In an attempt to stimulate creativity and entrepreneurial skills among students, the Center for Entrepreneurship sponsored the Idea Competition 2009 and awarded thousands of dollars† to students who presented phenomenally creative ideas. The panel of judges meticulously reviewed the 51 ideas that were submitted and unanimously awarded the first prize to the Global Youth Connection initiative. The GYC also won the Fanís Favorite award after students voted to declare it the most deserving of all ideas.
In essence, the GYC initiative proposes to establish an interface that will provide youth from across the globe with a platform to request loans from microfinance institutions for entrepreneurial purposes. The initiative aims to endeavor the collaboration of non-governmental organizations in both developed and developing countries, ardent advocates of microfinance from other universities, and the Wooster community at large. The GYC will offer entrepreneurs a way to create an online member profile and request loans from microfinance institutions to set up businesses.
The GYC will conscientiously review the logistical and financial feasibility of the proposed business propositions and grant funds to applicants accordingly. GYC hopes to allow the Wooster community to create their own lender profiles. Authors of the initiative acknowledge the presence of NGOs that provide an online platform for borrowers and lenders to come together and transact.
However, as a viable extension of the same idea, the GYC proposes to set up an online forum especially for young, adroit entrepreneurs who are likely to use their modern education and entrepreneurial flair to propose infallible business propositions.
The GYC has already established contact with microfinance institutions at the University of Pennsylvania, London School of Economics and Massachusetts Institute of Technology. The initiative distinguished itself from other profit-motivated ideas by catering to the communal needs of the global economy.
Setting up a scholarship fund for the youth is amongst the long-term goals of the GYC. Group members of this incredibly creative proposition include Matthew Miller í11, Chris Miller í11, Maaz Tasneem Khan í11, Mohammad Bilal Paracha í11,†Esther Chhakchhuak í10, Matthew McNaughton í10, Libby Parsons í10 and Shiladitya Roychaudhuri í11.
Usman Gul is a first-year at the College and can be reached for comment at UGul13@wooster.edu.
Congratulations to the GYC team. What creativity and great teamwork among you, global thinkers! Way to go – I am a strong supporter of entreprenuership among the young. I look forward to GYC really taking off and making its global impact. Good job GYC team, good job Wooster for facilitating the Idea Competition.
I have full confidence that the solutions for the world’s challenges in the economical, political, environmental and technology spheres, lie with our youths.
Congrats to the GYC for engaging in a Youth for Youth initiative and we will support your endeavours in whatever way we can.
Kudos to your creative thinking and it was a pleasure meeting with two of your members a few weeks ago.
Congratulations to the members of the Global Youth Connection. This is an amazingly brilliant initiative which immediately conveys hope and promise to people
all over the world, but in particular the young entreprenuers. Many ideas have been stymied for want of funding, and many would-be entrepreneurs remain dormant for lack of information and encouragement.
Not any more….GYC brings hope. Certainly the world must be a better place with this type of leadership.
Thanks to the brilliant young minds.