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For the United States to survive and continue its economic and political leadership in the world, we must see entrepreneurship as our central comparative advantage. Nothing else can give us the necessary leverage to remain an economic superpower. I am calling on our nations Governors and state education chiefs to develop standards and assessments that dont simply measure whether students can fill in a bubble on a test, but whether they possess 21st century skills like problemsolving and critical thinking, entrepreneurship and creativity Not every young person wants to work for a big business so we need a systemic approach to teach them entrepreneurship
© The National Foundation for Teaching Entrepreneurship (www.nfte.com) Youth entrepreneurship education in America. TANYA’S STORY © The National Foundation for Teaching Entrepreneurship (www.nfte.com) President Barack Obama The Audacity of Hope I believe in the free market, competition, and entrepreneurship. “ ” © The National Foundation for Teaching Entrepreneurship (www.nfte.com) Young people in low-income neighborhoods want the same things we all want. © The National Foundation for Teaching Entrepreneurship (www.nfte.com) To get a good education. To earn enough money to live well. To make their family proud. © The National Foundation for Teaching Entrepreneurship (www.nfte.com) The trouble is, very few have a clear path for how to get there. Worse, they might not feel like society expects them to succeed. © The National Foundation for Teaching Entrepreneurship (www.nfte.com) The Manhattan Institute drop out of high school. 5 0 % of minority youth An estimated Did you know? © The National Foundation for Teaching Entrepreneurship (www.nfte.com) Civic Enterprises and The Bill & Melinda Gates Foundation to real-life. 8 1 % dropped out if school was more relevant said they would not have Did you know? © The National Foundation for Teaching Entrepreneurship (www.nfte.com) What if high school were more relevant in preparing youth to make it in our economy? © The National Foundation for Teaching Entrepreneurship (www.nfte.com) 1 in 5 youth live in poverty in America Did you know? © The National Foundation for Teaching Entrepreneurship (www.nfte.com) How would you define “poverty”? [...]... then re-invested $72 in thirty-six more scarves… © The National Foundation for Teaching Entrepreneurship (www.nfte.com) Something started shifting in Tanya’s brain © The National Foundation for Teaching Entrepreneurship (www.nfte.com) Tanya had worked part-time at a music store earning $140 a week She wondered if she could make even more with her business © The National Foundation for Teaching Entrepreneurship. .. National Foundation for Teaching Entrepreneurship (www.nfte.com) By investing in herself Tanya felt more confident and in control of her future This is a story about the power of ownership © The National Foundation for Teaching Entrepreneurship (www.nfte.com) The door to infinite possibilities was opened, changing Tanya’s life forever © The National Foundation for Teaching Entrepreneurship (www.nfte.com)... business so we need a systemic approach to teach them entrepreneurship NFTE has the best program in the country ” Arne Duncan United States Secretary of Education © The National Foundation for Teaching Entrepreneurship (www.nfte.com) • NFTE is a non-profit organization whose mission is to provide entrepreneurship education programs to young people from low-income communities • Since its founding in. .. invested his $50 into mutual funds © The National Foundation for Teaching Entrepreneurship (www.nfte.com) Tanya, who was in a NFTE entrepreneurship class bought a dozen ties and scarves from a NYC wholesaler and launched © The National Foundation for Teaching Entrepreneurship (www.nfte.com) a business So what was the return on each student’s $50 investment? © The National Foundation for Teaching Entrepreneurship. .. Teaching Entrepreneurship (www.nfte.com) Four high school students received $50 each as an experiment © The National Foundation for Teaching Entrepreneurship (www.nfte.com) Lena used her $50 to open a savings account © The National Foundation for Teaching Entrepreneurship (www.nfte.com) Sarah took her friends to see a movie © The National Foundation for Teaching Entrepreneurship (www.nfte.com) Maurice invested... I am calling on our nation's Governors and state education chiefs to develop standards and assessments that don't simply measure whether students can fill in a bubble on a test, but whether they possess 21st century skills like problem-solving and critical thinking, entrepreneurship and creativity ” President Barack Obama Education Speech, March 2009 © The National Foundation for Teaching Entrepreneurship. .. for Teaching Entrepreneurship (www.nfte.com) “ I always thought business was for older people, wealthier people… But now I know that I can run my own business ” Tanya, Entrepreneur © The National Foundation for Teaching Entrepreneurship (www.nfte.com) Tanya got excited about more than just running her own business She got excited about her potential © The National Foundation for Teaching Entrepreneurship. .. Entrepreneurship (www.nfte.com) Lena earned about $1 interest from her savings account © The National Foundation for Teaching Entrepreneurship (www.nfte.com) Sarah had fun at the movies, but had no money left after it © The National Foundation for Teaching Entrepreneurship (www.nfte.com) Maurice’s mutual fund investment earned $4 © The National Foundation for Teaching Entrepreneurship (www.nfte.com) Tanya sold... continue its economic and political leadership in the world, we must see entrepreneurship as our central comparative advantage Nothing else can give us the necessary leverage to remain an economic superpower ” Carl J Schramm The Entrepreneurial Imperative: How America’s Economic Miracle Will Shape the World (And Change Your Life); New York: HarperCollins, 2006 © The National Foundation for Teaching Entrepreneurship. . .In many American cities, poverty is defined as… Poverty | noun A family of four living on $21,200 a year or less Source: Federal Register, Vol 73, No 15, January 23, 2008, pp 3971–3972 © The National Foundation for Teaching Entrepreneurship (www.nfte.com) That’s just over $50 a day… …for a family of four © The National Foundation for Teaching Entrepreneurship (www.nfte.com)