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