Entrepreneurship

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Own It Ventures, a woman-owned, NJ based organization has collaborated with Rutgers University-Center for Urban Entrepreneurship & Economic Development and investors from TechLaunch and Delaware Crossing for a "Get Your Business Pitch Ready for Prime Time" Entrepreneur Roadshow on October 26, 2012 at Rutgers Business School in Newark, NJ. The day is set to educate women entrepreneurs on the important elements of successful business pitches to Angel Investors, the Media and Retailers.      

"We have found that most entrepreneurs do not fully understand the process and mechanics of pitching their companies and/or products to investors, the media and retailers. The issue for women is compounded with the fact that if we do not feel confident or knowledgeable, we typically will not attempt to pitch," states Melissa Cloeter, President of Own It Ventures.

The agenda for the Entrepreneur Roadshow is to alleviate the angst and improve the areas where women lag; specifically access to capital, revenue growth, and access to influential business networks. According to the Survey of Business Owners Census in 2007, women own approximately one third of small businesses and employ 7.6 million people, yet only 4% of women owned firms secure bank loans to finance growth and less than 2% receive funds from VCs, family and friends.

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If one has the time, energy and plan, jump-starting a business can bea cinch. But that's not necessarily the case if the chance at entrepreneurship falls beyond the reach of a deserving African-American student who welcomes the challenge, but lacks resources and guidance.

That scenario and others were addressed during a recent summit sponsored by the Small Business Association (SBA) and U. S. Department of Education in collaboration with the White House.

When asked what she tells young people bent on becoming their own bosses, panelist dt ogilvie of Rutgers University, responded that entrepreneurship is one of the most important subjects that can be taught. She noted a campus project which encourages youth to think about owning businesses.

"We're doing something called 'Lemonade Day' in Newark for the first time," ogilvie said. "Kids from kindergarten to age 12 learn how to be entrepreneurs in the context of developing a lemonade stand. [They learn] all the attributes of business" by putting a stand together to acquiring money for supplies, marketing and hiring.

"And that's important, because our young people need to be aware of entrepreneurship as an alternative career," said ogilvie. "We believe that entrepreneurship is the key."

Rutgers alumni Joe Shure and Rohan Mathew founded The Intersect Fund in 2008. Learn how their entrepreneurial spirit has grown their business and see what advice they give to aspiring social entrepreneurs.