< PRUDENTIAL EMERGING VISIONARIES WINNERS

Jordyn Wright

PRUDENTIAL EMERGING VISIONARIES 2023 | FINANCIAL SOLUTION WINNER 

Project: Passion to Purpose

Jordyn Wright, 15, of Rosharon, Texas, started a youth entrepreneurship program to teach young people how to identify their passions and use them as a launching point for creating innovative enterprises that serve their communities. 

Jordyn’s initiative gives young people access to the resources and mentors they need to get started exploring a business venture. Programming covers topics including entrepreneurial mindset, business budgeting, pitching and financing. At the end of the training, students convene to present their product or service. So far, Jordyn has mentored more than 60 young people and has hosted 17 youth entrepreneurs during her annual summer convening. 

AGE: 14

LOCATION: Rosharon, Texas

ISSUE AREAS:

Education, Entrepreneurship, Economic/Financial Empowerment, Youth, Equity & Inclusion

When I was younger, I had eczema, and it was hard to find products that did not irritate my skin. I decided to make my own. After tons of trial and error, I was able to create soaps that worked well for me. I gave some away to others with sensitive skin and they loved them! My parents suggested I start a business.  However, I had no examples of youth entrepreneurs to follow, and there were no local programs I could attend to help me learn more about entrepreneurship. The process was frustrating. After conducting a ton of research and with the help of my parents, I was able to officially start my business at the age of thirteen. 

I was later invited to share my story with a group of students in high school. Being homeschooled, I didn't know how little entrepreneurship and basic financial literacy concepts were being taught. The majority of the teens I spoke with had something they loved to do and hoped to one day start a business. However, none of them thought about starting one now. I decided to host a market for youth in my community who wanted to turn their hobby into a business, even if they had never sold a product or service before. Eight kids participated. Three of them are still running their businesses today.  

60% of teens want to start a business, but only 5% take action. I believe a lot more would try if they had access to the right resources and mentors. 

We know when strong entrepreneurship and financial literacy education is adopted, we see a reduction in the wealth gap, an increase in innovation, and a stronger infrastructure of social centers. However, only 23 states require financial literacy to be taught in high schools. In Texas, only one half-credit is required to graduate. If these concepts are not learned at home, youth are being set up to fail economically before we are old enough to get a credit card. This lack of access drives disparities in wealth generation and innovation among vulnerable people groups that have limited access.  

Also, prior to the pandemic, 600 million jobs would have been required in the next 15 years to meet our employment needs. COVID-19 has worsened the outlook for youth ages 15-24. Youth of color, like me, tend to have unemployment rates well above the average working population. Entrepreneurship is a way for us to create jobs for ourselves as well as for others. And through representation, we can become models for other youth to explore the benefits of entrepreneurship; having both an economic and social impact in our communities.  

Finally, one of the main barriers to employment for youth is the lack of experience and skills. While owning a business isn't for everyone, exploring entrepreneurship in a meaningful way will help us gain skillsets employers are actively hiring for. 

I started Passion to Purpose Youth Entrepreneurship Program in July of this year, a Houston-based afterschool and summer initiative that serves mentees enrolled in 6th - 12th grade. The program’s main focus is to teach youth how to turn their passions into real businesses with social impact. Working with three community organizations, I have mentored over 60 kids and hosted 17 youth entrepreneurs during my annual summer market. I'm currently hosting an after-school program this fall and expect to have 25 youth entrepreneurs participate in my Passion Market this Christmas.  

The four-week summer program hosts one 2-hour class each week. The six-week program hosts one 1-1/2 hour class per week. New topics are covered in each session to include entrepreneurial mindset, problem-solving, business budgeting, target market, value proposition, pitching, and financing. Mentees are required to participate in at least one hour of community service and choose a social cause for their businesses to support.  

At the end of each program, students participate in a mock market where they will present their product or service idea to an audience of parents, peers, and or teachers; allowing them to put into practice what they have learned during the program. Students are encouraged to participate in one, or both, annual youth markets to bring their products or services before real customers. 

I've partnered with several community-driven organizations that have established afterschool programs, including Hype Freedom Schools, Girl Talk of Missouri City, and Young Biz Kids. By partnering with them, I am able to provide the peer-led financial literacy and entrepreneurial component that is missing from what they are currently offering their students. This has also eliminated my need to initially find mentees for my program as I build it. I've also joined networking groups and continue to volunteer for other organizations, which provides additional exposure for my program. I am currently in talks with two prominent organizations that would like to onboard my program in 2023. 

I also apply for grants and work with community partners to cover the cost for those students who may not be able to afford the program fee. It is very important that my program is accessible to all students, but especially those in vulnerable populations. 

My goal is to expand access to resources youth entrepreneurs need to become successful changemakers. I am working with my local chamber of commerce and the city's innovation hub to create a maker's space for youth that will provide kids within my community with tools and resources that will help them learn new skills, gain the mentorship of local business owners, and secure a retail space for youth entrepreneurs to sell their products. 

The annual market event encourages youth to explore ways to turn the things they love to do into a problem solving business that not only provides solutions for their customers, but supports a social cause as well. 

Each year, I host an annual market where youth are able to take what they have learned in my program and apply it to their businesses. This past summer, I had 17 students participate. For many, this was the first time they were able to earn money for an idea that they came up with. 100% of the students asked to continue their participation in the program's future events. Seeing other youth and having the support of the community around them, kids were inspired to continue their entrepreneurial journeys beyond that one event.  

Also, participants were asked to donate to a charity or community cause. 90% of those who participated understood the importance of giving back to their communities and pledged to donate a portion of their earnings.  

Finally, I also host a Christmas Joy Drive each year that provides gifts to underserved youth or youth in crisis. Even though a portion of my participants may fall in this category, they are willing to serve other kids like themselves. This shows how youth, no matter what their background or situation, can lead change within their own communities by giving to others. They invite their friends and family to join as well.