Money & Your Business

Entrepreneurs Can Overcome An Uncertain Economy

Posted: 10/11/2012

Julia Silverman and Jessica Matthews, founders of Soccket, are two of the judges set to determine the winner of the Best Buy College Innovator Fund.

(NAPSI)—Even in one of the toughest economies since the Great Depression, there is still good reason for Millennials to be optimistic about their future.

Consider this: Out of the Depression came an assortment of innovations, from the electric dry razor to the car radio, proving that even tough economic times provide an opportunity for entrepreneurs to shine.

Now, oftentimes, the days of relying solely on traditional tactics to help students land their dream jobs are gone. Instead, it may be time for students to take matters into their own hands—and start a business.

Recent examples of young people who have brought their ideas to life include:

• Lauren Berger, founder and CEO of InternQueen.com;

• Scott Goodin, Johnathon Wright, Kevin Scott and Zach Wilson from SM7;

• Jessica Matthews and Julia Silverman, creators of Soccket;

• Alex Kushleyev and Daniel Mellinger, creators of KMel Robotics;

• Jon Moeller, creator of ZeroTouch;

• Meredith Perry, founder of uBeam.

A Place for the Next Big Ideas

To help, there are companies that are encouraging innovation and providing funding for startups. For example, there’s the newly launched Best Buy College Innovator Fund. It’s a national call to action to find, mentor and advance the next big ideas in technology, sustainability, education or a related field.

How it Works

Anyone 18 years of age or older who has created a product, service or piece of software that may change the way people interact with the world can submit a two-minute video describing the innovation. Best Buy launched the Fund, which will award four cash prizes totaling $100,000 to help bring the winning ideas to life.

A select panel of judges will narrow the entries down to 10 finalists. On August 17, the finalists move on to consumer voting for a chance to win the Fan Favorite spot. Voting ends on September 7. There will be one grand prize of $50,000 cash plus mentorship opportunity with Best Buy, two $20,000 cash prizes and one $10,000 cash prize for the Fan Favorite winner.

To Apply

Videos can be submitted by visiting http://apps.facebook.com/collegeinnovatorfund.

To Learn More

For further information on the Fund and for the Official Rules, visit http://apps.facebook.com/collegeinnovatorfund. For Best Buy’s hottest deals on the must-have technology for back-to-school, visit www.bestbuy.com/studentdeals.

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