Youth CITIES Frequently Asked Questions
What is a social entrepreneur?
A social entrepreneur is someone who uses entrepreneurial principles to create a venture to make social change. The success of the social venture is measured both by the impact it is making on society as well as its self-sustainability.
Why is self-sustainability important? Have you ever seen great charitable programs get dropped because of funding cuts? Have you ever seen charitable organizations spend most of their precious time struggling to raise funds, instead of spending time fulfilling their mission? A venture started by a social entrepreneur will be able to self-sustain and "take care of itself;" you can only take care of someone else if you're strong enough to take care of yourself.
Although social entrepreneurs are often non-profit organizations, this need not be incompatible with making a profit. Social enterprises are for "more-than-profit," combining a revenue-generating business with social value generation.
What are the benefits of participating in Youth CITIES?
This bootcamp curriculum includes instruction on the nuts and bolts of starting/running a business. Even though it is taught in the context of social-value generation, the principles are applicable in a variety of future settings the youth will encounter, whether working inside a large corporation, small business, or nonprofit, regardless of their field of study.
Youth CITIES offers a unique opportunity to network with folks who are top in their field. Students will gain confidence when interacting with them, learn essential communication skills, and get a sense of the hard work required to stand out among other competing ideas.
It takes a variety of personalities and skill sets to make change happen. Not everyone has to be the "groundsmaker" to make a difference. Throughout the program, students will have a chance for self-discovery as they realize the types of roles they gravitate towards within their teams. One may discover they get a thrill from negotiating deals, or love number-crunching and what-if scenarios, or realize they are able to sell ice to an Eskimo. Being exposed to the Youth CITIES environment brings an early start towards career development.
This program also brings to light that we are not living in an insular environment. The world is interconnected, and our actions (or lack of) affect others. This is a lesson that will last a lifetime. In addition, students will have a chance to unleash their creativity, and recognize how important their classes in school are (eg math and writing are critical to success in the real world).
And statistically speaking, the Gallup Organization has found that:
- 69% of high school students said that they wanted to start their own business
- 73% of the students said that independence was their primary motivation for wanting to start a business (and not monetary benefits).
- 68% of the students said that it was very important for successful entrepreneurs or business owners to give something, in addition to providing employment, back to the community
Supporting research: Gallup Organization, Inc. & National Center for Research in Economic Education. (1994). Entrepreneurship and Small Business in the United States: A Survey Report on the Views of the General Public, High School Students, and Small Business Owners and Managers. (Available from the Center for Entrepreneurial Leadership, Inc., Ewing Marion Kauffman Foundation, Kansas City, MO.)
Where will the classes be held?
All program events and classes will be held at MIT. lasses start Saturday September 19th, and run every Saturday from 9am to noon. The final Saturday for the program is on November 21st from 10am to 1pm, which is the final presentations, luncheon and awards ceremony. Room numbers TBD.
Who are the instructors, judges, and mentors for Youth CITIES?
We have an amazing combination of academia and practitioners who will be interacting, mentoring, instructing, and networking with the students who participate in Youth CITIES. Practitioners are executives from social ventures, venture capitalists and social venture funders, bankers, and corporate executives active in their community. To see the names and biographies, please view the Team Bio page.
How much does this program cost and how does registration work?
If you register by August 92th, tuition is only $395. After August 19th, the cost of the program is $495. Registration deadline is September 9th, 2009. Students are considered registered (and therefore have a slot reserved) when both the completed registration form is submitted, and the tuition check is received.
If you need financial assistance, please indicate that in the registration form. The Program Director will contact you to discuss scholarship options.