Seton Hall University, in collaboration with the Greater Newark Enterprises Corporation (GNEC), recently hosted the 2024 Summer Entrepreneurship Institute, a two-week program that brought together 30 high school students from 12 area schools. This initiative aimed to provide aspiring young entrepreneurs with intensive training, mentorship, and the opportunity to showcase their innovative business ideas in a pitch competition.
Wells Fargo, a corporate sponsor for the third consecutive year, reaffirmed its commitment to fostering small business growth and empowering the next generation of entrepreneurs by supporting the Summer Entrepreneurship Institute. Tomas Porturas, Senior Community Impact & Sustainability Specialist at Wells Fargo, expressed the company’s pride in backing the program and highlighted the students’ role in addressing societal challenges and contributing to the economic vitality of northern New Jersey.
Throughout the program, students worked collaboratively in teams to develop and refine their business concepts. The culmination of their efforts was the pitch competition, where they presented their ideas to an audience of guests who had the opportunity to invest in the most promising ventures. This hands-on experience provided students with practical learning and technical training, as noted by Elizabeth Halpin, vice dean of Continuing Education and Professional Studies at Seton Hall University.
The pitch competition awarded cash prizes to the top three teams, with amounts of $1,000, $750, and $500. Additionally, all students who completed the coursework received a Certificate of Completion to recognize their dedication and hard work. Salama, adjunct faculty and Executive Director of GNEC, emphasized the importance of early investment in youth entrepreneurship to build economically stable businesses and close the funding gap in underserved communities.
The top prizes were awarded to teams with innovative and impactful business ideas. First place and $1,000 went to Eco Architectural Developments, a home improvement company that allocates a percentage of costs to build tiny homes for the homeless. Second place and $750 were awarded to Spiral, a customizable parental control app for mobile devices. Third place went to Focus Care, an advanced device designed to help the elderly and patients with dementia manage their medications.
The success of the 2024 Summer Entrepreneurship Institute highlighted the importance of nurturing the next generation of leaders and innovators who are poised to drive positive change in their communities and beyond. The event showcased the creativity and entrepreneurial spirit of the young participants, setting the stage for the 2025 Summer Entrepreneurship Institute scheduled to run from July 7-17. This ongoing initiative continues to empower and inspire young entrepreneurs to make significant contributions to society and the economy.
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