America's Banks Supporting Young Entrepreneurs
Submitted by: Ashoka: Innovators for the Public
Posted: Apr 29, 2013 – 05:00 PM EST
WASHINGTON, Apr. 29 /CSRwire/ - The Consumer Bankers Association (CBA) Foundation, sponsoring CBA member banks from across the country and Ashoka’s Youth Venture are pleased to announce the “Banking on Youth” competition finalists.
Banking on Youth invites young people between the ages of 13 and 20 to share their ideas for entrepreneurial ventures that are sustainable and directly benefit society. More than 200 entries were received this year and are available at www.bankingonyouth.org. The six national finalists chosen by the CBA Foundation and Ashoka’s Youth Venture are:
Each of these top entrants will receive an all-expenses-paid trip to Washington, D.C. to compete in a “pitch-off” at the Ashoka Future Forum (www.ashokafutureforum.com) on May 30, 2013. Finalists will compete for the Audience Choice Award of $5,000 and the Grand Prize of $15,000. The Pitch-off is proudly sponsored by US Bank. PNC Bank is sponsoring a “Hill Day” for the finalists to visit with their Congressional representatives. These young entrepreneurs will also have the opportunity to receive training and mentorship from Youth Venture staff.
The Competition is made possible by the generous support of CBA member banks who are committed to identifying and funding the next generation of America’s business leaders. In addition to the six finalists, 29 regional winners were selected by the program’s sponsoring banks: Bank of America (5 prizes), First Niagara Bank (5 prizes), Union Bank (4 prizes), Wells Fargo (3 prizes), Citi (3 prizes), 1st Financial Bank, (2 prizes), PNC (2 prizes), RBS Citizens Financial (2 prizes), BB&T (1 prize), IBERIABANK (1 prize), and M&T Bank (1 prize). Each regional winner will receive $1,000 in “seed-money” for their venture.
“CBA is excited to announce our second year of Banking on Youth award winners and happy to connect these promising entrepreneurs with banks who can help make their dreams a reality,” said Richard Hunt, President and CEO of the Consumer Bankers Association. “The retail banking industry’s commitment to small business lending and community investment is evident year-round and we are honored to partner with them through this program.”
“It is clear to see the difference our partner banks can make by seeding the ingenuity and initiative of these young people,” said Gretchen Zucker, Executive Director of Ashoka’s Youth Venture. “Each of these innovative ventures will touch the lives of hundreds of people, if not thousands, while equipping the youth with the changemaker skills they need for success in school, work and life.”
The Consumer Bankers Association (CBA) is the trade association for today's leaders in retail banking - banking services geared toward consumers and small businesses. The nation's largest financial institutions, as well as many regional banks, are CBA corporate members, collectively holding two-thirds of the industry's total assets. CBA’s mission is to preserve and promote the retail banking industry as it strives to fulfill the financial needs of the American consumer and small business.
Ashoka is the global association of the world’s leading social entrepreneurs and the pioneer of the social entrepreneurship movement. Ashoka has a 30-year history of finding and launching the top innovations that address the world’s needs. We believe that the greatest contribution we can make to the world is to increase dramatically the number of changemakers today and in every future generation. This is the key factor for success in every part of society, from a school to a company to an entire country. Ashoka operates in 65 countries and online at www.ashoka.org.
About Ashoka’s Youth Venture
Youth Venture is an international network of 100,000 changemakers. We inspire and support young people to be changemakers by launching and leading their own civic-minded organizations and businesses, and we help communities around the world realize their potential as communities of changemakers. YV operates in 19 countries and online at www.youthventure.org.