Norwalk, CT - As part of their effort to cultivate entrepreneurship in young Salvadorans that will lead to new business and job creation in poor rural areas of the country, TechnoServe and the National Foundation for Teaching Entrepreneurship (NFTE) are hosting a business plan competition for university and technical school students aged 17-25. The 1,355 participating students have all been taught by teachers who were trained by TechnoServe and NFTE and who are using the NFTE curriculum in their classrooms.

The Salvadoran students participating in TechnoServe's and NFTE's "2003 Youth Entrepreneurship Initiative Business Plan Competition" all come from rural regions and represent seven schools: Escuela de Comunicaciones Mónica Herrera in Santa Tecla; ITCA/FEPADE in Santa Tecla, Santa Ana, Zacatecoluca and San Miguel; Universidad Don Bosco in Soyapango; and Universidad de Oriente (UNIVO) in San Miguel. The students are now working with teachers and mentors to design business plans and compete against other students in their school. On November 28, the 45 best business plans will be chosen and evaluated from December 1-3. Nine finalists will be selected to present their business plans on December 11 to a juried panel including representatives from El Salvador's business, government and non-profit sectors. Finally, three winners will be announced during a ceremony at the Hotel Radisson Plaza in San Salvador on December 11, where the grand prize winner will receive $1,000 as start-up capital; the second place winner will receive $750; and the third place winner will receive $500.

TechnoServe and NFTE's "Youth Entrepreneurship Initiative" began in El Salvador in August 2001, when they conducted a 10-day intensive BizCamp® for 30 young Salvadorans who attended on full scholarship. Since that time, TechnoServe and NFTE have conducted a second BizCamp® in El Salvador; have trained and certified 24 Salvadoran educators to use the NFTE curriculum in their classrooms; and have introduced their youth entrepreneurship initiative in Ghana and Tanzania.

TechnoServe receives funding from the U.S. Agency for International Development to support the "Youth Entrepreneurship Initiative" in El Salvador, which is matched by private donations to TechnoServe.

About TechnoServe: TechnoServe works with entrepreneurs to create businesses in rural areas of Africa and Latin America that will provide jobs and higher incomes and create economic growth in poor communities. In 35 years TechnoServe has worked in a total of 22 developing countries and currently works in El Salvador, Ghana, Honduras, Kenya, Mozambique, Nicaragua, Peru, South Africa, Tanzania and Uganda. In 2002, TechnoServe assisted 120 clients in Africa and Latin America to achieve $13.5 million in revenues; make $10 million in purchases from 33,000 rural poor people; and provide jobs for an additional 1,570 hardworking men and women. Web site: www.technoserve.org

About NFTE: NFTE's mission is to teach entrepreneurship to low-income young people so they can become economically productive members of society by improving their academic, business, technology and life skills. To date, NFTE has trained over 80,000 students and certified over 3,100 teachers in 46 states and 16 countries. NFTE impacts students' basic academic and life skills through a hands-on entrepreneurship curriculum that reinforces mathematics, reading and writing, and develops skills in critical thinking, teamwork, communication and decision-making. Web site: www.nfte.com

Youth Entrepreneurship Initiative web site (Spanish): www.joveneslideres.com

TechnoServe, Inc.

TechnoServe, Inc.

TechnoServe is leading a movement that empowers people in the developing world to build businesses that break the cycle of poverty. Growing enterprises generate jobs and other income opportunities for poor people, enabling them to improve their lives and secure a better future for their families. Since its founding in 1968, the U.S.-based nonprofit has helped to create or expand thousands of businesses, benefiting millions of people in more than 30 countries. The Financial Times has rated TechnoServe one of the top five NGOs for corporate partnerships. Charity Navigator has also awarded its highest Four Star ranking to TechnoServe.

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