MANSFIELD, Ohio — KeyBank became the main sponsors for the Young Entrepreneurs Academy Monday when they donated $5,000 to the new program.
The 30-week program aims to equip students in Richland County to launch a successful business. Richland Foundation started YEA! for the 2015-16 school year and have attracted six students from the area, said Chamber Foundation Director Bill Sharp Monday.
“It helps high school and middle school students establish real businesses,” said Sharp. “Complete with, they’re registered with the state, they have a EIN number, they have a business banking account — they’re ready to go.”
Students meet weekly with Sharp and other business owners and leaders in the community on a weekly basis for three hours at a time.
“It’s an intense process,” Sharp said.
Sharp said over one dozen community groups and businesses have invested in the YEA! program so far. The money is used for gathering resources for the young entrepreneurs through the 30-week program.
Sharp said the students will meet with 56 business owners and leaders throughout the program.
Two of the students are from Ontario High School, one from Wynford attending Pioneer Career and Technology Center, one from Mansfield Senior High School, one from Mansfield Christian and one is homeschooled.
KeyBank’s Assistant Vice President Beth Feldmeier was excited about the transaction Monday.
“It will allow us to collaborate with the schools and local businesses, which I think is pretty cool,” said Feldmeirer. “The main goal is economic development for the area and this will help retain youth in Richland County.”
Sharp agreed.
“It’s the neatest thing I’ve been a part of in the longest time. Hopefully the businesses they establish will be able to bring them back to Richland County,” said Sharp.
Although some of the business ideas are in the initial stages of development, Sharp is excited to see what unfolds.
Sharp said the Young Entrepreneurs Academy started in New York in 2004. The template for the program has spread across the country since then. According to Sharp, there are 117 programs in 38 states.
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