The grant will enable JANY to enhance the competition, which enrolled six hundred students from fifteen schools earlier this year, effectively doubling participation since 2008. Now in its third year, the spring competition helps groups of students learn to work collaboratively to identify a need in the marketplace, develop and present a business plan, and compete against other teams of students.
In addition to financial support, NASDAQ OMX will provide corporate volunteers to serve as mentors and business advisors through in-school classroom sessions during the competition. During the 2009-10 school year, NASDAQ OMX also will provide volunteers for other JANY programs and host the final citywide competition at the company's Times Square office.
"The NASDAQ OMX Educational Foundation supports entrepreneurship and capital formation through educational programs," said Joan Conley, NASDAQ OMX senior vice president and corporate secretary. "The JA New York Business Plan Competition has proven itself to be a great vehicle for nurturing the entrepreneurial spirit of young people, showing aspiring student entrepreneurs what it takes to launch a successful business. We're pleased to help those efforts to provide greater mentoring and support for emerging companies who might one day become a part of NASDAQ."