President Obama Welcomes Young Entrepreneurs to the Oval Office

The winners of a Network for Teaching Entrepreneurship business plan competition met with the president to discuss innovation.

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Big meeting: Winners of NFTE's National Youth Entrepreneurship Challenge met with President Obama on Tuesday.Five teenage entrepreneurs met with President Obama at the White House on Tuesday -- an experience that likely wasn't in their business plans. The commander in chief welcomed the winners of the Network for Teaching Entrepreneurship's National Youth Entrepreneurship Challenge to the Oval Office, to offer his congratulations and to discuss the future of innovation.

The national business plan competition, which is part of a NFTE entrepreneurial studies program, received some 24,000 submissions. Participants in the program receive hands-on training in developing a business and apply math, reading, writing, and critical thinking skills to their business plans.

The winning businesses included Mamma Nia's Vegan Bakery; Beta Bytes, a computer-services company; Sweet Tooth Bites, a cake-ball company, and TattooID, a temporary tattoo concept. The founders of these businesses are 18 or younger.

"When young people learn to see opportunity amid obstacles, by applying entrepreneurial skills to real-world scenarios, they are armed with resilient tools that will increase their success in college and beyond," NFTE president and CEO Amy Rosen said in a statement.

Founded in 1987, NFTE is a nonprofit that seeks to inspire young people from low-income communities to pursue educational opportunities, start their own businesses and pave a path to success.

Tags: Network for Teaching Entrepreneurship, News, NFTE, NFTE business plan competition, NFTE contest, NFTE winners, Obama, Obama small business

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