BUSINESS PLAN COMPETITIONS
2009
Young Entrepreneurs Present Their Inventive Business Plans for $25,000 in Prizes at 'American Idol' Style Competition
2008
Young Entrepreneurs Showcase Their Inventive New Products and Services, Compete for $20,000 in Prizes at Business Plan Competition
2007
Young Entrepreneurs Showcase Their Business Plans at Future Founders Competition
2006
Teenage Entrepreneurs' Pocket Socks Business Takes Top Honors at Motorola Foundation-Sponsored Citywide Business Plan Competition
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Case Study
Pocket Socks
For LaDonna Watts and Brittney Maye, now students at Illinois State University and Howard University, respectively, winning top honors at the CEC’s Citywide Business Plan Competition for their company, Pocket Socks, only served to underscore their entrepreneurial instincts and zeal. As participants in the CEC’s year-long Future Founders program at Gwendolyn Brooks College Prep, Watts and Maye had the opportunity to meet and interact with successful entrepreneurs and receive guidance as they created and planned their own venture. Specializing in handmade socks with a sewn-in pocket for people who want extra security when carrying valuables, the company was founded after market research determined a need existed. "Future Founders gave me the opportunity to learn about what it really means to own and run a business," says Watts. "More importantly, it motivated me to consider a career in entrepreneurship."
The bottom line: After Pocket Socks was identified by the CEC as one of the top business plans among those created by the 75 students participating in the program, it was entered in the citywide competition – and won.
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