FOR IMMEDIATE RELEASE: February 27, 2007
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Visa USA and NFIB’s YEF Announce New Partnership
Visa Pledges $300,000 to Support NFIB Young Entrepreneur Foundation’s Initiatives
Washington, D.C., - February 26, 2006 - Visa USA announced today that they will distribute a $300,000 grant to the National Federation of Independent Business Young Entrepreneur Foundation to be a copresenting sponsor of NFIB YEF’s innovative educational programs that aim to ignite the entrepreneurial spirit in students nationwide.
NFIB President and CEO Todd Stottlemyer said the NFIB/Visa USA partnership is a solid step towards promoting careers in entrepreneurship to more high school and college aged students.
"The U.S. economy and our rapidly changing world of new ideas, products and technologies depend upon the entrepreneurial spirit flourishing in America," Stottlemyer said. "Having the support of Visa USA for NFIB's Young Entrepreneur Foundation initiatives is an acknowledgement that our programs truly do encourage students to become entrepreneurs. We are very excited about this partnership."
Three primary resources that Visa’s generous grant will sponsor include:
- The Entrepreneur-in-the-Classroom program (EITC) – a three-module curriculum designed to bring real life stories of entrepreneurship into the classroom. The program enables students to learn first-hand about the rewards, risks and opportunities of operating a small business.
- Take Time to Teach (T3) Mentoring – a program designed to familiarize teachers with the subjects of small business and entrepreneurship. NFIB-member entrepreneurs serve as mentors to educators and offer real-world advice and expertise on starting and running a business. This program supports the EITC curriculum.
- Johnny Money: The Online Game – the third integral component of the EITC programs enhances students’ exploration of the risks and rewards of small-business ownership. The game will be used to reinforce lessons learned through the EITC curriculum by simulating the day-to-day responsibilities of a small business.
"Encouraging America's youth to see the importance of entrepreneurship is incredibly important to Visa," said Rhonda Bentz, vice president, Visa USA. "One of the best ways to inspire our youth to consider careers as entrepreneurs is to introduce the skills needed to succeed at an early age. To that end, Visa is thrilled to be providing such valuable and accessible resources to educators through the Entrepreneur-in-the-Classroom programs as we work together with the NFIB Young Entrepreneur Foundation to ignite interest in entrepreneurship."
Additionally, Visa USA has agreed to again cobrand the top five scholarship awards to young entrepreneurs distributed though NFIB YEF's Young Entrepreneur Scholarship Awards Program. In June 2007, one $10,000 NFIB/Visa USA Young Entrepreneur Award, four $5,000 NFIB/Visa USA Young Entrepreneur Awards, and 35 $1,000 NFIB/Visa USA Young Entrepreneur Awards will be announced. This is the fourth straight year Visa USA has been the primary corporate sponsor of the scholarship program.
To learn more about NFIB's Young Entrepreneur Foundation please visit www.nfib.com/yef
About NFIB YEF
The NFIB Young Entrepreneur Foundation is a 501(c)(3) organization promoting the importance of small business and free enterprise to the nation’s youth. More information is available at www.NFIB.com/YEF.The Foundation is associated with the National Federation of Independent Business; NFIB is the nation’s leading small-business advocacy association, with offices in Washington, D.C. and all 50 state capitals. Founded in 1943 as a nonprofit, nonpartisan organization, NFIB gives small- and independent-business owners a voice in shaping the public policy issues that affect their business. NFIB’s powerful network of grassroots activists send their views directly to state and federal lawmakers through our unique member-only ballot, thus playing a critical role in supporting America’s free enterprise system.
About Visa USA
Visa USA is the nation’s leading payment brand and largest payment system, enabling banks to provide their consumers and business customers with a wide variety of payment alternatives tailored to meet their evolving needs. Visa USA is committed to increasing the choice, convenience, acceptance and security of Visa payments for all stakeholders in the payment system - members, cardholders and merchants. Through its 13,432 member financial institutions, more than 510 million Visa-branded cards have been issued to cardholders in the United States. Last year, U.S.-based financial institutions relied on Visa’s processing system, VisaNet, to facilitate $1.6 trillion in transactions with unparalleled reliability.
For more information or to schedule an interview with a Visa USA spokesperson, please contact Steve Burke at (703) 683-5004 ext. 108, or firstname.lastname@example.org.
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