Tough economy fosters inspiraton in new entrepreneurs

When times get tough and the economy forces people out of their jobs, entrepreneurship is born. Unable to find work, many new graduates and experienced workers are turning their thoughts away from a regular paycheck and into creative business ideas. It is a cycle that has been repeated often throughout American history, and is finding new light in today’s economy. Take the story of Alex Aldon, 24, who applied his Biology degree from Duke University into creating a unique new business – office and home jellyfish tanks. After being laid off and unable to find new work, he applied his creativity, unique knowledge and drive into a business that has begun to take notice. In fact, his story found its way onto the front page of the New York Times.

In an apartment he shares here with six roommates, Mr. Andon started a business in September building jellyfish aquariums, capitalizing on new technology that helps the fragile creatures survive in captivity. He has sold three tanks, one for $25,000 to a restaurant, and is starting a Web site to sell desktop versions for $350. “I keep getting stung,” he said. And his crowded home office is filled with beakers and test tubes of jellyfish food. “But it beats looking for work. I hate looking for work.” Plenty of other laid-off workers across the country, burned out by a merciless job market, are building business plans instead of sending out résumés. For these people, recession has become the mother of invention.

This is the very entrepreneurship that we are looking to foster in our YOUTHpreneurs. In a struggling economy, it is more important now than ever for our children to learn to ignite their entrepreneurial spirit. Learn more about how we’re advancing the dream of entrepreneurship for our children at YOUTHpreneur.