Young Entrepreneurs Academy Gives Dearborn Students Chance to Launch Real Business

Dearborn area business leaders are hoping to discover the next Steve Jobs or Mark Zuckerberg by giving budding entrepreneurs the tools to learn how to launch their own business as part of the Young Entrepreneurs Academy.

The innovative, national program that guides students through the process of starting their own "real" business is being launched for the first time in Dearborn, and is a partnership between the Dearborn Area Chamber of Commerce and University of Michigan.


"We are so excited to participate in the national movement of making experiential entrepreneurship education available to youth all across our country,” said Jackie Lovejoy, president of the Dearborn Area Chamber of Commerce. “This is how, as a society and as a nation, we’re ultimately going to change the world.”

Roughly 15 students from area schools attended the YEA! information night on Sept. 12. While some schools have already nominated candidates to apply for the program, applications are being accepted on a rolling basis until Sept. 30.

To participate in the academy, interested students must fill out an application and pay the $10 application fee. Students are required to write a 300-word essay explaining why they want to be part of the academy and provide a copy of their school transcript and a letter of recommendation.

Those budding businessmen and women chosen for the academy will pay $395 and will go through the process of starting and launching a business over the course of an academic year. By the end of the class, students own and operate fully formed and functioning businesses, which may be pursued after their graduation from the program.

"This is a fantastic opportunity for students in Dearborn," said Peggy Richard, director of events at the Dearborn Area Chamber of Commerce. "We're the only chamber in Michigan to offer this program right now, and we want to inspire young talent to lead our country into the future."

As a YEA participant, students will work closely with local business leaders to cultivate and research business ideas, write a business plan, pitch their plan to a panel of investors, obtain funding, develop their brand, and participate in a trade show at the end of the year.

"One of the most interesting components of the program is the one-on-one time students will receive with CEOs and business owners who know what it takes to make a business successful," Richard said.

Demetrius Harmon, 15, of Dearborn Heights is one student who hopes to reap the rewards of the academy. The high school sophomore already operates his online business, The Golden Life Clothing, but said he does not have a concrete marketing plan.

"I'm most interested in learning how to pitch my business to investors," he said.

Demetrius comes from a background of entrepreneurs; both of his parents own and operate a trucking business and his older brother recently launched a photography business.

"A lot of people like my designs," the self-described graphic artist said. "I receive T-shirt orders from across Michigan and I'm hoping to expand on what I've already done."

Michael Suchyta, a senior at University of Detroit Jesuit High School, owns a lawn care business, and said enrolling in the Young Entrepreneurs Academy will prepare him for a college education in business.

"This program is a nice introduction to business fundamentals," he said. "I know a lot of people at my school who would love the opportunity to get their business up and running."

For more information on the Young Entrepreneurs Academy, call 313-584-6100, or e-mail prichard@dearbornareachamber.org.