Published in the April 6, 2016 edition
STUDENT entrepreneur Juan Camilo Hernandez (right) was awarded $800 in start-up capital to help launch Camilo, his own line of high-end designer handbags. A student in the Young Entrepreneurs Academy (YEA!) sponsored by the Peabody Area Chamber of Commerce, he is pictured with Kathy Boudreau of Circle Insurance, an instructor and mentor of the YEA. (Courtesy Photo)
LYNNFIELD — Juan Camilo Hernandez, a senior at Lynnfield High School, is making the transition from student to CEO. Hernandez presented his business plan for Camilo, a line of high-end designer handbags to investors on March 30.
Hernandez is a participant in the Young Entrepreneurs Academy (YEA!) offered through the Peabody Area Chamber of Commerce. YEA! guides students through the process of fulfilling their very own American dream by teaching them how to make a job, not just take a job.
The students, ranging in age from 14-18, are two-thirds of the way through the 30-week after-school program. On March 30, they faced a panel of local “investors” in an event styled after the popular Shark Tank television show. Each student presented a business plan on his or her company or social movement and the investors weighed the merit of each request, awarding a total of $4,000 in start-up capital.
Hernandez requested $800 from the investors to launch his Camilo line and they awarded him the full amount. He plans to use this start-up funding to create a website and order materials, business cards and other essential items.
The investor panel consisted of eight judges from area businesses including: Dr. Nick Sarantopoulos of the Community Credit Union; Brian McHugh of Cranney Companies; Don Fitzgerald of Energi Insurance; Mike Murray of Peabody Wealth Advisors; Phil Richard of Phil Richard Insurance; Jonathan Schwartz of Rousselot of Peabody; Bob Clattenburg of Salem Five and Megan Shea-Pereira of TD Bank.
In addition to the financial award, the judges chose one student to present his or her business plan at the Saunders Scholar National Semifinal Competition in May at the Rochester Institute of Technology.
Ashley Hurton, a senior at Peabody Veterans Memorial High School in Peabody, won this honor for her business venture, HappiWear, her own line of convertible yoga pants, from capri to full length, designed for convenience and cost savings.
At the national level, students compete for college scholarships, a fast-track application pass to apply for an appearance on ABC’s Shark Tank, and an all-expenses paid trip to attend America’s Small Business Summit in Washington, D.C., courtesy of the U.S. Chamber of Commerce.
Although it is a national program the Peabody Area Chamber of Commerce offers the only Young Entrepreneurs Academy (YEA!) in Massachusetts. The venture is made possible through the generous support of the local business community which has demonstrated its eagerness in instilling business and leadership skills to members of the country’s future workforce.
Sponsors of the 2015-16 Young Entrepreneurs Academy include: Community Credit Union, Adcco Inc., Jason Stone Injury Lawyers, Analogic, Cranney Companies, Energi, Peabody Wealth Advisors, Phil Richard Insurance, Rousselot of Peabody, Salem Five, TD Bank, Brooksby Village, Rotary Club of Peabody, Northshore Mall, Peabody Access TV, PIP Printing New England, Northshore 104.9; The Salem News, Barber Shoppe off the Square, Community Greetings and The Enterprise Center at Salem State University.
In addition, North Shore Community College donated classroom space at its Danvers campus for the program.
Now that these student entrepreneurs have each received funding for their projects the final weeks of the academy will focus on how they can most effectively launch their business.
The products and services offered by these student CEOs will be on display at the Northshore Mall on Saturday, April 30 from 9 a.m. to 1 p.m. The event is open to the general public.
Applications for 2016–17
Applications for the 2016–17 program, which begins in November, are now available. Students interested in learning more about the program can visit the chamber’s website at www.peabodychamber.com. Applications can also be downloaded from the site.
Area businesses interested in becoming involved in YEA! as a sponsor or a mentor may contact the chamber office directly at 978-531-0384.
