The city of Little Rock has developed a plan to prepare young minds to become business leaders within the community.
The Spark! Tank Youth Entrepreneurship Program is a business competition designed by the city of Little Rock’s Community Program and Junior Achievement. It includes a healthy dose of competition and is part of the city of Little Rock’s Youth Master Plan, which was created to help the city’s youth become leaders in business.
The Spark! Tank competition is designed to nurture student’s leadership and business skills while connecting them with mentors in the Little Rock Small Business Office. Prizes are awarded to the top three winners, and the first place winner is awarded the opportunity to make their business into a reality.
The competition is similar to the popular ABC show “Shark Tank,” with participants competing against each other during the spring and summer to see who can design the best business plan.
Currently, Spark! Tank is used as an in-class program. It was launched in 2015 for Little Rock Central High School and Parkview Magnet High School. At the end of the first cycle, six teams presented plans to judges. The first place winners receive the opportunity to work with the city of Little Rock’s Small Business Development Office.
While the program is no doubt a fun project for kids to work on, it also serves a greater purpose in preparing young people to become business leaders in the city.
Little Rock
Population: 198,541
Mayor: Mark Stodola
County: Pulaski
Region: Central
Did You Know?
In 1722, the French explorer, Bernard de LaHarpe sailed up the Arkansas River and upon sighting the first rock bluff since leaving the Mississippi River, he called it “La Petit Roche,” the Little Rock. The city’s namesake is located at the north end of Rock Street overlooking the river and is part of Breckling Riverfront Park.
Business ideas created by Little Rock youth are diverse in nature. Ideas generated by students in 2017 included an eco-bike design, a hairstylist business called Colored Roots and a pet care business, Paws Therapy.
Since the first cycle in 2015, Spark! Tank has grown and is now being implemented at Conway High School after success at Little Rock’s Central and Parkview high schools.
Winners also receive cash prizes — $1,500 for first place, $1,000 for second place and $500 for third place.
While the program is still in its early stages, city officials are confident Spark! Tank will yield positive results by giving high school students the ability to flex their business and leadership muscles and learn how to collaborate and foster meaningful connections with mentors — all skills that will help students in their professional careers to come.
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