Young entrepreneurs woo investors
Most eighth-graders aren’t interested in taking a weekly class to learn the fundamentals of developing and running a business.
“I thought it was just another thing my mom would be nagging me about,” said Colin Carroll of Lake Zurich Middle School North. “But when I learned about the cash we could make, I got into it.”
The 13-year-old CEO saw the first fruits of his time and effort Thursday night. A panel of investors pledged $415 to start up Superstar Stickers, a sports equipment sticker business that Carroll co-founded with Lake Zurich High School freshman Sean Baldwin.
They were two of 11 students from across the county who pitched their business plans to local business leaders and asked for specific amounts of money to launch ventures ranging from fuzzy phone covers to high-end vehicle marketing.
The investor panel event was the culmination of six months of work by the students in the Young Entrepreneurs Academy, sponsored by the Lake Zurich Area Chamber of Commerce. The weekly program at Lake Zurich High School connects students from grades 6 to 12 with local business leaders to help them devise and implement their own business ideas.
Dale Perrin, executive director of the chamber, organizes the Young Entrepreneurs Academy programming, which includes guest speakers and field trips.
“It’s important to get students thinking strategically to realize what they’re capable of producing,” Perrin said.
Jamie Passaglia, a junior at Lake Zurich High, received $1,330 to start Jamie’s Organic Bakery, a website that will sell nutritious fair-trade baking ingredients. Investors chose her project to advance to the Saunders Scholars Bright Ideas national competition in Rochester, N.Y. in May. She’ll compete against 30 other YEA chapter winners for up to $30,000 in scholarships.
“I want to make a difference with my business, to help people and create some good,” Passaglia said.
Kirsten Halverson, a senior at Stevenson High School, and Monica Hoerner, a sophomore at Barrington High, garnered a $3,000 investment to start Her Place, a spa for young girls in Barrington.
“It doesn’t matter who you are, your age, or how much you know about business,” Halverson said. “It’s amazing what you can do.”
Students had mentors in the business community who helped them craft their proposals. Gary Bozza runs an executive recruitment firm in Chicago and has guided YEA students for three months.
“To see them get up there in front of 40 people and be able to speak with such poise, it’s phenomenal,” Bozza said. “It’s a skill that will take them far no matter what they do.”
The investors pledged a total of $8,906 to nine student enterprises. The Young Entrepreneurs Academy will hold a trade show in late May to display the students’ products.
Students interested in participating in next year’s program, which costs $195, can apply online at www.lakezurichareachamber.com.
Here are the other students who netted investments:
Ÿ Anmol Nigam, 12, Hawthorn Woods, EZ Reminders.
Ÿ Maggie O’Donnell, 12, Barrington, Furry Fones.
Ÿ Carmen Ramirez, 12, Deer Park, Basically Button.
Ÿ Vaidehee Shah, 15, Lake Zurich, Knots 4 You.
Ÿ J.R. Weigand, 16, Lake Zurich, DiEleganza.com.
Ÿ Sabina Yosif, 12, Palatine, Doodlez4U.