YEPS FAQ


Youth Entrepreneurship Competition

FREQUENTLY ASKED QUESTIONS
Who is eligible to apply?
When can I apply?
How do I get an application?
What are the details of the awards?
What are the selection criteria?
How do I know if I was selected?
How do I make changes to my application?
What are my responsibilities as an award recipient?
How and when are checks issued?
How and when will I receive notification?
Are scholarships taxable?
Who is eligible to receive the awards?
How do students apply for the Youth Entrepreneurship Competition?
What happens after the application deadline?
What is required of a participant?
How many students will receive the Youth Entrepreneurship Awards?
How are the applicants selected?
When are students selected/notified?
What qualities should be identified in an applicant?
How does a student win?
If awarded, how and when are awards issued?

 

Who is eligible to apply?
Applicants must meet of the following criteria:
  • High school seniors of participating high school districts.
  • Must be entering his or her freshman year at an accredited, two- or four-year university, college or vocational/technical institute for the next full academic year.
  • Must have an GPA of 3.0 or higher.
  • Must have parent’s signed consent to participate in the program
  • Must be able to attend consecutive days at their local selected University.
  • Must be able to attend the awards ceremony.
When can I apply?
  • Please check your application for dates.
How do I get an application?
What are the details of the awards?
  • One First Place Entrepreneurship Award is up to $1,000 plus an iPad tablet.
  • One Second Place Youth Entrepreneurship Award will be issued for up to $500 plus an iPad tablet.
  • One Third Place Youth Entrepreneurship Award will be issued for up to $250.
  • Up to Six YEPS business implementation awards conducted by San Diego Center for International Trade Development business implementation program.
  • All awards must be used in the preceding academic year.
  • The scholarships will be provided to students to utilize for tuition, fees, books, and supplies required for course load.
  • Funds must be used for full-time enrollment at accredited, two or four-year colleges/universities in the United States.
  • A student may transfer from one academic institution to another and retain the award.
What are the selection criteria?
  • An impartial selection committees will be responsible for selecting the participants.
  • Regional Diversity within Low Income Neighborhoods will be considered.
  • In evaluating applicants as participants, each applicant’s extracurricular activities, leadership activities, and small business experience will be evaluated.
  • In selecting participants, the Selection Committee will consider each applicant’s academic record, extracurricular activities, leadership activities, and essay content. Evidence of entrepreneurial spirit and initiative will be heavily weighted.
  • Decisions of the selection committees are final and are not subject to appeal.
How do I know if I was selected?
  • You will be emailed with instructions and will require to acknowledge the acceptance in participation. Note: Information regarding how to contact the Youth Entrepreneurship Program member and further details will be provided with participants notification.
How do I make changes to my application?
  • Once your application has been submitted you many not make any changes.
What are my responsibilities as an award recipient?
  • Enroll as an undergraduate in the fall of the year in which the scholarships are awarded.
  • Continue in school the entire academic year without interruption unless approved by scholarship sponsor.
  • Deliver your scholarship check(s) to the proper office at your institution.
  • Keep in touch with the Southwestern College Center for International Trade Development YEP program administrator one time per semester.
How and when are checks issued?
  • Checks will be mailed to each recipient’s mailing address.
  • Checks will be made payable to the student.
  • Checks will be issued in first August of the year or preceding year in which the scholarships are awarded.
How and when will I receive notification?
  • Participant notifications are sent approximately one week past a deadline.
  • Participant notifications will be sent by e-mail. Note: Be certain to provide us with your most current e-mail address.
  • Winner notifications will be made at the Awards Even.
Are scholarships taxable?
  • In the United States, scholarship funds used exclusively for the payment of tuition or textbooks are normally not taxable. The scholarship recipient is responsible for taxes, if any, that may be assessed against your scholarship award. We recommend consulting your tax adviser for more guidance.
Who is eligible to receive the awards?
  • Young Entrepreneurship Awards are open to any graduating high school senior. Additionally, the student must enter their freshman year at an accredited two- or four-year university, college or vocational/technical institute during the Fall of the preceding year. Children of employees committees or volunteers associated with this event are not eligible to win awards.
How do students apply for the Young Entrepreneur Awards?
  • Students are encouraged to apply online at http://www.cafoundationfund.org/YEPS.
What happens after the application deadline?
  • A selection committee will pick a group of qualified participants. These participants will be informed of their selection via email.
What is required of a participant?
  • Once a participant is notified, they will have one week, to confirm their participation. Participants MUST obtain the signed parent consent to participate in the contest.
How many students will receive the Youth Entrepreneurship Awards?
  • Approximately six students will receive one of the Youth Entrepreneurship Awards. All students will receive a certificate of completion.
How are the applicants selected?
  • The Youth Entrepreneurship Program Synthesized is developed and administered by the California Foundation Fund. This assures complete impartiality in the selection of recipients and maintains a high level of professionalism in dealing with students, parents, high schools and colleges. The selection committee will consider the applicants’ academic records, extracurricular activities, leadership, and character. Evidence of entrepreneurial spirit and initiative in running their business will be heavily weighted. Financial need is not a factor.
When are students selected/notified?
  • A group of 30 participants will be selected to accept and submit their required materials. Participants will be notified of their selection no earlier than two weeks prior to the competition.
What qualities should be identified in an applicant?
  • The competition’s goal is to identify bright, articulate, enterprising students who are interested in continuing their education and further developing their interests/skills in running their own business. Our hope is that these students might consider becoming future leaders, and using their entrepreneurial skills to promote the benefits of the free enterprise system.
How does a student win?
  • An independent judging panel, comprised of community and business leaders, will be responsible for judging the student’s business plans and selecting the contest winners.
If awarded, how and when are awards issued?
  • Scholarship checks are issued on or around August 1st. All other awards will be given at the closing ceremony.