There are more than 500 Virtual Enterprises International firms (which help students develop business skills and entrepreneurial thinking) in the United States. At their annual Youth Business Summit, high school teams that have qualified for the National Business Plan competition attend and compete to win the national title. This year, GFS was there, among the top 33 teams in the US.
Starting as early as November, state and regional competitions were held to determine who would qualify for nationals. Members of GFS's Bloom Technologies (Aidan Curry '19, Jacob Sternberg-Sher '19, Gigi Guida '19, Owen Keim '20, Jackson Quitel '19, and Ethan Rupp '19) won the first-ever Pennsylvania state competition for their written business plan in January held at Albright College in Reading.
The National Business Plan competition took place this past Monday, at the Microsoft Technology Center in Times Square, NYC. The national championship is compromised of a written business plan (worth 30% of the final score) and an oral presentation, followed by a Q&A session with entrepreneurs, economics professors, and industry professionals. The GFS Bloom Technologies team tied for first place in the written competition! Their business plan, along with the other top five teams, will be used as a model for students across the country next year.
After two rounds of oral presentations, GFS placed in the top eight for a final round of presentations and Q&A with a panel of judges from the corporate sponsor HSBC. GFS placed 5th in the final round.
Additionally, three separate competitions were taking place concurrently in the categories of Human Resources, Finance, and Marketing. GFS had two teams (Bloom Technologies and Evergreen Technologies, see the members below) competing in each of the competitions. The results are below.
Top ten in Finance: Bloom Technologies & Evergreen Technologies
Top ten in HR: Bloom Technologies
Top ten in Marketing: Evergreen Technologies
Evergreen Technologies Team Members Focused on Human Resources, Finance, and Marketing:
HR: Michael Harrity '19 & Tyson Maddox '20
Finance: Julian Spiro '20 & Leo Wang '19
Marketing: Vanessa Huang '20 & Raia Stern '19
Bloom Technologies Team Members Focused on Human Resources, Finance, and Marketing:
HR: Porter Garst '19 & Seth Jhaveri '19
Finance: Claire Partridge '19 & Jekeun Jung '20
Marketing: Carlee Nicholl '20 & Tommy Fournaris '20
Experience the day via video below!