-Students from Wayne Highlands, Western Wayne, Wallenpaupack, Carbondale and Delaware Valley School Districts attended an entrepreneurship workshop at Settler's Inn on Thursday.
The event is put on by EconomicsPennsylvania which is a nonprofit organization that brings financial literacy programs to schools throughout Pennsylvania. The Stock Market is one of its biggest.
"This is the first year we've held the Entrepreneurship Challenge in this area," said Bonnie Blair, assistant vice president and educational programs for EconomicsPennsylvania. "The program isn't just about going into business by themselves, but also working for other companies."
The event was sponsored by The Dime Bank and was supported by The Settler's Inn. The speaker was Robert Williams, professor and director of the center for economic education at Misericordia University.
"Students work in teams and they learn how to develop a business idea with what the product will be, where (location is key), who they are trying to market, and their competition," Blair said. "They are also learning about financing, such as expenses and income and the elevator speech, which is what they need to pitch an idea to investors."
On Feb. 25 the teams will present their plans at Honesdale High School to a panel of "investors," which will consist of local business people. Blair said it will run similar to the show, "Shark Tank." Prizes will be given out from EconomicsPennsylvania and The Dime Bank.
"They will be judged on the quality of the product and what would make it sell and more," said Blair.
She said she plans on doing more challenges in this area.
The next one will be on April 2 at Misericordia University.