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Long Island Young Entrepreneur Challenge Launches, Eyes Local Students

Empire Facilities Management Group and Capital One Bank sponsor the competition.

Empire Facilities Management Group and Capital One Bank are calling all Long Island young adults seeking to start their own business to take part in their first annual Long Island Young Entrepreneur Challenge.

According to CEO of Empire Facilities Management, Joseph Scaretta, the idea was created to liven the job market for young entrepreneurs.

“There's no better way to give back then to promote entrepreneurship,” said Scaretta, “which is vital in fostering economic growth and bolstering job creation in our country today.”

Eligible entrepreneurs include people between the ages of 17 years old and 22 years old from either Suffolk or Nassau County, or any student enrolled at a Long Island college or university.

The competition will be split into two tracks: the Entrepreneur Track, which includes Long Island residents and the Student Track, which includes Long Island students.

Applications will be accepted online until July 20 at 5 p.m., and will be judged upon service, demographics, originality and likelihood to succeed. Five entrants from each track will move onto the “live pitch” on August 16 at Capital One Bank’s office in Melville.

There'll be a winner from each track, who'll be awarded $10,000 as start-up funding, along with equipment and mentorship from a Capital One Bank executive.

Runner-ups will receive equipment and mentorship for added support in starting their own businesses.

For more information about the competition, there'll be public information sessions through a conference call on July 9, from 12 p.m. to 1 p.m. and on July 11, from 7 p.m. to 8 p.m.

For the official guidelines of the LI YEC, visit www.esgfm.com/guidelines.

To submit an application, visit www.esgfm.com/application

Jaguar-Guy July 06, 2012 at 04:54 PM
Young Entrepreneurs ?? Let's Tax them everyone, and don' forget to Tax that prize money too. May as well welcome them to the wonderful world of the Private Sector !!
Mr. Bob Dobalina July 06, 2012 at 05:26 PM
To All Long Island Entrepreneurs - stay far away from this. I promise you that you will be better off without the help of the same people that created Solyndra and other Green Companies like it. This operation is currently being sued in Southern NY District Court over Unfair Labor Practices. As for Capital One Bank - think about this: What has a bank ever done for me? Do not be fooled and do not let anyone take your ideas and act like they want to help you succeed. They do not. My advice to young entrepreneurs would be to trust nobody but your own instinct. There ain't no free lunch kiddies and the minute some dolt from a green company management firm wants to give you free mentorship, run like mad.
littleShamrock July 07, 2012 at 01:29 AM
Live pitch --- aka pyramid scheme? RUN RUN RUN AWAY!
Joe July 07, 2012 at 02:35 AM
These comments do not relate to anything on this topic. This is a charitable event and the postings have no validity or connection to the event.
Christian Flamman July 07, 2012 at 10:44 PM
where is the public meeting?
Jennifer Bernheim July 09, 2012 at 03:30 PM
Public information sessions will be held via conference call on the following dates: • Monday, July 9th, 2012 from 12:00 pm – 1:00 pm EST • Wednesday, July 11th, 2012 from 7:00 pm – 8:00 pm EST Please use the following conference call phone number: (218) 862-1000 and then enter the following participant access code: 783071#.

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