Overview of NY YEC

Entrepreneurship is vital in fostering economic growth and bolstering job creation. Start-up companies and the entrepreneurs who create them will aid in economic recovery in the United States. According to Inventive Billion Dollar Firms, if 30-60 more new billion dollar firms were launched each year, it would permanently increase the U.S. GDP by one percentage point. Successful entrepreneurs and their corporate colleagues have an inherent responsibility to support the endeavors of future entrepreneurs in turn promoting innovation and stimulating job creation.

FrontStreet Facility Solutions was started as Empire Facilities Management Group, Inc. in 2003 (Empire) by co-founders Joseph Scaretta and Moses Carrasco as well as then owner Robert A. Scaretta. They believed in providing support to young entrepreneurs through capital and mentorship. Being young entrepreneurs themselves, they sought to provide access to resources that were not necessarily made readily available as they launched Empire. In June 2012 they launched the first Long Island Young Entrepreneur Challenge (LI YEC), seeking to promote young entrepreneurs and foster economic development in Long Island, New York. In 2014, the challenge will be extended to entrepreneurs across New York for the first New York Young Entrepreneur Challenge.

In July 2012, Charter Facility Services Inc. acquired Empire, and then rebranded as FrontStreet Facility Solutions (FrontStreet). While the business name changed, the commitment to entrepreneurship remained the same. FrontStreet, in partnership with Sprint and Capital One Bank, is proud to support the New York Young Entrepreneur Challenge.

From October 22nd, 2013 to March 21st, 2014, individuals age 17-22 are invited to compete through one of two tracks: (1) Entrepreneur Track open to those who reside in the state of New York or (2) Student Track open to full-time undergraduate students who attend an accredited New York college or university. There will be start-up funding awarded, and winners will receive a full year of mentorship and a suite of business services.