Lamell McMorris (pictured), the CEO of the Washington D.C.-based Perennial Strategy Group, has launched a youth-oriented competition that will award budding entrepreneurs a $1,000 prize to either start or expand their own business ventures.
The 2012 Perennial Youth Business Competition is open to high school or high school equivalency program students who live in the D.C., Maryland, or Virginia areas. The initiative was spearheaded by McMorris, who sits at the helm of a 10-year-old family of businesses that focus on government relations, law, sports, and entertainment. The company offers strategic insight and external affairs services to some of the nation’s leading decision-makers in the private, public, and nonprofit sectors.
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As a result of their expansive business ventures, it’s no wonder that McMorris is a crusader of entrepreneurship. “I’m pleased to encourage young people to think big and act on their ideas, and with the 2012 Perennial Youth Business Competition, I hope to give youths a chance to do just that, McMorris said in a press release.
Those teens who embody the entrepreneurial spirit and who have big dreams for the $1,000 seed money prize should apply to the competition no later than May 25, 2012. Teams are also encouraged to apply and all businesses are welcomed. Contestants must complete an online application detailing their business proposal, financial projections, and marketing strategies.
In late May, 20 semi-finalists will be selected to compete with their own “elevator pitches” before a panel of local and national business leaders. In late June, 10 winners will be announced, culminating in a banquet on June 23, where they will be recognized and awarded their prizes.