All participants add their ideas, inspired by virtual events held around the world by local organizers in each city. The city with the most ideas will receive the award for the most creative city.
Teenagers aged 15-19 years in non-formal learning programs.
Basically, enrolled participants are provided with materials/equipment (not money) to start a $100 business with a challenge to double their investment in 120 days. Additionally, coaching and training is provided on-the-go during the implementation, not before or after. This is to ensure only prescriptive insights are provided during the mentor sessions to solve actual problems as opposed to broad, sweeping solutions that may not apply. Overall, the aim of this challenge is to provide participants an opportunity to learn by doing through and not through theory.
Participatory as multiple participants can be involved at every stage of the process of the learning game.
Promotes active learning.
Promotes youth financial literacy.
Can be a magnet for partnerships among institutions exploring a similar training model.
Money for materials/equipment – This idea can be piloted for between 15 to 20 youths who are committed to starting a business. This will be between $1500 to $2000 and we would seek these funds through donations.
A team of 3 project administrators will be available. These are Youth Field Officers who will be responsible for identifying participants, providing participants with materials/equipment for their startups, and identifying mentors who can provide practical insights to participants.
A team of 3 -5 mentors will also be crucial for this. We have several graduate youths of Children International - Zambia who have had great experiences and success running their own businesses. They can and will be called upon to provide this mentorship to their peers participating in the $100 startup challenge.
Opportunity! $100 worth of materials/equipment is given to participants with the aim of doubling it money invested in 120 days (about 4 months). This idea gamifies learning about finance and entrepreneurship in practice as opposed to theory; and participants receive on-going mentorship during the implementation, not just before or after. The mentors will be youths who have experienced the same socio-economic hardship and challenges as the participants and still managed to succeed.
Zambia, specifically Chibolya, George and Kanyama communities.
Yes, project administrators and mentors will also periodically meet with the participants at regular intervals to keep track of how much each participant is making and verify records against coffers. Additionally, we can create an online monitoring tool using Alchemer for participants to provide feedback remotely during their execution.
Donor funding or adding the project as component of our programs budget and workplan.
Emily Eakes
Posted on 25/05/2022Entrepreneurs are the future :)
Kim Gampper
Posted on 24/05/2022Love this idea!