Expanding Entrepreneurship to Santa Monica Youth

by in Economics on October 19, 2020

Youthful Savings, the parent company of Youthful Savings Marketplace, is excited to work with Civic Wellbeing Partners (CWP) in order to expand entrepreneurship in the city of Santa Monica. As part of CWP’s recent Microgrant awards, Youthful Savings will create a custom program where five lucky youth will receive access to The Learning Marketplace, capital to start a business and the ability to be featured on our youth marketplace so their business can succeed.

“As a former Santa Monica resident, the city is special in my heart. With the recent pandemic and economic downturn, we are excited to run a pilot that can prove our model of economic empowerment through youth. We will be able to increase the gross domestic product and sales tax revenue of Santa Monica through youth business owners and increase the civic engagement of Santa Monica.”

-Somya Munjal, CEO of Youthful Savings

Youthful Savings has an expansive network of youth that have already created businesses and are thriving on the marketplace. Each youth is a part of an online community via Slack and often lead forums on topics such as financial wellness and politics. Youthful Savings Marketplace is much more than just starting a business but a way for youth to engage with each other and eventually create an ecosystem that is all their own.

Youthful Savings is currently accepting applications for their pilot program at Virginia Park Teen Center in the historically underserved Pico Neighborhood. Interested applicaints can fill out the form HERE. The pilot will kick off December 1, 2020 and will include weekly online meetings and self directed learning.


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