The ingredient for driving a successful entrepreneurial ecosystem you never knew
Did you ever think that kids could add to your entrepreneurial ecosystem?
Let me convince you: as YTILI fellow on placement with Youth CITIES in Boston, I did not just have the chance to hear about nearly ten years’ worth of experience in setting up kids to run their own ventures but I got to meet some of them too. And you will be impressed.
Starting with teaching entrepreneurial skills as life skills
Youth CITIES (aka Youth Creating Impact Through Innovation, Entrepreneurship and Sustainability) is a non-profit founded and run by Vicky Wu Davis that teaches creative and innovative thinking to high school and middle school kids. Vicky - like myself - is a firm believer in entrepreneurship as a life skill that transforms the way kids work, live and play. She was inspired to organise the first Youth CITIES programmes when she became a mum. Today, Youth CITIES runs five programmes that seed students with an entrepreneurial mindset that turns them into the game-changing leaders of tomorrow. The network that Youth CITIES builds creates mentorships, work opportunities and spans industries.
Programmes that put kids on par with entrepreneurs open doors
A rigorous bootcamp inspires, educates and equips youth to take action and make a difference. Grants are awarded to top students and supported via CITIES Skunkworks. Skunkworks then takes those ideas to develop them into early-stage entrepreneurial ventures and brings the student-entrepreneurs together with their grown up counterparts for support, expertise, development resources, and funding for prototypes to become investment-ready. Yes, you read that right - 12-year olds get funding for ideas they developed.
Through a monthly mini-hack at Venture Cafe in Boston’s Cambridge Innovation Center, arguably the place in the U.S. with the highest density of start-ups and at the centre of Boston’s innovation square mile next to the Massachusetts Institute of Technology and not far off from Harvard University, both student-entrepreneurs and anyone else can get help to overcome problems. Based on the business model canvas, the discussion is led by the entrepreneur to get creative ideas.
To day, Youth CITIES has seen over 1,000 students go through its programmes, connected over 70 communities and has over 50 mentors on call. Let that last number sink in when you think about ecosystems...
Student stories - who are these entrepreneurial kids
Let’s look at a couple of ventures that Youth CITIES scholars have founded:
A newspaper about the local community funded by a sophomore high school student
VirtualFoot, a device a middle schooler developed that gets gamers off the couch and moving with their games, and tackles the obesity challenge; the founder was in the process of registering her idea as patent when we met
A non-profit that focusses on anti-bullying whose programme 700 students have completed and that started with $500 in seed funding
An app that through GPS is meant to help reduce car theft and which was in the process of being patented - the same kid is working on a prototype for a tool that tool that uses Google Glass to help blind and visually impaired people make their way around new and unfamiliar place
An app that helps tennis pros find court partners whose inventor has since twice deferred starting uni at an Ivy League college in favour of his business and has taken it through MassChallenge, the world’s biggest and one of the top U.S. accelerator programmes; it’s founder is now 20 with five employees
A social enterprise founded by an 11-year old that won $1500 in seed funding to help Indian and Pakistani artisans sell their goods in the U.S.
There you go. Doesn’t that sound like these kids would be a benefit to your entrepreneurial ecosystem?
But don’t just hear it from me...
…hear it from others about these kids:
‘The students involved in Youth CITIES not only get opportunities to roll up their sleeves and get their hands dirty with designing, prototyping and programming but they also dive into public speaking, make contacts through market research and try to understand who their users/customers would be. The practice and experience they get is invaluable. My HR team interviewed one of them for an intern slot, and not only did he get it as the youngest intern ever, but my recruiting manager said he thought we might be working for him some day.’
Natalya Bailey, PhD, Founder and CEO of Accion Systems
‘Having seen the presentation of a 14-year old, I saw a lot of myself in him from when I was younger. He was very engaged, eloquent and evidently knew what he was talking about. I have gone to investin his business because I truly think that he knows what he is doing and will go far.’
Andy Miller, SVP of Innovation and Product Development at AARP
In short and did you know...?
So do you agree that engagement with kids and students can be a secret addition for a successful entrepreneurial ecosystem? I dare say you will.
On parting, let me leave you with two other pieces of information:
Global youth tells us that they see successful ecosystems as one of the top three means to empower youth
Global Entrepreneurship Monitor tells us that key drivers of entrepreneurial economies are those with a deep understanding of an entrepreneurial mindset and an entrepreneurial culture (via Norris Krueger). With these kids, it surely will be.
In Vicky’s words: ‘Can 11- and 13- and 15-year-olds make a difference? Absolutely.’