SEAN “DIDDY” COMBS DONATES $250K TO NETWORK FOR TEACHING ENTREPRENEURSHIP (NFTE)
Can entrepreneurship be taught? Maybe a better question is: What are the benefits of teaching it in an academic setting? Earlier this month, the Network for Teaching Entrepreneurship (NFTE) released survey results showing that students who completed its programs—mostly inner-city students in middle schools and high schools—were more likely to graduate from high school or earn college degrees in science, technology, engineering, or math.
More than 500,000 students have completed NFTE courses since Steve Mariottifounded the nonprofit in 1987. Last night, the organization crowned the winners of its annual youth entrepreneurship contest. Jesus Fernandez and Toheeb Okenla, 17-year-olds from South Holland, Ill., took the $25,000 first prize for their business, which designs socks with pockets sewn in for soccer shin guards. NFTE also announced a $1.2 million grant from Mastercard (MA) and $250,000 from Bad Boy Entertainment founder Sean “Diddy” Combs to continue its efforts.
In addition to teaching business skills, NFTE is good at convincing inner-city kids that their street smarts can be applied in the classroom, Combs told…
READ MORE: http://www.businessweek.com/articles/2013-10-04/diddy-on-nfte-high-school-entrepreneurs-and-the-shutdown