Meng Introduces Legislation to Help Young People Become Next Generation of Entrepreneurs

WASHINGTON, D.C. – Following Global Entrepreneurship Week, U.S. Rep. Grace Meng (D-NY) announced today that she has introduced the 21^st Century Youth Entrepreneurship Act, a bill that seeks to expand entrepreneurship programs in public schools (grades K-12), community colleges, libraries, and other community spaces to equip young people with the tools necessary to become the next generation of entrepreneurs and innovators.

"Entrepreneurship kindles the spark of creativity and ingenuity that has been such a cornerstone of our economy," said Congresswoman Meng. "And that is why, nurturing and inspiring our young people to be leaders and entrepreneurs will be critical to the future prosperity of our country. I am proud to introduce this legislation to empower our youth by including entrepreneurship programs into our K-12 public schools, community colleges, and public spaces like libraries. It is never too early to learn the skills of creative problem solving, leadership, teamwork, financial literacy, and adaptability—which are all necessary skills for the 21^st century workforce. In fact, 40 percent of American middle and high school students say they plan to start a business. Entrepreneurs are the backbone of Queens and the nation—they drive innovation, job creation, and economic growth. Throughout my time in Congress, I have fought to help small businesses and entrepreneurs flourish. I am proud to introduce this legislation—especially following Global Entrepreneurship Week 2019—to help create a pathway for aspiring entrepreneurs to grow and thrive."

Specifically, the 21^st Century Youth Entrepreneurship Act would:

Meng's legislation is endorsed by the Queens Economic Development Corporation, National Foundation for Teaching Entrepreneurship, Lemonade Day, Association of Women's Business Centers, Women's Entrepreneurship Day Organization, Junior Achievement of New York, Asian/Pacific Islander American Chamber of Commerce and Entrepreneurship, Network for Teaching Entrepreneurship, State University of New York (SUNY) Student Assembly, Graduate Student Assembly at Carnegie Mellon University, and Massachusetts Institute of Technology Graduate Student Council.

"Entrepreneurs drive the economy here in Queens and helping local students obtain the skills they need to be the future generation of business leaders is critical to the borough flourishing in the years ahead," said Seth Bornstein, Executive Director of the Queens Economic Development Corporation (QEDC). "We are extremely grateful to Congresswoman Meng for introducing this critical legislation and commend her for all she has done to assist entrepreneurs and small business owners in Queens."

"Junior Achievement believes it is critical to enhance the understanding of entrepreneurship and its impact on the American economy among our nation's youth," said Joseph Peri, President and CEO of Junior Achievement of New York. "The best way to ensure this is to make entrepreneurship education opportunities widely available and accessible in schools across the country, and therefore we strongly support passage of Congresswoman Meng's 21st Century Youth Entrepreneurship Act."

"On behalf of the more than 100 organizations that make up the Association of Women's Business Centers (AWBC), I am writing in full support of your bill, the 21st Century Youth Entrepreneurship Act," saidCorinne Hodges, CEO of the Association of Women's Business Centers (AWBC). "This legislation will play a key role in highlighting the opportunities afforded by entrepreneurship and small business ownership to students across America. Women's Business Centers help budding entrepreneurs start their businesses every day, and we've witnessed firsthand how beneficial small business ownership can be to individuals, communities and the economy. This critical piece of legislation will not only plant a seed of innovation in the minds of children interested in one day starting a business, but it will extend entrepreneurial education and training to all children, leading to the continual rise in rates of business ownership, and thus strengthening the economy."

"Supporting the next generation of youth entrepreneurs is a smart investment for our country's economic future," said Chiling Tong, President and CEO of the Asian/Pacific Islander American Chamber of Commerce and Entrepreneurship. "The Asian/Pacific Islander American Chamber of Commerce and Entrepreneurship (National ACE) applauds Congresswoman Meng for introducing the 21st Century Youth Entrepreneurship Act, which supports a pathway to success by nurturing an entrepreneurial mindset. We are proud to enthusiastically support this bill."

"NFTE (Network for Teaching Entrepreneurship) is the leading educational nonprofit focused on teaching startup skills and activating the entrepreneurial mindset in young people from under-resourced communities," said Dr. J.D. LaRock, President and CEO of Network for Teaching Entrepreneurship (NFTE). "Research shows the entrepreneurial mindset—a set of skills including initiative, self-reliance, adaptability, creativity, critical thinking, problem solving, communication, and collaboration—leads to lifelong success. NFTE students develop business and entrepreneurship skills through an innovative, engaging instructional model that is experiential and project-based. Empowered by the entrepreneurial mindset and equipped with the business and academic skills NFTE teaches, program alumni are prepared to thrive in college and career. NFTE works with schools and community partners across the U.S. through its nationwide network of program offices. Alliances with global youth development organizations bring NFTE programs to additional students internationally. NFTE reaches more than 100,000 young people annually and has served well over a million students since its founding. NFTE enthusiastically supports Congresswoman Meng's proposed bill to bring more entrepreneurship education opportunities to young people and stands ready to help foster the next generation of entrepreneurial thinkers, leaders and innovators."

"Lemonade Day leaders support Congresswoman Meng's 21st Century Youth Entrepreneurship Act," said Steven Gordon, National President of Lemonade Day. "Research by the Gallup organization has proven that the earlier children are exposed to the positive outcomes that can accompany entrepreneurship, the more likely they are to pursue entrepreneurial opportunities in their adult life. The 2016 Gallup-HOPE index findings indicated that American kids lack the educational opportunities necessary to reinforce and unleash their entrepreneurial aspirations. Unfortunately, many kids and teens are not learning about business planning or business risk-taking, budgeting, saving or investing either at school or at home. Fortunately, change is possible: America's youth can and should become financially literate for their own benefit as well as society as a whole. According to the U.S. Bureau of Labor Statistics, small businesses have created 62 percent of all net new private sector jobs since the Great Depression. America's youth can assume responsibility for their own livelihood as they mature by learning how to start and operate their own small business with the support of teachers, parents, adult mentors and community volunteers. Positive change is possible by working with school systems, elected officials, faith-based organizations and non-profits to bring more entrepreneurship-based curricula to America's classrooms."

"When I heard about Rep. Meng's proposed bill, aimed at equipping our youth with a variety of entrepreneurial tools, I was immediately on board," said Wendy Diamond, founder of the Women's Entrepreneurship Day Organization. "As the founder of the Women's Entrepreneurship Day Organization, I have spent the last six years committed to funding and advocating for entrepreneurs, both domestically and internationally. Inspiring creativity and innovation and encouraging entrepreneurship from a young age not only transforms lives, but has a tremendously positive impact on economies. The workforce of today is completely different from the workforce of the past, and our education systems need to be updated to reflect those differences. I hope to see this bill enacted and provide the vast amounts of talent around the country with the opportunities to have a significant impact."

Global Entrepreneurship Week ran from November 18 through November 24.