The National Council on Economic Education Teaches Students Real Life Entrepreneurial Skills

August 31, 2007, NY -- NCEE conducted its first-ever Entreprep Summer Institute with 30 high school students from across the nation. Student participants came with diverse backgrounds from New York to Texas. Funding was provided for by the Ewing Marion Kauffman Foundation.

EntrePrep, a week-long residential immersion camp in entrepreneurial business principles and practices, teaches students who have completed their sophomore or junior year in high school how to plan a business and launch companies or social ventures. Students develop their entrepreneurial ideas through discussions with guest lecturers and mentors, and adapt them to the challenges of the real-world. Students brainstorm ideas for businesses, recognize opportunities and then develop a business from one of these ideas -- including financing, marketing and sales plans -- which they will then manage throughout the institute.

This high-intensity educational camp was conducted on the campus of Hebron Academy in Maine and each student participant had the opportunity to master his or her entrepreneurial skills. The range of ideas included food and beverage products from root beer float kiosks and lemonade stands to Le Petite Gateau, a cupcake making operation. Some students turned into personal trainers and made instructional videos; others set up a Frisbee golf course. Enthusiastic young people became on-the-spot web designers, jewelry makers, bakers, photographers and real estate development permit processing experts. After the students ran their businesses, they prepared a formal presentation to review and share the experience with their fellow peers and mentors.

"The program proved to be nothing like an academic course. Instead of grades, we anxiously awaited sales and profits. Every dollar we earned or lost was a direct result of our decisions and our actions. Our success relied heavily on our ability to handle responsibility, to manage our time, to stay committed. Overall, this challenge gave each of us the insight to deal with everyday responsibilities and maintain the self-motivation of an adult," said Daniella L., a student participant.

The NCEE (www.ncee.net) is a non-profit, non-partisan organization dedicated to improving economic and financial literacy. Both directly and through its unique nationwide network of State Councils and more than 200 university-based Centers for Economic Education, NCEE's programs reach over 150,000 K-12 teachers and more than 15 million students in more than 70,000 schools each year.