SOURCE: National Foundation for Teaching Entrepreneurship

January 16, 2007 10:30 ET

College of Entrepreneurship to Offer Scholarships to Low-Income Students Seeking to Start Their Own Business

PHOENIX, AZ -- (MARKET WIRE) -- January 16, 2007 -- The College of Entrepreneurship at Grand Canyon University will begin offering full scholarships to low-income high school students seeking to start their own business as part of its commitment to EntrepreneurshipWeek USA, a national effort to inspire and encourage young people to consider entrepreneurship as a career choice, while helping celebrate America's unique culture of inventiveness.

The first and only fully accredited nationwide college devoted purely to the study and practice of entrepreneurship, the College of Entrepreneurship (CoE) has initially teamed with the National Foundation for Teaching Entrepreneurship (NFTE) to provide six four-year scholarships valued at $372,000 to students participating in NFTE youth entrepreneurship education programs.

The first round of scholarships will go to selected winners and runners-up of the recent Smith Barney/NFTE National Youth Entrepreneurship Challenge, a national high school entrepreneurship business plan competition. The scholarship recipients will be announced during EntrepreneurshipWeek USA, scheduled for February 24 - March 3, 2007.

In addition to the full scholarships for NFTE students, the College of Entrepreneurship announced an agreement with the Arizona Future Business Leaders of America (FBLA) to offer across-the-board scholarships of $2,500 to any FBLA graduate, plus a stipend of $500 to their FBLA teacher and a $500 donation directly to the local FBLA chapter, for every student matriculating to the College of Entrepreneurship.

"EntrepreneurshipWeek USA is a long overdue celebration of the foundation and fabric of our country. It is a celebration of creativity, ingenuity, innovation, resourcefulness, and the endless possibilities we all possess. I am honored and excited to support an initiative that encourages and promotes these ideals through this scholarship program," said Michael Gerber, Chairman of the College of Entrepreneurship and founder of E-Myth Worldwide, a privately held online business education provider, and author of the best-selling "The E-Myth: Why Most Small Businesses Don't Work and What To Do About It." "Our vision is to offer partial and additional full scholarships to any number of NFTE graduates, creating an ongoing 'pipeline' of students from largely low-income communities who want to start their own business," added Gerber.

NFTE's entrepreneurship education program teaches students in low-income communities the business skills to start their own small business, while reinforcing academic and life skills. NFTE's goal is to give young people the skills and confidence to unlock their true potential, so they can improve their lives and their communities. Since its founding in1987, NFTE has reached over 150,000 students in 28 states in 13 countries.

With the theme "What's Your Big Idea? Take it On!" the EntrepreneurshipWeek USA initiative is designed to serve as an inspiration for young people to think creatively and to turn their ideas into action -- whether that means starting a new business, developing an innovation for an existing company or solving a problem that makes society better. Official events are being planned in cities across the country, culminating in Washington, D.C., where the focus will be on the importance of policy to the nation's entrepreneurs.

EntrepreneurshipWeek USA is sponsored by the Ewing Marion Kauffman Foundation and by government, not-for-profit organizations and businesses, including The New York Times and Inc. magazine. Additionally, the House of Representatives noted the importance of entrepreneurship education by enacting a Resolution in support of a national entrepreneurship week.

For more information on events and activities across the country as well as how to engage young people to get involved in EntrepreneurshipWeek USA, please visit: www.EntrepreneurshipWeekUSA.com.

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