[Congressional Record Volume 141, Number 96 (Tuesday, June 13, 1995)]
[House]
[Pages H5892-H5894]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




  THE NATIONAL FOUNDATION FOR TEACHING ENTREPRENEURSHIP AND ITS YOUNG 
                         ENTREPRENEURS PROGRAM

  The SPEAKER pro tempore. Under a previous order of the House, the 
gentleman from Kansas [Mr. Tiahrt] is recognized for 5 minutes.
  Mr. TIAHRT. Mr. Speaker, I rise today to talk about solving our 
problems. So many times on the floor of the House Members will come 
down and complain about the collapse of civil society, and pressing 
social concerns.
  America does indeed have serious problems, and its time we came 
together and addressed them. Let's not avoid the tough talk or the 
tough decisions.
  However, something great occurred last November. New people were 
elected to Congress. People who think that the answers to our problems 
don't come from the floor of the House but from the hearts and minds of 
the people who sent us here.
  And one of the truly unique ideas which is underway to solve, some of 
our problems, is the National Foundation for Teaching
 Entrepreneurship, or NFTE [``Nifty''], Its Young Entrepreneurs Program 
which is now located in 13 cities. This program teaches urban youth how 
to create their own business, but NFTE is not just about how to do 
things. NFTE is about actually doing things. Thousands of urban youth 
have been shown how to write a business plan, get funding, and create 
new and needed products.

  Tonight, I salute Charles and Liz Koch, who are residents of Wichita, 
[[Page H5893]] Kansas, and we are proud of these native Kansans. They 
are individuals who refuse to throw their hands up, and walk away from 
inner-city problems. It would be easy for them to simply turn their 
heads. Instead they have used their resources, to bring the NFTE 
program to Wichita. Choosing Wichita for an entrepreneurship program 
makes great sense to those familiar with the city. It is the birthplace 
of many entrepreneurial success stories including, Beech, Cessna, 
Learjet, Coleman, Pizza Hut, Rent-a-Center, and Koch Industries.
  Recently, David Koch, Executive Vice President of Koch Industries and 
chairman of the David H. Koch Charitable Foundation, brought the spirit 
of entrepreneurialism to a place where it is needed, more than any 
other place in America: the District of Columbia. The Young 
Entrepreneurs of Washington, DC program is in 10 of the District's 
public schools. Mr. Koch's philosophy is predicated on the strong 
belief that everyone, has the ability to prosper and succeed in a 
market based system, with proper training and support.
  The mission of the Young Entrepreneurs is to enable, urban youth to 
break free of the cycle of poverty, by providing them with 
entrepreneurial literacy, academic training, hands on experience, and a 
means of wealth creation. This program is not a welfare project. This 
program relies on the youth's mental toughness, willingness to accept 
risk, resiliency and their desire to succeed in life. And here's the 
punch line: this program relies entirely on private funding from 
individuals like David Koch and not on the Federal Government.
  This program is exactly the type of solution we need for our current 
problems.
  Mr. Koch addressed 300 community members including 110 graduating 
students of the Young Entrepreneurs of Washington, DC, program. I 
commend David Koch for his contribution and continued enthusiasm to 
help urban youth.
  I ask unanimous consent that Mr. Koch's remarks at this graduation 
and a recent article from the Washington Times, which describes NFTE's 
mission, be printed in the Congressional Record.
                NFTE COMMENCEMENT ADDRESS, MAY 25, 1995

                            [By David Koch]

       Today is a special day not only for the graduates of the 
     young entrepreneurs of Washington, D.C. program and their 
     families, but for all of the District of Columbia. As you 
     young people continue to use the skills you have acquired as 
     young entrepreneurs, you will begin generating wealth in your 
     lives and in your communities. Making all our futures 
     brighter.
       Graduates, I understand the demands of the NFTE curriculum 
     and the effort it has required from each of you. You have 
     persevered to meet those demands. Through your hard work, you 
     have demonstrated your commitment to the idea that you can 
     control your destiny, that you can be the source of your own 
     success.
       Success, I have come to understand, is determined by how 
     well we learn and use knowledge. But, success does not come 
     easy. As you strive towards your goals, there will be many 
     obstacles, some failures. In my own experience, I have found 
     three values to be particularly useful in overcoming barriers 
     to personal and business success. These values are--humility, 
     intellectual honesty, and passion.
       Humility is the foundation for the search for development 
     and use of knowledge. To be humble we must seek and remain 
     open to new ideas and to constructive criticism. As 
     entrepreneurs, you must always be open to new ideas and to 
     the risk of venturing into unfamiliar territory. A humble 
     person is not timid, but is confident in their ability 
     without being boastful or defensive. When people are 
     arrogant, thinking they know all there is to know, they stop 
     learning. Without humility, people often fail to recognize 
     those areas in which they can improve themselves, therefore 
     missing out on making their greatest contribution to society.
       Equally important is to be intellectually honest. 
     Intellectually honest people are truthful, trustworthy, 
     forthright; they do not, and cannot, fool themselves or 
     others. An intellectually honest person searches for evidence 
     that
      contradicts their position with as much vigor as they search 
     for evidence that confirms their position. An 
     intellectually honest person admits what they do not know 
     and acknowledges when they make mistakes. They see a 
     situation for what it really is, not what they wish it 
     would be.
       Regina Jackson, a NFTE alumnus, exemplifies the values of 
     humility and intellectual honesty. Regina has a satisfaction 
     guaranteed policy for her jewelry business. If her product 
     breaks or is flawed in any way, she encourages her customers 
     to bring the item back for replacement. Regina says this is 
     important, because it is the only way she will know that 
     something is wrong, and that she cannot correct a problem 
     unless she knows about it. Because Regina is open to 
     constructive criticism, and is willing to learn from others, 
     her customers trust her and there is a high demand for her 
     jewelry.
       Finally, passion and commitment for work will result in a 
     greater enthusiasm for all aspects of life. To be passionate 
     we must be enthusiastic about our ultimate goals, and eager 
     for their accomplishment. A passionate person courageously 
     takes risks, pursues opportunities, and is persistent when 
     faced with obstacles.
       For example Greg Blair another NFTE alumnus, has collected 
     sports cards since he was 10 years old. He is an avid fan, 
     and is most proud of his Michael Jordan retirement card. It 
     was natural and fun for Greg to turn his hobby into a 
     business; he will be a better businessman due to his passion 
     and commitment for work. Any businessman would search hard 
     for good deals on great sports cards simply because of their 
     potential retail value. But, Greg will be more successful at 
     such a search, because of his enthusiasm for, and knowledge 
     of the game.
       Graduates, remember this: You are the driving force behind 
     your destiny and when you embrace the values of humility, 
     intellectual honesty, and passion, you can, and will, advance 
     your success.
       Take pride in your achievements and take satisfaction in 
     your ability to affect the course of your life.
       I am proud of all of you and wish you the best of luck. 
     Thank you.
   Ideas From Creative Young Minds Nurtured Into Fledgling Businesses

                         [By Jacqueline Gaulin]

       The only male role models Dwayne Prince recalls as a child 
     were in jail. Today, the 18-year-old entrepreneur considers 
     himself a role model for younger people.
       Now a senior at Washington's Roosevelt High School, Mr. 
     Prince turned his artistic talents into a small business with 
     help from the National Foundation for Teaching 
     Entrepreneurship (NFTE).
       He was one of the top 12 D.C. students awarded venture 
     capital grants last week from NFTE's Young Entrepreneurs of 
     Washington program.
       He said he wants to tell other kids that if they ``continue 
     to put in the effort to reach their dreams, anything can 
     happen.'' He added: ``All the odds were against me, too.''
       NFTE (pronounced ``nifty'') is the vision of Steve 
     Mariotti, a former New York businessman who said he decided 
     to teach young people to run a business after he was mugged 
     in 1981 by five armed youths.
       Formed in 1987 in New York, NFTE is now in 13 U.S. cities. 
     The project expanded to Washington in February 1994 through a 
     partnership with the David H. Koch Charitable Foundation.
       The Koch Foundation provided a two-year, $1 million grant 
     for the D.C. program, which held an awards dinner last week 
     to bestow its third group of venture capital grants to 12 
     young entrepreneurs.
       The grants range from $300 to $1,000 and are intended to 
     get the businesses up and running.
       Local businesspeople evaluated the business plans submitted 
     by D.C. student finalists, who were selected by their 
     teachers to compete for the grants.
       So far, nearly 300 have completed the intensive, 80-hour 
     ``mini-MBA'' program here.
       ``And more importantly, they have taken charge of their own 
     lives and their own destinies,'' said David H. Koch, 
     executive vice president of Koch Industries Inc., a Wichita, 
     Kan., energy company.
       However, most students don't know anything about business, 
     said Marilynn Hollis, a D.C. teacher who handles the NFTE 
     course at Roosevelt High School. She said the program gives 
     young people an option they didn't know they could have.
       ``I feel good about myself,'' gushed Alicia Rodney, a soft-
     spoken junior at Roosevelt and a graduate of NFTE's second 
     session in Washington.
       Looking proudly at her handmade pillows and T-shirts, which 
     she sells as ``Alicia's Creations,'' Miss Rodney said the 
     NFTE program helped her get goals, manage money and accept 
     responsibility for the choices she makes in life.
       And while some critics may call NFTE's vision unrealistic 
     or idealistic, students like Dwayne Prince attest to the 
     program's benefits.
       ``Da World in Mine'' is the slogan for his graphic design 
     and T-shirt company, ``Image the World Tee's,'' which won top 
     honors and a $1,000 grant.
       But the name represents more than a business idea for a 
     young man who said he lived in seven different households 
     before he was 14. He said the slogan represents his positive 
     outlook on life.
       ``Teachers used to say I had a bad attitude,'' he 
     explained. ``I didn't even want to do the classroom part of 
     NFTE,'' he recalled. ``But after I started the program, I 
     found it interesting and realized I could actually set the T-
     shirts I designed,'' he said.
       He is the founder of ``East-Side Kutz,'' a mobile hair 
     cuttery. He exudes the savvy business style of a fortune 500 
     executive and extends a firm and confident hand. It's hard to 
     believe he's only 16 years old.
       ``The business keeps my head straight and I have learned 
     how to be financially stable,'' he said. He is already 
     planning to further his business education at Babson College 
     in Wellesley, Mass. [[Page H5894]] 
       Other graduates continue to hone their business skills 
     through NFTE's follow-up program in the participating 
     schools, which sponsor an entrepreneurs club and a school 
     store.
       Students can also call NFTE for legal, accounting or other 
     business advice.
       The follow-up program has helped Regina Jackson, 13, find 
     the best way to keep her costs low. The 13-year-old jewelry 
     designer said she can double her profits by buying wholesale 
     beads and materials for her original pieces.
       Her grandmother, Mary Jackson, said NFTE taught her 
     granddaughter independence and how to handle money. ``She 
     even helped her uncle write a business plan for his car 
     wash,'' Mrs. Jackson said.

     

                          ____________________