Poor Economy + Shortage Of Entrepreneurs + Young = Jack POT (Perfect Opportunity & Timing)

Here is another awesome DC initiative that is right up my alley. If you are an entrepreneur or student living in the DC area, you may want to put this in your calendar – Ashoka’s Youth Venture and Young Impact, in partnership with a consortium of sponsors, announce the StartUp Scramble DC University Challenge taking place January 29-31st, 2010!

If you are not an entrepreneur, I strongly urge you to consider becoming one fast – particularly if you are a student and just about to graduate. Here is Why:

a) I don’t need to remind you that the current economy and job market is pretty bleak and will probably stay this way throughout 2010. I don’t mean to be pessimistic, in fact I am a very optimistic dude. But this is real. There is no job waiting for you once you graduate. Hope it gets better in 2011.

b) There has been a major shortage of entrepreneurs in our nation’s capital and in other parts of the country these past few years.

c) You are single, with little responsibility or financial burden, so you can afford to forgo a big paycheck for a little while.

Historically, when times are bad for the economy, it can be a great time to start a business. In fact, 16 of the 30 companies that make up the Dow industrial average were started during a recession or depression. These include Microsoft, Disney, McDonald’s, General Electric and Johnson & Johnson. In fact, from what I remember, Although, Google started during the glory days of late 90’s, but it really started kicking ass during the 2001 recession.

Still curious what makes it possible for new companies to thrive when times are so bad? or why should you launch your own company?

Disruption is the first major thing happens in bad times. This means things change, change quickly and dramatically. When things change, there are opportunities, and, you as the entrepreneur seize opportunities.

Therefore, a + b + c = Jack POT – Perfect Opportunity & Timing to become an entrepreneur NOW!” Take the risk and create jobs or something to become the leader in a new or dynamic space. You, the entrepreneurs are the vanguard of our economic and social changes. Think of a niche and try to sell your idea using all the awesome electronics resources available today on the Net. Rely on friends and a network of friends who can help you with the seed finance. A few years from now, you guys will be in a profession that is not even defined today. Did anyone know texting 10 years ago? Or Web searching 16 years ago? Also, let’s not forget that the financial resources our government has allocated for entrepreneurs. Look it up.

Back to the StartUp Scramble DC. Depending on your situation, there are numerous ways for you to get involved, either as a Participant, Sponsor, Mentor, Speaker, Panel Member, or skill-specific Event Volunteer (media/press, video/film, etc.).

The StartUp Scramble™ DC University Challenge will bring 100+ entrepreneurial-minded college students from DC universities together in a weekend-long event to build and launch sustainable ventures that address social issues affecting local communities.

From Friday to Sunday evening—54 hours—teams of students organize to pitch, plan, and work tirelessly to launch socially-conscious businesses and organizations. Participants deep-dive into an accelerated process of venture development over the course of an intense, two-day facilitated start-up experience. High-profile guest mentors, speakers, and panel members visit throughout the weekend, giving participating students the opportunity to network with potential investors, service providers, and employers.

Youth Venture and Young Impact are inviting aspiring social entrepreneurs from over seven leading universities across the DC-Maryland-Virginia area to participate in the StartUp Scramble™:
1. American University
2. Catholic University
3. George Mason University
4. Georgetown University
5. Howard University
6. The George Washington University
7. University of the DC
8. University of Maryland

Students will return to their campuses equipped with the platform, tools, knowledge, network, and motivation to sustain the momentum around advocacy and action that they began in the weekend Scramble.

The StartUp Scramble™ DC University Challenge concludes Sunday evening with teams pitching their ventures to a panel of expert judges. Winning teams will receive mentorship, up to $1,000 in seed funding, entry into a global network of Ashoka “changemakers,” and the possibility of one year of incubation services from Ashoka and its partners. Youth Venture will continue to work with the winning young social entrepreneurs intensively in the coming year to support their ventures, connecting the venture teams to StartUp Scramble™ sponsors for additional mentoring and engagement.

Prior to attending the event, I recommend you read one of my recent articles on this subject which addresses the challenges you may have as an entrepreneur on the East coast – Washington DC Potomac River vs. California Silicon Valley

You can register for the event here…

One last note, I will be one of the panelist at the GWU SEAS (School of Engineering and Applied Science) Seminar Series on Entrepreneurship on Jan 19th. The seminar titled “How I Got Started: Getting Your Idea Off the Ground”. It is open to public. Look forward to seeing you there.

Here is an an introduction to Youth Venture: