Student Grants for New Age Entrepreneurs

Below is a guest post from Avky Inc co-founder Aleksandr Vasser on obtaining student grants for entrepreneurial purposes.

Many young entrepreneurs recognize that high school and college years are the best times to launch a business. They are surrounded by resources such as teachers, professors and other school-affiliated mentors.

They have access to the knowledge of these mentors, as well as a wealth of information inside their school libraries. In most areas, local businesses and organizations recognize the talent in young entrepreneurs, and offer funding to students who exhibit promise and present feasible business ideas. With the help of this funding, it is possible for students to launch a business before they even receive a diploma. This is possible even more in this age of technology, where online commerce is so readily accessible.

Licensing Executive Society Foundation

In an annual competition held by the Foundation of the Licensing Executives Society, students compete for a grant of $10,000. To enter, students must first show judges that they understand why intellectual property is an important component in a business strategy.

Throughout the competition, competitors network with the members of the foundation and learn essential business strategies. Judges assess each student’s submission of a business outline that must emphasize intellectual property. Before the final ceremony, a select few competitors travel to London for a convention hosted by the foundation.

Edson Student Entrepreneur Initiative

Arizona State University offers local students funding for businesses through the Edson Student Entrepreneur Initiative. The University awards grant money ranging from $5,000 to $20,000 to ten or fifteen teams of young entrepreneurs.

These teams consist of up to five members and are headed by a student currently enrolled in college or graduate school. Although non-University students can be on a team, they cannot be the leader. Ideally, each member should have a different major. Each team must already run a business. Judges decide the winner after listening to presentations from each group.

Green Bay Youth Entrepreneur Grants

Young entrepreneurs in the Green Bay, Wisconsin area can take advantage of grants provided by the Green Bay Area Chamber of Commerce. The Chamber provides grants up to $500 to middle or high school students that wish to run a business over summer break. Students must live in close vicinity to the Green Bay area.

In order to apply for a grant, students must compose a business proposal. Local organizations such as the Small Business Council offer help to these applicants. The Commerce offers grants to students who attend any of the ten school districts within the Green Bay region. Students must submit their applications in time for the April deadline.

Global Student Entrepreneur

Available to students internationally, The Global Student Entrepreneur Awards distributes grants to young entrepreneurs in university, college or high school. In order to be eligible, a student must already run a profitable business that has brought in a return on investment for six months in a row. Judges base their decisions on the strengths of each student. Ideal candidates show leadership skills, innovation and strong character. Awards go out throughout the year, and vary in amount.

Five Characteristics of Successful Entrepreneurs: Utilizing Discipline and Proper Communication Creates Success

It’s just not the ordinary person can make themselves a successful entrepreneur. It takes a disciplined person to be able to properly communicate their idea behind a business, product or service and then administer that idea through a fleet of employees and then present the item to a consumer who is willing to make the purchase or investment. There are a few characteristics that every successful entrepreneur must be aware of in order to make money and promote their brand and name. Here are the five characteristics of successful entrepreneurs.

  1. Have an open line of communication among a team of employees, investors, consumers and anyone else who is involved in the running on one’s business. Just because a person may have a great idea for a product or service, it doesn’t mean they can hire an outside person to perform their duties. The owner of a business is the face behind the brand and it’s important for the entrepreneur to be able to talk about the item, market the brand, provide a call to action for consumer’s to make a purchase and speak to potential investors in order to improve the capital of the company.
  2. Have an open mind when it comes to other people’s ideas. Many other resources and people will come into the business in order to improve sales and selling tactics. Look into creating partnerships with those who have an expertise in marketing, public relations and investments in order to see the business grow. While the entrepreneur may have a healthy background in the product or service they run, there are many other people with different educational backgrounds who can also assist.
  3. Be able to properly identify a staff of employees who can properly carry out responsibilities of the business. It’s a vital characteristic to be able to identify a type of person that can handle their job title and follow through with all of their responsibilities. While many employees can talk the talk, it takes a successful entrepreneur to decide who can walk the walk, so to speak. Successful mompreneurs pay attention to cues and how a person acts so that it can be properly determined if they can uphold their job position.
  4. Be completely knowledgeable about the industry the business operates in. It’s important to be well adverse in every spectrum of the business and to remain in the forefront of current trends in the market. For example, if an entrepreneur is the owner of a successful restaurant, it is important to attend food expos or read up on what tastes and trends are entering the food business. Becoming knowledgeable on every spectrum of the business can also inspire the entrepreneur to be inventive and make additions to the product or service they hold.

5. It’s important to listen to what consumers have to say about the product or service and take into account any criticism. Not only will the consumers create revenue within the business, but they are also important when it comes to making improvements or revisions to the business. Listen to critique and imagine ways for improvement.