Fostering Entrepreneurship
Youth Entrepreneurs Kansas has graduated more than 9,000 high school students
from its program since its inception. Volunteer advisors play a key role, helping
students refine their business plans and prepare for annual competitions.
Founded in 1991 by the Charles G. Koch Charitable Foundation, Youth Entrepreneurs Kansas (YEK) has grown from an eight-week course at one Wichita high school to a year-round business elective that impacts more than 800 sophomores, juniors and seniors throughout Kansas every year. For students, the expectations are high, but the results can be life changing. "Students really respond to the class," said Kylie Stupka, YEK executive director. "The program gives them hope. Many of the students only know one way of life. They begin the class never thinking they could be in the business world, much less open their own business."
However, by the end of the school year, every student has written and presented a business plan. To help them prepare, the class offers field trips, guest speakers and simulation games. Hands-on activities include the Free Market game, where they witness the impact of trading policies on goods they're trying to sell, and the Reality game, which allows students to experience living on a salary dictated by their level of education.
Not surprisingly, the teachers also appreciate the YEK program. "The class is given outside support, both human and financial capital," said Stupka. "Not only do teachers have the YEK staff support, but we also provide volunteers to help in the classrooms."
All of this is in support of YEK's mission: To provide students with business and entrepreneurial education and experiences to help them prosper and become contributing members of society. Among the 9,000 alumni of the program, there are numerous examples of this mission, accomplished. "So many do so well. YEK opens doors," said Stupka. "We always have motivated students who are passionate. For example, three years ago, a YEK student won the national prize at the National Foundation for Teaching Entrepreneurship competition for business plans."
Transforming Lives
Others have seen their lives transformed. "We had one student who was a self-proclaimed loser," said Stupka. "He had a physical disability, low self-esteem and had never become involved in anything. He enrolled in the YEK class and realized he has talents despite his issues. At the business plan competition, he came in with confidence and blew everyone away. His dad was there."
"This student now has college visits scheduled and he's looking at what he can do in the future. It's been life changing and he attributes it to YEK," continued Stupka. "He has won venture capital funding and is working on getting his business open."
In 2007, YEK awarded $92,000 in scholarships and venture capital to students and alumni with outstanding business plans. YEK also offers summer partnerships where students work in a business for a brief time. Not surprisingly, 75% of YEK alumni say they plan to start a business. "At BizBang, one of YEK's annual fundraisers, we use a local event planner whose business plan was written when he was a YEK student," said Stupka. "While in college, he decided to go ahead and start the business, but he didn't have time to write a new plan, so he pulled out the one from YEK, took it to the bank, and received a $500,000 business loan. He's now doing lot of great things in the community, including coming back to speak to our current kids."
The success of YEK prompted the foundation of Georgia-based Youth Entrepreneurs Atlanta in 2006. YEA has grown to include programs in eight Atlanta-area schools. For more information, visit the YEK website at www.yeks.org.
Note: YEK receives funding from the Charles G. Koch Charitable Foundation.
