If you’re a Washington D.C. high school student looking to start or grow your own business, a new competition is seeking to reward your ideas.

The 2012 Perennial Youth Business Competition will grant 10 "emerging entrepreneurs" $1,000 of seed money to help make their dreams of owning their own business a reality. Applicants are asked to describe their product or service and target customers and to explain how their company differs from other competitors and describe their day-to-day responsibilities in the business by the May 11 deadline.

In late May, 20 applicants will be invited to participate in the competition’s semifinals, where they will deliver a six-minute “elevator pitch” to a panel of judges from various industries. Winners, or winning teams, will be awarded $1,000 each at a banquet in late June. 

The competition is being hosted in honor of the 10^th Anniversary of Perennial, a Washington D.C. family of businesses, which includes a strategic advisory firm, a full-service sports agency and an entertainment law firm.

"Ten years ago I moved to Washington D.C. with little more than an idea, a Rolodex, a lot of determination, and a high school intern as my only employee,” Lamell McMorris, CEO of the firm, said. "As an entrepreneur, 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 10 D.C. youth a chance to do just that."

For competition details visit www.perennialsg.com/youthcompetition.
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(Photo: Courtesy perennialsg.com)