The Idea
Kids Helping Schools developed a program with Philadelphia Youth Basketball to create the Magic Academy, an entrepreneurship program aimed at underserved high school students. The program is based on PYB’s mission to create opportunities for young people to self-determine and to aspire to become the architects of their future in positive and purposeful ways.
The entrepreneurship initiative is designed to help fuel young people’s self-determination by specifically inspiring youth to break down traditional barriers, think creatively, and find innovative solutions for their community and the broader marketplace. Through accelerating the skills acquisition of aspiring youth entrepreneurs, this program seeks to expand economic pathways and advance entrepreneurial efforts through training and mentorship that supports the innovations of PYB’s emerging entrepreneurs.
This pilot will provide a unique opportunity for youth to learn about entrepreneurship while putting their ideas into action and will become a powerful pathway for young people to learn on their pursuit of self-determination.
What They Received
KHS raised $40,000 to get the program developed, with the hope that it will be able to be self sustaining going forward. KHS also worked with PYB to develop the program. Charlie Aschkenasy will be participating in the program on a regular basis, and will bring other young entrepreneurs to assist in the process as well.
The Program
Total Participants = +/- 20 Entrepreneurs (5-6 groups of individuals and/or teams)
Schedule:
October 3rd – December 15th
Time: TBD – After School Hours
(2) Days: Monday or Tuesday – Wednesday or Thursday
Program Length:
10 Weeks – October 3rd – December 8th
20 Classes – 2/week at 2 hours each
3 phase program – (1) Ideate (2) Formulate (3) Compete
Entrepreneurs Learn…
Entrepreneurship 101
Financial Literacy 101
How to Pitch an Investor
Historical Black Entrepreneurial Figures
Basketball Industry related Entrepreneurship
Then Compete for Investment Money
Final Four Submission = Business Plan + Strategy (Nov. 25)
Shark Tank Finale = Live Pitch Deck Competition (Dec. 13-15)
Investment = $10k
Remaining Business’s = $2.5k (Total)
