YOUNGSTOWN – Entrepreneurs ranging in age from 9 to 17 will compose the first cohort of the Youngstown Business Incubator’s new Launchpad initiative when it begins March 16.
The program will kick off with virtual classes, then shift to in-person instruction in April, says Stephanie Gilchrist, director of YBI’s women and youth entrepreneurship programs. All but one of the 25 participants are from Mahoning County, with the 25th being from Trumbull County.
The 15-week course will cover topics including the entrepreneurial mindset, entrepreneurial skill set, marketing research, legal and finance issues, inventions, business models and the pitch.
Such an initiative might have put Housel-Mendez, who formerly served as YBI’s director of program management, on a different path, had it been available when she was young, she says.
“I come from a line of entrepreneurs.So I had the mindset from a young age. A program that could have helped me turn my napkin sketch into a real business could have been life changing,” she says.
While a few participants are trying to discover their niche, several already have ideas for businesses, Gilchrist says. One is interested in creating jewelry. Another is interested in cooking and wants to have her own food truck. Other participants include a young gamer who wants to start a membership-based gaming lounge and an entrepreneur who wants to create athletic wear.
Launchpad is critical for showing participants that they can turn their ideas into a functioning business and create ownership, wealth and economic impact if they do the research, create relationships and put in the work, Housel-Mendez says.
“The entrepreneurial mindset and critical skills go far beyond just starting a business. So at the foundational level, it’s really important for us to instill these things in our youth – whether they start a business or not,” she says.
Gilchrist is formulating plans for future cohorts and programming beyond the 15-week course.
Based on feedback she has received from schools, churches and other youth organizations, she is looking at a community-based summer program, featuring pop-up entrepreneurship programming. During spring break this year, the program will host a competition involving internet domain names that are being donated to YBI.
“Kids are going to have to create a business around those names and pitch it to us and the community,” she says.
Gilchrist also is working on securing a scholarship that could be used for the winning business or toward that entrepreneur’s education.
Housel-Mendez, who serves as advisory to Launchpad, is consulting with Gilchrist and Tanisha Wheeler, YBI’s director of curriculum, on the next phase for the program.
“Entrepreneurship isn’t for everyone,” Housel-Mendez says. “Just because you love baking, doesn’t mean you’ll be great at owning a bakery. This program takes youth with real ideas and provides real resources to help them through the launch phase.”
Pictured: Stephanie Gilchrist, director, women and youth entrepreneurship program, Youngstown Business Incubator.