Georgetown and Year Up Partner on Business Plan Competition

April 22, 2010

Business Students to Provide Coaching and Host Event April 23

Washington, D.C. – Georgetown University’s McDonough School of Business has entered into a partnership with Year Up National Capital Region to host a Business Plan Challenge event for young adults in the D.C. area enrolled in Year Up’s job training and higher education preparatory program.

On Friday, April 23, 16 teams of Year Up students will present their business plans to a panel of judges, including entrepreneurs, corporate leaders, and Georgetown McDonough School of Business faculty. Leading up to the event, 30 undergraduate student coaches from the Georgetown Association of Minority Business Leaders and Entrepreneurs (GAMBLE) mentored the Year Up students as they prepared their business plans.

“Through this collaboration, Georgetown’s McDonough School of Business is using its expertise in case analysis and entrepreneurship to provide a complementary co-curricular experience for both Year Up and Georgetown students,” said Norean R. Sharpe, undergraduate dean of Georgetown’s McDonough School of Business. “Our business students serve as peer mentors for those involved in Year Up to convey the importance of team work and presentation skills in management – and to learn about the experiences of the Year Up participants. This is an opportunity for Georgetown to continue our mission of educating leaders who understand the ‘double-bottom line’ of any organization.”

Lauded by President Barack Obama for its proven, innovative approach, Year Up is a national nonprofit organization that provides career training to low-income young adults and helps them secure internships with top U.S. companies. The organization prepares students for the workforce using a combination of technical and professional skills, college credits, an educational stipend, and corporate internships. Successful completion of the intensive, one-year program enables graduates to move into full-time employment and higher education. To date, 87 percent of graduates were placed into positions within four months of graduation, earning an average of $35,000 per year.

“This competition represents a unique experience for Year Up students and for individuals at Georgetown’s McDonough School of Business to share best practices and develop invaluable entrepreneurial skills for their career development,” said Tynesia Boyea Robinson, executive director of Year Up National Capital Region. “This collaboration represents the core of Year Up’s mission: to provide urban young adults with the skills, experience, and guidance to move into the economic mainstream.”

The preliminary round of presentations will be held from 9 to 11 a.m. in the Rafik B. Hariri Building, followed by the final round from noon to 1 p.m. Awards will be presented during a lunchtime ceremony starting at 1 p.m., where the keynote speaker will be Jimmy Lynn, former vice president of diversity partnerships and strategic relationships at AOL and an adjunct professor at Georgetown’s McDonough School of Business.

Media who are interested in covering the event should contact Teresa Mannix, director of media relations, at (202) 687-4080 or tmm53@georgetown.edu.

About Year Up
Year Up is a one-year, intensive training program that provides urban young adults, ages 18 to 24, with a combination of hands-on skill development, college credits, and corporate internships. Year Up currently serves more than 1,500 students each year at sites in Atlanta, Boston, Providence, New York City, San Francisco, and National Capital Region. Learn more at http://www.yearup.org.

About Georgetown University’s McDonough School of Business
Georgetown University’s McDonough School of Business is a premier business school located at the center of world politics and business in Washington, D.C. Some 1,400 undergraduates, 1,000 MBA students, and 500 participants in executive education programs study business with an intensive focus on leadership and a global perspective. Founded in 1957, the business school today resides in the new Rafik B. Hariri Building, a state-of-the-art facility that blends the tradition of Georgetown University with forward-thinking functionality. For more information about Georgetown’s McDonough School of Business, visit http://msb.georgetown.edu.