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YEA students awarded Venture Capital
- Updated: May 24, 2012
Four aspiring young entrepreneurs, who participated this school year in the Young Entrepreneurs Academy (YEA) program at Newark High School, have received a total of $2,200 in venture capital to help them launch their new businesses.
Newark Wegmans, Newark Walmart, IEC Electronics Corporation in Newark and the Newark branch of Reliant Community Credit Union “invested” the $2,200 in funding in the four fledging businesses that include:
• NHS senior Emily Hinckley’s “Hinckley Design & Print,” that creates customs designs for t-shirts, business cards, logos and other promotional items and then handles printing of the items through outsourcing to allow for the design and print of virtually any medium.
• NHS senior Jeremy Hassett’s “Wolve Guitars” that produces creative, unique and professional custom finishes for musical instruments.
• NHS senior Nate Caralla’s “Home Turf Lawn Service,” a full-service lawn care provider to residential and commercial business owners at “affordable rates.”
• NHS senior Patrick Pykare’s “Pykare Sales and Services” sells goods on eBay for those who do not have the “skill, time, technology, and resources” to do so.
An investment panel April 19, comprised of three representatives from the companies that invested in the student’s businesses _ Susanne Milliman, community coordinator for Walmart; Tammra Schiller, Newark branch manager of Reliant Community Credit Union; Ron Smith, assistant manager of Wegmans and NHS principal Kevin Whitaker _ determined how the $2,200 would be distributed based on presentations made by young business owners at Newark High School and how they answered questions from the panel.
Whitaker was filling in for Brett Mancini, who is IEC vice president of customer management and was unable to attend.
The panel decided “Home Turf Lawn Service ” would receive $342; “Pykare Sales and Services” would receive $918; “Hinckley Design & Print” would receive $540; and “Wolve Guitars” would receive $400.
Additionally, the panel decided Hinckley’s “Hinckley Design & Print was the YEA overall best business and that Emily Hinckley would compete as a semi-finalist in the 2012 YEA Saunders Scholar’s Bright Idea Semi-Finals Competition at Rochester Institute of Technology early in May.
Before the selection was made, Eileen Healy, NHS Business and YEA teacher, explained that the semi-finalist the judges would select would be the individual who best exemplified the characteristics of Rochester philanthropist E. Philip Saunders. Their selection was also to be based on the student’s presentation; the merit of their idea; the likelihood of their success; their ability to answer questions; and the panel’s overall impression of the business. The winner was not to be selected based on the dollar amount the judges decided to award.
“Emily was one of 28 semi-finalists from around the country to participate and did a great job,’’ Healy said later. “But she was not one of the top five chosen to go on to the finals.’’
The intent of the now two-year-old YEA program at NHS is to take students through the process of starting and running their own real business. They’ve worked in close cooperation with local leaders of industry, community members, and educators to develop ideas and objectives, write business plans, pitch potential investors, obtain funding, register with governmental agencies, develop their brand identity and much more. Through the process, students are also taught how to run, develop and grow their business; pitfalls to avoid so the business can succeed; and the importance of networking.
At the YEA event March 19, Healy thanked: IEC, Wal-Mart, Reliant Community Credit Union and Wegmans who contributed to the investment fund.
She also said IEC not only contributed to the investment fund but also donated additional money to help support some of other YEA events this year. Healy also noted Reliant Community Credit Union had been very supportive of the YEA program.
“We could not have done it without you, “ Healy said. “Thank you all for coming to observe the hard work of our Newark students and we hope to see you all at regional YEA trade show on June 9 at the Eastview Mall from 8:30 a.m. to 1 p.m..
Healy noted that many others in the community had provided services to YEA students by being mentors, speakers or providing additional services.
For more information on the student’s businesses, contact them by e-mail at:
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