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K-12 Technology
volunteersuitup.com

Aug 16, 2021 2021-08-16

Funding & Recognition

Nonprofit Introducing Students to Business Challenges

The nonprofit SuitUp is partnering with school districts and businesses to help students experience real-life business challenges and interact with entrepreneurs and business executives. The organization is hosting virtual business challenges for students, in which they work in teams to address an issue and create a video pitching their ideas. The competitions, which can be as short as 90 minutes or as long as several days, include three to five teams of five to eight students between the ages of 10 and 18, who participate free of charge, and two or more corporate executive volunteers whose companies pay SuitUp a fee to participate. The teams all receive the same business challenge and are tasked with developing a product or service to solve that challenge. After meeting for about two hours over the course of two days to develop their ideas, the teams each record a three- to five-minute video pitch of their business idea. Examples of pitched ideas from a recent challenge include a solar-powered water bottle, a marketplace for new and used shoes, and a gym and spa that also include a fitness rehabilitation center. The competition benefits students not only by exposing them to practical entrepreneurial exercises but also by giving them the opportunity to receive immediate coaching from executive volunteers. As an extra perk, the winning team receives a cash prize.

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