start now. Entries will be judged on the viability of the business as well as its creativity. For full contest rules, check out the National Federation for Independent Businesses Youth Entrepreneur Foundation Web site at www.nfib.com/YEF.

Girls Going Places
With two self-published books, reviews in the L.A. Times and CosmoGirl, her own nonprofit agency, and a roster of speaking gigs under her belt, you'd think that Dallas Woodburn would be a shoe-in for any youth entrepreneurship award, but this financial femme fatale didn't even place the first time she applied. "I think that's a good lesson," she says. "If you don't win one year, go for it the next year if you're eligible."

Encouraging young women to go for it is exactly what the Girls Going Places award is all about. Ladies ages 12-18 who are taking steps towards financial independence and making a difference in their communities should submit an application by April, 2007. Going for it certainly paid off for Dallas, who wound up winning the $5,000 second place prize last year, which she will use to create a scholarship to send young writers to writing camp. "I was just blown away," Dallas states. "It was such an amazing experience to be recognized for something that I would be doing anyway." The Girls Going Places application can be downloaded at www.girlsgoingplaces.com.


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Dawn Papandrea is the Managing Editor of The CollegeBound Network. Learn more about finding a school that's right for you.

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