entrepreneurship

On the heels of my post yesterday asking if younger Millennials were "lost" amid economic turmoil, here's one proposed solution: embrace Millennial entrepreneurship.

"You have 77 million Gen Y-ers out there," said 27-year-old Scott Gerber, the founder of The Young Entrepreneur Council. "The reality is if you don't want a lost generation, you need to start thinking about the future."

[...]

Gerber and others like him think the traditional route to employment has failed their generation. "It's a scary moment we're in, but entrepreneurship can get us out," he said.

Forty percent of those in Generation Y, roughly defined as Americans born from the mid-1970s to mid-1990s, envision starting their own business, and about 20 percent already have, according to a report published last month by The Affluence Collaborative, a research partnership.

"This is a generation of serial entrepreneurs," said Donna Fenn, a journalist who wrote "Upstarts!," one of the first books identifying the Gen Y entrepreneur trend. "A lot of them start businesses in their 20s and many of them don't think that their first business will be their last. They're addicted to creating things, to the startup phase. By the time they reach their 40s, they will have started three, four or five companies."

Many Millennial entrepreneurs and activists (including Gerber's Young Entrepreneur Council) are pushing for the development of a bill--the Youth Entrepreneurship Act--that would eliminate some barriers to young entrepreneurs starting new businesses.

One element would be a program to forgive student loans and debt for young entrepreneurs, which he says would address a major hindrance to recent graduates who want to set up their own shop.

"Now more than ever, with young unemployment being so high, we have to be educating people that youth entrepreneurship is a viable career path and not some renegade choice," Gerber said.

Aaron Smith, co-founder of another young advocacy organization Young Invincibles, is also working with Gerber on the Youth Entrepreneurship Act. He acknowledges that now is a tough time to get anything passed in Congress, but contends that a bill helping young entrepreneurs would give the government a good return on investment.

"Increasingly, Congress is looking at ways to create jobs at a relatively low cost," the 29-year-old said. "One of the interesting things about young people is that their barrier to starting a business is small, in terms of the monetary amount. We're talking only a few thousand dollars."

Unfortunately, Smith is right. This Congress isn't likely to be hospitable to this legislation, even though its passage could relieve some economic strife among many young people in the short-term, while spurring the kind of economic development we need to revitalize the economy down the road.

However, while Gerber, Smith, and their organizations rally support for the bill, Matt Segal and Our Time, another organization supporting entrepreneurs under 30, are working with consumers on the other end of things.

...[Our Time] recently launched a "Buy Young" campaign. The idea is to encourage Americans to support more than 125 member businesses, including discount luxury retailer Gilt Groupe, clothing company Karmaloop and dry-erase paint company IdeaPaint, by offering exclusive discounts on their products and services.

The companies are responsible for creating more than 7,000 jobs since they were founded, Segal said. Since the campaign launched, the website has received more than 30,000 visitors.

If we are going to find our way out of this mess, we need to foster an environment supportive of the innovation needed to move us forward. Kudos to Gerber, Smith, and Segal and everyone else involved in doing this work.

Many people view Detroit these days as some kind of urban hellhole. Yet, countering this myth, The New York Times published an article today that explores the revitalization of Detroit, led by young entrepreneurs and a community supportive of these efforts.

The scene might have been run of the mill in Seattle or Williamsburg, Brooklyn, or other urban enclaves that draw the young, the entrepreneurial and the hip. But this was downtown Detroit, far better known in recent years for crime, blight and economic decline.

Recent census figures show that Detroit’s overall population shrank by 25 percent in the last 10 years. But another figure tells a different and more intriguing story: During the same time period, downtown Detroit experienced a 59 percent increase in the number of college-educated residents under the age of 35, nearly 30 percent more than two-thirds of the nation’s 51 largest cities.

These days the word “movement” is often heard to describe the influx of socially aware hipsters and artists now roaming the streets of Detroit. Not unlike Berlin, which was revitalized in the 1990s by young artists migrating there for the cheap studio space, Detroit may have this new generation of what city leaders are calling “creatives” to thank if it comes through its transition from a one-industry.

Emphasis mine.

Thankfully, these young people aren't just there to hang out and have fun. Rather, those "creative" types, who have already settled in the city, are establishing efforts like Move Detroit 11/11/11, which aims to get 1,100 people to move to Detroit by November. Recognizing that they need to do more to make the city more attractive to outsiders, a number of shops and restaurants have established themselves in the last several years.

With these new residents have come the trappings of a thriving youth culture: trendy bars and restaurants that have brought pedestrians back to once-empty streets. Places like the Grand Trunk pub, Raw Cafe, Le Petit Zinc and Avalon Bakery mingle with shops with names like City Bird, Sole Sisters and the Bureau of Urban Living.

Those familiar with past neighborhoods-of-the-moment recognize the mood. “It feels like TriBeCa back in the early days, before double strollers, sidewalk cafes and Whole Foods,” said Amy Moore, 50, a film producer working on three Detroit projects. “There is a buzz here that is real, and the kids drip with talent and commitment, and aren’t spoiled.”

But while these residents have built some infrastructure to support themselves, the city of Detroit and the region has welcomed this influx of young people, providing supportive services aimed to nourish this growth.

Part of the allure of Detroit lies in simple economics. Real estate is cheap by urban standards (Ms. Myles lives in a $900-a-month one-bedroom apartment with a garage), and the city is so eager to draw educated young residents that it is offering numerous subsidies to new arrivals. Ms. Myles, for instance, received $3,500 from her employer, which, like many companies in the city, is offering rent or purchasing subsidies to staff members who choose to live in the city.

Detroit Venture Partners is offering start-up financing to early-stage technology companies; Techtown, a business incubator, research and technology park associated with Wayne State University in Detroit, is providing support to entrepreneurs and emerging companies through its “Thrive” program. And Bizdom U, an “entrepreneurial boot camp” started by Dan Gilbert, the founder and chairman of Quicken Loans, is offering graduates of its four-month-long course financing opportunities of up to $100,000 if they base their start-up in Detroit.

[...]

In addition, Green Garage Detroit, an incubator for environmentally friendly companies, plans to open its doors in August to lend support to at least a dozen start-ups. And there’s the Detroit Creative Corridor Center, which supplies infrastructure, strategic counseling, consulting and resources for those wanting to start businesses in film, fashion, digital media, production or architecture. With all this help, the city seems like a giant candy store for young college graduates wanting to be their own bosses.

In addition, many urban farms have sprouted throughout the city, providing its residents with opportunities to directly support the local economy and live more sustainable lives.

Perhaps most importantly, the city already has a vision and initiative in place -- similar to the more short-term Move Detroit 11/11/11 -- that hopes to create "young talented households" in the city.

Detroit’s revival is also being attributed to the city’s “15 by 15” initiative, started in 2008. With a goal of getting 15,000 young talented households to downtown by 2015, government workers, entrepreneurs, philanthropists, business leaders and individuals, along with nonprofit groups, have been working to entice the 94 percent of college graduates who initially migrate to cities, according to recent census figures.

“Our goal is to attract and retain this young talent pool,” said David Egner, president and chief executive of the nonprofit Hudson Webber Foundation, spearheading the “15 by 15” initiative. “We want to give them affordable housing, interesting jobs and business opportunities they cannot find in other cities.” His biggest obstacle, he added, is still the city’s reputation of being a dangerous place to live. “Crime in downtown Detroit is actually 37 percent less than the national average, but few people know that,” he said.

In the end, Detroit's example is a great one to learn about. While not finished, it's a great example of how Millennial entrepreneurs can generate the momentum needed to revive a once foundering community, while being supported by the local government.

Some quick hits for you as we head into the weekend (or, perhaps, just the end).

• A Washington Post piece asks if college is worth it
• Ezra Klein flags a graphic showing the percentage of recent college grads with jobs, by major.
  

  

• Speaking of college, here are ten reasons to get pumped for life following graduation.
• Nebraska's 4H organization and the YMCA team up to offer youth entrepreneur classes. An interesting partnership and initiative.
• CBS writes up the story we covered yesterday regarding Rockefeller's belief that young people are morally hollow. (Apparently 13 more people like him on Facebook between yesterday and today.)
• New Hampshire is aging.
• The Pope knows what's up--at least regarding the wisdom of listening to young people.
• Two young candidates in the Harrisburg, Pennsylvania area won primaries this week.
• Young Canadian city council candidate links young people to the local community.
• UK developing youth "underclass"
• The government: Just say no to sexting.
• Young people afraid to call themselves feminists.
• When will the GOP realize they are on the wrong side of history?

Opening the conference was Justin Rockefeller chair of Generation Engage. He spoke a little about his history and the number of elected officials in his family.

"My father was red in the face many times when coming home, remarking how one piece of paper crafted in this building has a very tangible effect on real workers in VA. On average young people don't tend to see politics as a means to the end of the process."

I agree, though Future Majority has spent a lot of time talking about how this isn't necessarily the case. In the past, our generation has been monumentally ignored. The statements are - we don't vote, we don't care, we don't pay attention. We all know that we care, and we absolutely pay attention - and if the progress of the last 9 years is any indication we do vote.

But my long-time belief is that the major failure of government is a lack of outreach to young people.

I remember being in high school when the West Wing first started on TV. And a conversation that the fictional President had at a UVA townhall he conducted. In it he said that young voters make up 1/3 of the country yet only a small percent of the voting public. He asked the audience - "so are you failing us or are we failing you... I think its a little bit of both"

"Politicians and young people pass each other like ships in the night. Too often American democracy at times seems like a monologue rather than a dialogue. So many under privileged young people lack access and influence to the process to impact their future." Rockefeller continued.

It couldn't have been said better. A major underlying narrative about getting young people to the polls has been - if you build a movement they will come - if you ask us, we will vote. The same is true with participation and engagement in the government process. If government continued to engage young people after the vote was given, young people will be more engaged in the process.

"If you remember nothing I've said remember this: Encourage your friends to embrace their frustration."

Indeed out of frustration, progress is created.

"Social entrepreneurship combines the best of liberal and conservative ideology because it is results driven but promotes social ideology. As has been said, you can teach a man to fish, but social entrepreneurship is revolutionizing the fishing industry."

Video will be provided in a few hours, stay tuned.

Saturday night reading... check it out:

• Mother Jones and Campus Progress are looking for "campus hellraisers" to profile in the September-October 2009 issue of Mother Jones. Check it out (self-nominations are allowed).
• A "No on Gay Marriage" campaign is an epic fail with young people.
• Christian punk and heavy metal music is blurring the lines between young evangelicals and secularists.
• MTV has announced that TRL, having been canceled last November, will be replaced by the Alexa Chung Show. The new show reportedly will heavily emphasize Twitter through courting online reaction to its music videos and celebrity guests.
• Some good news and some bad news from a survey regarding youth (ages 13-29) attitudes toward the Green Movement:

  Good: Youth see the Green Movement as "responsible" and "cool," and they believe it to be a very worthy cause.
  
  Bad: Many youth believe the Green Movement to be too demanding on a personal level, too time-consuming and too inconvenient.

• Tens of thousands of young Americans will be educated and trained to deal with America's energy problem, thanks to President Obama.
• An article in BusinessWeek calls for more business schools to rein in Millennial entrepreneurs by focusing increasingly on problem-solving.
• Terry McAuliffe is seriously hemorrhaging some youth voters in Virginia's Democratic gubernatorial primary.

You chose to DREAM. And you chose to DO.

Now is your chance to INSPIRE the world with your story.

Ashoka’s Youth Venture and Changemakers is partnering with Staples to launch our first global competition to recognize young leaders who are finding new ways to create positive change in their communities.

In other words, we want to honor young leaders like you!!

Enter your project in the Staples Youth Social Entrepreneur Competition to showcase your innovation, find supporters, and win prizes.

Tell us your story today at http://changemakers.net/node/9138/

Now through October 15th.

Winners will be announced November 12th.

Matt Singer is the CEO of Forward Montana, a home-grown non-profit that trains, mobilizes, and elects new progressive leaders in Montana.

When Forward Montana started back in 2004, we were an all-volunteer operation. At the beginning, we also thought it likely that we would stay that way. The core group had skills -- raising big checks was not one of them.

So we worked in coalition to move from youth voter turnout by phones to using doors instead. And then we launched a giant confirmation battle targeting the student member of the board of regents and won -- something that hadn't been done in 20 years, much less by a volunteer operation.

There's an energy to volunteer operations, including campus groups, where people who aren't making any money feel empowered to make the decisions regarding what the organization does. Strangely enough, getting staff can almost kill that initiative. When you're all going broke for the love of it, there's solidarity. When people start getting paid, it's easy to establish unnecessary hierarchies and for others to assume that the people getting paid can get the work done.

As I work on my book, I'm writing about the many new organizations run by and for Millennials that have sprung up over the course of the last four years. Usually that means that I'm writing about how and why those organizations got started.

For instance, Drinking Liberally got its start because Justin Krebs and Matt O'Neil wanted to integrate their social lives with political discussion. They knew lots of folks in creative fields and in politics, and thought that the two crowds could learn a lot from each other through informal discussion over some pints. No organization existed to make those social ties, so they created one themselves. Music for America began because myself, Dan Droller and Franz Hartl saw first hand how traditional political action - protest - failed to stop the march to war. We were all avid music fans and concert goers and we all thought that Rock the Vote was a failure in mobilizing those communities. So we set out to mobilize them ourselves on behalf of Howard Dean, the credible anti-war candidate.

Campus Progress, Young People For, Oregon Bus Project, National Hip Hop Political Convention, The League of Young Voters, The Roosevelt Institution, DMI Scholars, Forward Montana, New Era Colorado, Punk Voter . . . the list of new organizations that were either started by Millennials or created for and primarly run by Millennials could go on, and each would have a similar story.

In each instance, I've focused on the how and why each organization started - where the funding came from, what hole the org filled in the larger progressive movement, etc. But there's another why. One that goes deeper than the strategic failures of existing organizations or the gaps in progressive youth infrastructure. Why has all of this social entrepreneurialism emerged from the minds and actions of young people?