6 Business Competitions That Develop Entrepreneurial Skills for Teens
6 Business Competitions That Develop Entrepreneurial Skills for Teens
Competing in various business competitions matures a teen in the entrepreneurial area and gives them an additional point during university enrollment. The activities require critical thinking, problem-solving skills, and leadership ability; in short, the student is taking action. They also provide firsthand experience in business planning, financial management, and marketing that can help students stand out on college applications. Other than this, success in these competitions serves as an example of the student’s dedication to learning and self-improvement skills, which are necessary for deserved success at university and later on.
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1. National Youth Entrepreneurship Challenge
Why Participate: Participants have the opportunity to showcase their creative abilities through the creation of business plans and to receive feedback from professionals in the industry. A further possibility is that participants will have the chance to receive guidance from seasoned business owners when they participate.
Description: High schoolers develop and pitch their business ideas to a panel of judges.
Eligibility: High schoolers who are enrolled in NFTE’s programs.
Deadline: Varies annually.
Prizes: Scholarships and mentorship opportunities.
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2. STEAM in AI Multimodal Challenge
Why Participate: Participants have the opportunity to combine their interest in business with the growing impact of artificial intelligence in order to develop solutions for a variety of problems. This opportunity is available to them.
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Description: An AI challenge where students work on problems presented and create presentations for solutions to inspire students to pursue technology.
Eligibility: Young learners in middle and high school.
Deadline: 2024 season
Prize: Up to $1,000 prize
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3.MIT Launch Club
Why Participate: MIT business leaders are available to provide participants with assistance and materials, as well as opportunities to network.
Description: High schoolers develop company ideas using MIT resources.
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Eligibility: High school students.
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Deadline: Varies by club.
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Prizes: Top teams are invited to MIT for a pitch competition.
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4. DECA Entrepreneurship Challenge
Why Participate: Developing a hands-on approach to entrepreneurship is the goal of DECA, which combines academic skills with entrepreneurial skills. Participants have the opportunity to not only earn recognition on a massive platform but also to win a number of awards.
Description: Participants create their business plans and compete with others on local, state, and national levels.
Eligibility: DECA members in high school.
Deadline: Various deadlines throughout the year.
Prizes: Scholarships, cash prizes, and national recognition.
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5. Conrad Challenge
Why Participate: Participants are able to combine their skills in entrepreneurship with their skills in interdisciplinary fields in order to identify and develop solutions to problems.
Description: Groups of high schoolers will develop and pitch a product that solves problems in areas like aerospace, energy, and cyber-technology.
Eligibility: Students aged 13-18 worldwide.
Deadline: Registration usually closes in October.
Prizes: Scholarships, grants, and opportunities for further development of projects.
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6. Diamond Challenge
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Why Participate: Throughout the entirety of the process of planning and pitching a business plan, participants have the opportunity to acquire relevant business knowledge, cultivate innovative ideas, and construct a network of supportive relationships.
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Description: High school students will submit a business plan on paper then
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Eligibility: High school students worldwide.
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Deadline: Early January.
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Prizes: Cash prizes and scholarships.
