Gen Y=Gen E (for entrepreneur)

Date posted: October 26, 2011

By Rieva Lesonsky

A few weeks ago I wrote an article for Business on Main about youth entrepreneurship. I believe that Generation Y is the most inherently entrepreneurial our nation has ever seen. This week several new programs for and from Gen Y entrepreneurs were introduced. Here’s a rundown:

On Tuesday a new website for young entrepreneurs was launched by the Small Business Administration, as part of the Obama Administration’s Startup America initiative. This site is designed to help Gen Y entrepreneurs reduce the burden of their monthly student loan obligations.

This concept was part of the Youth Entrepreneurship Act, a joint vision of Scott Gerber, founder and president of the Young Entrepreneur Council (YEC) and Aaron Smith, co-founder and executive director of Young Invincibles.

And perhaps most exciting, Gerber (through YEC) and several other young entrepreneurs and money folk just announced the creation of Gen Y Capital Partners, an early stage venture accelerator. Gen Y Capital Partners has committed to “investing $10 million in as many as 100 Millennial-generation startups including a promise to pay down any of these young entrepreneurs’ remaining federal student loan obligations over the next three years.” Within the next two years Gen Y Capital Partners plans to scale their program, launching incubators at colleges across the county.


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1 comment on “Gen Y=Gen E (for entrepreneur)

  1. Hi Rieva,

    Interesting information. According to the Kauffman Foundation http://www.kauffman.org/ there are more over 45 year olds starting businesses than over 20 year olds. In fact, from over 45 it declines to 20 somethings are the fewest number of startups, but you would not know it with all of the media attention of young folks. It’s like the mompreneur demographic, hidden from main stream media outlets because maybe it’s not hip enough.

    Thanks for the info.

    Kevin

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