MANSFIELD — Angie Fanello, marketing and communications coordinator of the Richland Area Chamber & Economic Development, had no idea what her teenage daughters were going to say at a 2019 business idea pitch.
She worried they might be underprepared after watching other Young Entrepreneurs Academy students present to professionals and receive funding for start-up ideas. But when Caitlin and Corrine Fanello took center stage at the Kehoe Center, Angie Fanello said she was impressed with how polished their presentation was.
“Since they did a majority of their work in class, I didn’t really see what they were working on,” she said. “When they got up there, they just nailed it.”
Fanello’s daughters are now in college and decided not to continue their business idea after YEA ended, but Fanello said YEA sparked interest from scholarship interviewers and was a resume-builder on her daughters’ college applications.
Jodie Perry, chief operating officer of the Richland Area Chamber & Economic Development, has led the local YEA program since 2015.
Perry’s hometown is Rochester, New York — where YEA started in 2004. YEA now has nearly two dozen chapter locations across the country.
The national YEA website states each curriculum gives students the opportunity to learn from local business owners, write business plans, learn about taxes and pitch their business to possible investors. Participants can also compete for scholarships and prizes at the national Saunders Scholars Competition.
“Whether you ultimately want to own your own business or not, all the skills that you’re going to learn are directly transferable to adulthood,” Perry said.
The local YEA investor pitch session, scheduled toward the end of the YEA program, gives students the opportunity to present their business idea to leadership in local companies for startup money.
Perry said she encourages students to think about the amount of money they just need to start their businesses. Previous participants have asked for anywhere between $200 and $2,000, she said. Last year, Perry estimated each participant received an average of $700 in investment offers.
In its seven years in Richland County, more than 50 students have graduated from YEA. Perry said students can choose to continue their business after the program ends or give their investment money back to the Chamber to use for the next year’s participants.
This year’s program is scheduled to start Nov. 8 with the investment panel on April 24, 2023. Each Tuesday, students will meet at the Richland Area Chamber at 55 N. Mulberry St. from 4 to 7 p.m. The application deadline is Oct. 31.
The program is typically divided into three parts across a series of weeks — developing an idea, refining the pitch and making a business plan for the investor panel. The program is about 25 weeks in total, Perry said, with weeks off for school’s winter and spring breaks.
Because the program is open to everyone grades 7 to 12 in Richland County, Perry said she hopes participants make friends and benefit from mentorship by local business owners.
“A lot of times, we don’t talk about entrepreneurship as a path forward. They say enlist, enroll, employ after high school,” Perry said. “I think the fourth ‘E’ is really entrepreneurship because you can carve your own path.”
Angie Cirone, incoming Mansfield-Richland Area Educational Foundation director, will lead YEA this year. Perry said she knows Cirone will be able to dedicate more time to the program than she was able to.
“I’m really excited to have her on board to be able to focus on this more fully — that’s definitely what we’ve been missing,” Perry said. “I’m hoping that she can help us connect with the students and really grow it.”
Cirone will teach some YEA modules and bring in guest speakers throughout the program.
“This county’s professionals are willing to give advice and willing to coach, they just need to be asked and then they’re there,” Cirone said.
Each student who enrolls in the program will be matched with a professional mentor based on the student’s business idea. Cirone said the program will operate best when more students sign up for the program so they can learn from each other.
“I’d like the students to be able to learn how to start their business from an idea, getting the funding and launching their business,” she said. “YEA is going to cover all of those things and provide a lot of 1-on-1 coaching.”
Cirone said she is looking forward to meeting YEA students and helping them achieve their goals and grow their business ideas. She said she wants the program to be an encouraging place that offers feedback and skills development.
YEA costs $300 per student, but scholarships and installment plans are available. Interested students or families can contact Jodie Perry at jperry@richlandareachamber.com or Angie Fanello at afanello@richlandareachamber.com.
The application requires a short student essay, recommendation letter from a teacher or coach, parental permission and an academic transcript.
The Richland Area Chamber is hosting its last information night Oct. 19 from 6 to 7 p.m. at 55 N. Mulberry St. — before the YEA program begins. Interested students and families can register online or show up at the door.
