Seed money helps local youth business grow

Seed money helps local youth business grow

Kids investor pitches pay off at investor panel

A Churchville-Chili High School student experienced something that most people don't get to experience in a lifetime, and she did so before finishing high school - the opportunity to "pitch" her own start-up business concept and gain real seed funding.

Laura Serio, a freshman, is a participant in the Young Entrepreneurs Academy (YEA!). Serio pitched her business plan to a panel of 13 investors in front of an audience of about 200 at the University of Rochester Interfaith Chapel, and was awarded start-up capital to help launch her new partnership at the second annual University of Rochester's Investor Panel presentation event.

Serio gave a presentation as she pitched to the business professionals who invested not only money, but also their professional advice and time. Serio's business acquired $455 from a group of established business professionals who made up the investor panel.

Each member of the panel agreed to invest $800. The funds were awarded at the discretion of each investor to the businesses that had a well thought out plan and an idea that had a good chance at success.

Serio started a partnership, Rochester Teens in the Know, with three other students: Sowmya Sanapala, eighth grader at Twelve Corners Middle School; Jeff Rizzo, junior at LeRoy Junior Senior High School; and Jennifer Burke, junior at Pittsford-Sutherland High School. Rochester Teens in the Know is a website for teenagers in the Rochester area, which contains content intended to inform teenagers about the world around them. The average rate of advertising space is $50 a month.

This is the second year of operations for YEA!, a year long program for entrepreneurially-minded middle and high school students who are interested in starting and running their own businesses or non-profits. YEA! is just one of a series of initiatives being developed and offered at the University of Rochester with the support of a grant from the Ewing Marion Kauffman Foundation.

Students will work to launch their businesses and social movements, then begin marketing and selling their products and services. The students will prepare for the trade show event, which is an opportunity to showcase their goods and service offerings to the general public. The trade show will be held on Thursday, May 18 from 5 to 7 p.m. in the May Room at the University of Rochester. This is free and open to the public.

Applications for the September 2006 class are being accepted and are available at www.rochester.edu/osp or 585-275-2344 UR Office of Special Programs.