Students can win prizes, meet Warren Buffett (BKFK photos)
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Students can win prizes, meet Warren Buffett
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This week marks the launch of the 4th Annual Grow Your Own Business Challenge for kids, sponsored by The Fairholme Foundation. The program and competition were created to encourage kids to be entrepreneurial and practice good financial habits from an early age.

The national online competition kicked off today at a special launch event in Miami with the University of Miamis Launch Pad and the School of Education & Human Development. Launch Pad, an SMC partner, hosted an entrepreneurial event for over 100 elementary and middle school students in the Miami area.

Click here to register

The SMC Grow Your Own Business Challenge is open to kids 714, who are invited to submit original business ideas for consideration. The competition, sponsored by the Fairholme Foundation to further its mission of improving [financial] education, launched at noon on October 20, 2014, and ends on January 31, 2015.

Five individuals and three groups will be selected as finalists to present their ideas to Warren Buffett and a panel of VIP judges in May 2015 in Omaha, NE. One grand prize winning individual and members of one grand prize team will each be awarded $5,000. The finalists will be invited to nominate a teacher who was most inspirational in the process to join them in Omaha and win up to $1,000. For full rules and to enter, please visit www.SMCkids.com.

Over 4,000 kids entered the competition last year, and the grand prize winners were Jake Johnson from Charlotte, NC and group winner WiseGuide (Krystal and Allyson Graylin and Kei Chua) from Seattle, WA. They were selected as the winners because of their creativity, entrepreneurship, and inventiveness.

Parents and educators should both play an active part in teaching todays kids about financial literacy and money, says Warren Buffett, CEO of Berkshire Hathaway. Encouraging young kids to become more involved and take a hands-on approach with their money is a great investment in their future.

The Secret Millionaires Club, an animated series created by Genius Brands International is available online at www.SMCkids.com and airs on the HUB Network. The series stars an animated Warren Buffett, who records his own voice, and acts as a mentor to a group of kids as they learn important financial and entrepreneurial lessons.

The Secret Millionaires Club website also features online educational material for educators, parents, and volunteers to extend the valuable lessons from Mr. Buffett into the classroom, home and afterschool programs. The National PTA, Girls Inc., Junior Achievement and 4-H are all partners in the program this year. By Kids For Kids Co. (BKFK), a leader in youth innovation, administers the program and competition.

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COMMENTS (4)
  • smt0415love
    10/28/2014 - 08:39 a.m.

    I think it was good that they let kids try and save money and become an entrepreneur. I think its also good that its a completion because the person who wins can do that for a living and the other kids who went would be determined to win the next year.

  • TaylorSeifert-Ste
    10/28/2014 - 06:33 p.m.

    Contests like these are really cool but I never feel like trying to do them. In my mind if there are thousands of other kids competing then how would I even have a chance. Also, I over think things and can never make a decision. Instead of having fun with projects like that they are stressful and frustrating to me.

  • PJuan-Sti
    10/30/2014 - 05:36 p.m.

    This is really good for students for they can me motivated. And they can have a good future and have a really good job. And for students can do a better job in school.

  • MFrancisco-Sti
    10/31/2014 - 10:06 a.m.

    I think that it is great that students are now getting prizes for all of their hard work. But some prizes might be bit to good for them and to bad for them. I think this because so students do great in their classes and they don't get anything and students that don't do great they get the good things.

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