In February of 2019, Forbix established a bond with the West Valley Boys and Girls Club’s Network for Teaching Entrepreneurship. This bond was supported by Forbix’s desire to make a positive difference in the local community and help mold young entrepreneurs. The Network For Teaching Entrepreneurs (NFTE) on the other hand is always happy to connect with local businesses to help further the business savvy skills of its young members.
On February 21, 2020, Forbix took part in another event at the West Valley Boys and Girls Club. Two members of NFTE were able to take part in a winter pitch competition for the grand prize of $1000 in seed money for their business.
Forbix sent over five professionals from their team to be on the panel of judges for the winter competition. Also on the panel of judges, was Ms. Kim Small the Regional Director for NFTE in the LA Metro areas. While the members were presenting their business pitches, the panel experts critiqued the contestants on five major categories. Problem/Opportunity in the marketplace, Value Proposition, Underlying Magic, Target Market and Cost Structure. After each of presentations, our judges presented follow up questions regarding the individual future business plans and expectations.
The contestant from Chatsworth High School and first place winner was Mohammed Zaman, the Founder and CEO of “Car Buddy”. A car maintenance app that sends you maintenance reminders as well as the cheapest location near you to get your maintenance done. And the member from Cleveland High School and second place winner was Efrain Salamanca, the founder and CEO of “Eco-Cycle”. A mobile bike shop that uses the salvageable parts of abandoned and unwanted bikes that would otherwise be thrown into our landfills, in order to create new and affordable bikes.
As the relationship between Forbix and NFTE continues, both aspire to be a source of support, inspiration, and information for up and coming young entrepreneurs in the local community.