Bronx High School of Science Students Take First Prize at Junior Achievement of New York’s Ninth Annual Business Plan Competition

On Thursday, May 26, aspiring young entrepreneurs Xinyu Lin, Neeraj Sakhrani and Matthew Chan from the Bronx High School of Science led their team and school to first place victory in the final round of Junior Achievement of New York’s Ninth Annual High School Business Plan Competition. Their idea for an event listing platform that provides New York City high school students the opportunity to discover different events and afterschool activities in the city – Nearby NY – stood out from the five other finalist team ideas centered around a theme of Arts and Entertainment.  Nearby NY is an app that connects users with one another through their profiles and creates a community to help others find and share ways to socialize.

It was a close competition, but the judges agreed that the Bronx High School of Science team had an interesting and well thought out plan for a viable business venture.  Members of the team each received a cash prize of $2,500, and a trophy for their school.

During the concluding round of an intensive three-month business education program and competition, six finalist teams presented their proposals for innovative arts and entertainment products and services to a panel of high profile business judges at the all-day event held at KKR’s offices in midtown New York.  Each team made it through the final round after rising to the top of a competitive pool of more than 125 teams (comprised of more than 600 students) following a series of knock-out preliminary rounds.

Team Song Sense’s Justine Guinaw, Nicole Kritikos and Nicole Kent of Kings Park High School in Suffolk County received $1,500 each as the second place team.  Song Sense provides individuals who are deaf or hard-of-hearing the opportunity to enjoy the atmosphere of large events such as concerts by producing wrist bands that expand the use of the senses by translating the music played into impulses.

The third place prize went to team MuZam from Commack High School, also located in Suffolk County. Students Alexis Capasso, Michelle Wolk and Giavanna Yopp impressed judges with their idea for an app that supplements and/or substitutes tour guides in museums.  Using the MuZam app, visitors of the museum can learn more about the history and background of the art in front of them.  Each team member received cash prizes of $750.

Recognizing the growing demand for high school-level business and entrepreneurship education programs that are rigorous, relevant, and applicable in the real world, JA New York developed an intensive, high stakes, business plan competition program for teens nine years ago.  Students participate in a 3-month long entrepreneurship boot-camp experience where they conceive, research and write a feasible and innovative business plan to launch and market a BIG idea.  The long-term goal of the program isn’t just to encourage students to consider entrepreneurship as a pathway to economic success, but also to encourage them to think entrepreneurially to drive innovative approaches to solving our most pressing business and social issues.

“We’re very grateful to our sponsors, judges, and business volunteers for investing the time, resources and expertise to develop and inspire the next generation of innovators and leaders of business in the New York metro area and beyond,” said Joseph Peri, President of JA New York.  “Real world entrepreneurship education for youth is crucial to developing talent and ensuring that New York remains a national and globally competitive center of business and innovation.”

The program is made possible by generous support from presenting sponsor, ICE NYSE Foundation, founding sponsor, G.C. Andersen Partners and in-kind donors, Gust and KKR.  The final round panel of VIP judges included Kristen Drapesa, Founder and CEO of Echohabitude.com, Scott Gerber, Founder and CEO of CommunityCo. and Founder of the Young Entrepreneur Council, and Scott Karnas, JA New York Board Member and Corporate Controller for KKR & Co. L.P.

Guest speakers included Gavin O’Connor, Chief Operating Officer, Investment Management Division, Goldman Sachs, and Chairman of the Board of JA New York; Scott Nuttall, Head of Global Capital and Asset Management Group for KKR & Co. L.P.; G. Chris Andersen, Founder and Partner of G.C. Andersen Partners and JA New York Board Member; and Ryan Kelly, the 14-year-old founder of Ry’s Ruffery, former Junior Achievement student, and investment recipient on the hit reality show Shark Tank.

To date, more than 7,000 students from New York City and Long Island have received valuable business and entrepreneurship education during the Business Plan Competition. More than $140,000 in cash prizes have been awarded to 100 students since the inception of the program.

For more information about the Business Plan Competition, visit: http://jany.org/programs/business-plan-competition/.

For press inquiries regarding the Business Plan Competition please contact:

Rebecca Rosenbaum
Director, Digital Marketing and Communications
Junior Achievement of New York
212-907-0027

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ABOUT JUNIOR ACHIEVEMENT OF NEW YORK

Junior Achievement of New York is the local affiliate of Junior Achievement USA, the nation’s largest organization dedicated to giving young people the knowledge and skills they need to own their economic success, plan for their future, and make smart academic and economic choices. We recruit, train, and mobilize more than 5,700 corporate and community volunteers to provide relevant, hands-on experiences that give students knowledge and skills in financial literacy, work readiness and entrepreneurship. Today, JA New York delivers more than 77,000 student experiences per year, free of charge, to more than 250 NYC, Long Island and Lower Hudson Valley public schools. Visit www.jany.org for more information.