SHELBY – Six of the youngest entrepreneurial minds in Richland County appealed to a board of community investors on Wednesday night, hoping to get their respective businesses up and running.
A group of six representatives for local businesses heard from the members of the Young Entrepreneurs Academy at their official investors panel presentations, a culmination of approximately 20 weeks of hard work. At the end of the evening, more than $3,000 was awarded to all six participants.
This is the first year for the Young Entrepreneurs Academy (YEA) in Richland County, introduced under the umbrella of the Richland Area Chamber of Commerce as well as the Chamber’s Foundation. Bill Sharp, director of the Foundation and manager of YEA, said the program has thus far exceeded his expectations.
“It’s better than I could’ve imagined,” Sharp said. “I had no idea what to expect, but the kids are just wonderful. They’re so bright and they’re so excited. They’re committed to what they’re doing and to their businesses.”
Sharp explained that over the course of the evening, each of the six YEA participants would have five minutes to present their businesses to a panel of potential investors. Each participant has written a business plan and will request a specific amount of money. The participant will then answer three questions asked of the panelists.
“The judges then go into a separate room and deliberate – look at the presentations, judge them on presentation style, business ideas, business plans, and decide how much money they’re going to award each person, if they’re going to award any,” Sharp said. “They also have the opportunity to make an in-kind contribution to the business, and provide contacts that would be good for them to know in the community.”
A total of $3,475 was awarded to the businesses at the end of the night. While the participants did not receive cash, they will be reimbursed for their purchases.
The breakdown for businesses is as follows: My Charitable Community $700, A to Z Lawncare $800, PolaBear $275 (the full amount requested), HoloPlayz $700, Albatross Athletics $600, and Chameleon Developing $400.
Though the future of their businesses hung in the balance, the YEA participants were calm heading into the investor panel on Wednesday evening.
“The nerves stopped as soon as I go there and started to meet everyone,” said James Sorensen, a 17-year-old junior from Ontario. “We’ve rehearsed and we’ve been practicing for so long, we’re all ready to knock this out of the park.”
Sorensen is the founder of My Charitable Community, an online service dedicated to helping nonprofits receive the donations they truly need from individuals and businesses in the community. The idea came from seeing his mother, an employee of OhioHealth, search for a way to donate the hospital’s pillows, pillowcases and sheets after switching linen services.
“They were calling and trying to find different nonprofits that could use them, and having a really hard time locating and finding what their needs were, so they didn’t get to donate everything they wanted to,” Sorensen said. “I thought, wouldn’t it be cool to go on a website and see the list of needs for each nonprofit in your community.”
Sorensen said his biggest takeaway from YEA thus far was the time commitment both inside YEA classes and outside. His classmate, 14-year-old Logan Stewart, agreed.
“Also, one of the biggest things is saying thank you and being polite,” Stewart added. “That’s been a big thing that’s portrayed throughout this experience.”
Stewart is the CEO of HoloPlayz, a tabletop arcade machine that brings retro gaming to the future. The prototype he built simulates a holographic display for gaming instead of a regular screen.
“I’ve always been into engineering, programming and gaming, so I decided to bring them all together,” Stewart said.
As for the investors, many agreed they would be keeping an open mind and were excited to hear the YEA pitches. John Brown, president and CEO of Richland Bank, said he was very interested to see what the students had come up with.
“I’m excited to hear what they’ve come up with and we’ll make some decisions on how to help them and hopefully fund them,” Brown said. “My expectations are high but we also need to remember they haven’t had some of the life experiences other entrepreneurs have had. But man, they have a great start.”
Dan DeVille, area manager of FirstEnergy, added his first impression of the students was that they were incredibly well-prepared. He also expressed a bit of jealousy.
“Think how great it would’ve been to have had this opportunity when we were their age,” DeVille said. “These folks we’re going to hear tonight are our future. They’re going to give us a glimpse into what their generation is going to bring to our community. That’s exciting.”
