CREATEEmpowering the Next Generation of Entrepreneurs
At NextGen Financial Empowerment Organization, our mission is to empower multicultural youth through dynamic entrepreneurship and financial literacy programs. We are dedicated to cultivating the next generation of leaders and innovators by equipping them with the knowledge, tools, and confidence to achieve economic independence and business success.
What is the primary issue area that your application will impact?
Youth economic advancement
In which areas of Los Angeles will you be directly working?
County of Los Angeles (select only if your project has a countywide benefit)
In what stage of innovation is this project, program, or initiative?
Pilot or new project, program, or initiative (testing or implementing a new idea)
What is your understanding of the issue that you are seeking to address?
Provide youth with financial education and entrepreneurial opportunities. Youth who reside in underprivileged areas often lack the financial literacy to be successful in life. They do not have the proper mentorship, knowledge or resources to succeed, and they lack the education to become financially independent. Many times they would like to start their own business, but do not know where to start. Knowing how to properly execute a business plan is crucial in building a successful business. Oftentimes, youth in underprivileged areas will fail because they lack the education, resources and mentorship to be successful. NextGen wants to change that, and provide the resources to these youth so they can be successful.
Describe the project, program, or initiative this grant will support to address the issue.
We are creating a program that will provide these underprivileged youth with the resources, knowledge and mentorship needed to be successful. Many times, these resources are not accessible because youth do not know where to begin in their process. We want to change that for them. We want to provide them with the education, resources and even mentorship to help them succeed in life. In the eight week program we are developing, we will provide all of this to them. Showing them how to create a business plan and how to execute it as well. As well as teaching them the right mindset of entrepreneurship, so they can be prepared for obstacles that they may encounter.
Describe how Los Angeles County will be different if your work is successful.
Our vision is to foster a thriving community where diverse young entrepreneurs can grow, create opportunities, and contribute to a more equitable and prosperous future. We want to provide financial literacy to the youth in the underprivileged areas, so the next generation can be successful. We want to break the generational cycles of poverty, and provide these youth with the opportunities to do just that. If our work is successful we will be contributing to breaking this cycle by preparing the next generation of youth to make smarter financial decisions. To increase their confidence in managing their personal, and to learn key leadership and entrepreneurial skills.
Approximately how many people will be impacted by this project, program, or initiative?
Direct Impact: 30
Indirect Impact: 100