InterWest News
SIFE teaches local kids entrepreneurial skills
The Times-Delphic
Kensie Smith
3 December 2009
Small hands worked to craft beaded bracelets, tasseled bookmarks and colored magnets with an important goal in mind. Fourth- and fifth-graders from the Haven Youth Center worked tirelessly on these projects to try their hands at small business.
Drake's Students in Free Enterprise (SIFE) introduced the program to teach the children about entrepreneurship. The students made all of the products on their own, determined prices and then sold the merchandise at the "Small Hands, Big Plans" craft sale that SIFE hosted in the Olmsted Breezeway Nov. 18.
The participants said they enjoyed the chance to come to Drake and had a good time making the items.
"I liked that you could be creative when you make the crafts," 10-year-old Manuel said.
A unique part of the project was each student had a special role in the "company." Manuel had the role of "fashion consultant," and fourth-grader Ciattle had a nametag indicating her role as "boss."
"We helped teach them marketing skills and teach them positions in a company," junior SIFE member Ingrid Zhao said.
SIFE works to encourage business and economic stimulus. The project introduced the elementary students to entrepreneurship to promote engaged citizenship.
"All the money we make, we're going to take and send to Africa to help the poor people and kids," Ciattle said.
The sale gave the young entrepreneurs the opportunity to give back to the after-school program they all attend and enjoy. Supplies for the crafts, such as the beads, paper and glitter, were all donated. The hard-earned profits will go directly to The Haven, a Children and Family Urban Ministries after-school program.
The "company" said they plan to donate some money to a charity in Africa and the rest will go toward programming for their group.
"Depending on how much they make, they are going to try and take a trip or buy games for the program," SIFE member Katelyn Massey said.
Massey said they've been working with the student group for over a month, volunteering at the after-school program each week.
"I think it's a good event that brings all the kids to a college campus to have something to look forward to," sophomore SIFE member Eric Griffin said. "And, it teaches them about business."
To celebrate their success, the young merchants were treated to a meal at Hubbell Dining Hall, compliments of Sodexo.
The craft sale was one of several events of SIFE's Entrepreneurship Week, which ran from Nov. 16 to Nov. 21. Other opportunities included an entrepreneurship panel of current and recent Drake graduates and a roundtable discussion with alumnus Michael Sweeny, a founder of Venture Capital Firm/InterWest Partners. A keynote address by Drake graduate and president of Monterey Mills, Dan Sinykin, and a service project for Craigslist tied up the week's activities.
A special ceremony was also held to celebrate a $3 million gift from Drake alumnus Bill Buchanan, president of Unified Life Insurance Co.
The donation will be used to found the William M. and Jean M. Buchanan Center for Entrepreneurial Leadership. Housed in the College of Business and Public Administration, the center will offer a business lab setting for students to increase their skills under the direction of a full-time faculty member.
