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What problem does your solution solve?
In my local community, a lot of schools were lacking an outlet for students to explore careers in business in depth. I did a lot of brainstorming and decided that I could fill this need in several ways by establishing a nonprofit. Empower to Innovate hopes to address the lack of strong business education by providing grants and scholarships to schools as well as any student looking to pursue business in the future. In addition, Empower to Innovate hopes to work closely with school administrators to implement an effective way to promote business education, either in the classroom or through extracurricular activities.
What’s the market potential for your solution?
The target market for this solution is middle school and high school students from all backgrounds who demonstrate any type of interest in a career in business. Additionally, we plan to appeal to school administrators as a means to establish an outlet for students to explore business in-depth. We plan to start small by targeting schools in the New Jersey and Philadelphia area. In the future, we hope to expand to more schools in the Northeast and even potentially working with students across the country after growing sustainably by around 5% per year.
Who are your customers?
Empower to Innovate is the blueprint for a non-profit organization. Therefore, we would not be selling a tangible good to customers. Nonetheless, we hope to "sell" the idea of a quality business education to schools across the country!
How will you reach your customers?
We plan to reach our customers through impactful social media marketing on platforms such as Twitter, Instagram, and YouTube because doing so is an effective way to reach teens who may have an interest in business. In addition, we plan to reach or customers by simply reaching out to local middle school and high schools to establish meetings with their administrators and eventually activities with their students!
How will you make money?
Like any non-profit model, Empower to Innovate will need a steady basis of income in order to grow successfully. We plan to primarily generate income through corporate sponsorships as well as a reasonable amount competition fees and membership dues! In the future, we may also begin to sell merchandise to promote the cause of business education.
What kind of partners will you need to make, support and distribute your solution?
Empower to Innovate will need to establish strong connections with the local community. First, we will have to attain partnerships with local business and corporate sponsorships in order to have the financial means necessary to reach our goals! After forming strong relationships with sponsors, we will work on forming strong and positive relationships with local school administrators and students!
What will your expenses include?
Empower to Innovate's will mainly come from scholarships and grants we give. Therefore, most of your donation or investment will be going directly to schools and students! Expenses will also be for filing important paperwork, such as Articles of Incorporation, and upkeep for a website in order to market Empower to Innovate in a positive light!
Who is your competition and how do you differ?
Our competition is essentially other organizations that promote business education, such as FBLA and DECA. We differ from our competition in a few important ways. Mainly, we differ from such organizations because we have chosen not to make them competition! Instead, we will encourage schools to form FBLA or DECA chapters if we believe they could serve as a positive and effective outlet for their students to explore the business world. Additionally, we differ from our competition because we intend to be more personable by catering to the specific and unique needs of the school and students we interact with!