District 15 student entrepreneurs face 'Shark Tank' experience

Posted April 23, 2018 11:00 pm

Daily Herald report

Samarth Chitgopekar, center, was the first-place winner at the Youth Entrepreneur Academy last week, when junior high school students pitched their business ideas to an "investor panel" of local business officials at Sundling Junior High School in Palatine. Above, Samarth is congratulated for his bulletproof vest project by Jodi Suson, left, and Steven Gaus, right, of the Palatine Area Chamber of Commerce. Daniel White/dwhite@dailyherald.com

Dist. 15 student entrepreneurs share unique ideas with panel of investors

Sixteen junior high school student entrepreneurs from Palatine Township Elementary School District 15 underwent a "Shark Tank" experience last week, asking for financial support of their business from a panel of local investors.

The event was part of the district's Young Entrepreneurs Academy (YEA!), a national program that guides young students through the process of starting a real business. The work includes developing a business plan, pitching it to an investor panel, obtaining funding, launching the venture and managing media campaigns.

E-commerce and web development, sales events, and trade shows are also part of the process.

The student entrepreneurs had five minutes to pitch their business plans to a panel of "investors" comprising six local business representatives. The panel evaluated the plans and split $6,000 donated by local businesses among the students.

Funding was based on the feasibility of the business plan and the student's presentation to the panel. Each entrepreneur received at least $100 for their business.

The top investment went to Samarth Chitgopekar, whose company, Carbon Celestial, developed a carbon fiber/Kevlar-based, wearable personal protection device. Samarth received $1,075 from the investment panel and will represent District 15 in May at the YEA! national competition in Rochester, New York.

Launched in 2004 at the University of Rochester, YEA! focuses on themes of driving innovation, viewing the world in new ways, recognizing opportunities, valuing risk taking, networking, providing solutions and creating value.

With the help of local business mentors, students learn to recognize the power of their ideas, and develop the skills necessary to turn those ideas into meaningful enterprises.

In addition to Samarth, students participating in the investor panel and their businesses included Soundarya Sivakuma, Easy Rub; Aurelien Laffont, Anyplace, Anyuse; Krish Mehta, EDUFUN Games; Devon and Dylan DeLeon, Esafe; Akhil Adusumilli, Origami Décor; Kishan Teeka, Device Trac; Olesya Urmanova, Dahlia Greetings; Siya Aparanji, The Hobbi Hut; Advitya Batta, EZ Toolz; Mokshita Nagandla, Perfect Events; Avisha Yerramilli, SmartCart; Hannah Oloro, Comfy Travel; Garv Khera, SolarThat; Shravan Arun, Safety Steps; and Yosephine Lee, You-Asis.

Above, Samarth Chitgopekar, right, was the first-place winner at the Youth Entrepreneur Academy event in Palatine for his project "Carbon Celestial," while Soundarya Sivakumar, left, finished in second for her project, "Easy Rub." At left, Youth Entrepreneur Academy investor panel member Stephen Jacobs of the Northrop Grumman Corporation spoke last week when Palatine Township Elementary District 15 students took part in a "Shark Tank" experience pitching their business ideas. Daniel White/dwhite@dailyherald.com

Local business leaders make up the investor panel that also serves as mentors for junior high school students in the Palatine area taking part in the Youth Entrepreneur Academy. Daniel White/dwhite@dailyherald.com

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