A program to support talented inner-city entrepreneurs celebrates business leaders of the future.

By Julie Moline

Being the CEO of a fledgling company is tough under any circumstances. Being the CEO of a fledgling company in the inner city adds another degree of difficulty. Add youth and inexperience, and success is even more unlikely. How many teens have access to capital, a network of experienced colleagues and contacts, much less an MBA?

Which is why the 2006 Growing Up CEO winners are so remarkable-and so inspirational. A joint venture between the Initiative for a Competitive Inner City (ICIC) and the Merrill Lynch Foundation, the Growing UP CEO program was designed to honor and support a talented collection of inner-city entrepreneurs, many of whom are still in high school and all of whom are younger than 21.

Now in its second year, the program identifies 25 to 30 entrepreneurs who operate successful companies, no matter what the size or type. Winners are chosen from a pool of more than 100 nominees made by directors of national youth programs, including the National Foundation for Teaching Entrepreneurship, Junior Achievement, the Future Business Leaders of America, Build, and Diamonds in the Rough.

The honorees on the 2006 list range in age from 14 to 20, with an average age of 17. The winners, from 10 states and 14 cities across the U.S., have founded and manage a variety of businesses-clothing and jewelry design and manufacturing, computer software, dance, salon services, academic tutoring, pet sitting, business services (including a temp service for a teenage labor force), and website design.

As part of the award, the winners are flown to Boston to attend the Inner City 100 Summit, co-sponsored by ICIC and Inc. magazine, which honors the fastest-growing inner-city businesses in the country. Awardees are also invited to the CEO Forum at Harvard Business School, where there are networking and tooling sessions with Harvard Business School professors and other experts. They are invited to set up a display for their business product or service, and attend the Inner City 100 Awards Dinner, which gives them a chance to mingle with entrepreneurs who, like them, built successful inner-city businesses through vision, moxie, and muscle.

"Networking at the Inner City 100 Summit and at the CEO Forum connects the young entrepreneurs-who are the next generation of business leaders-with a network of business leaders who are willing to work with them into the future as both individuals and entrepreneurs," said Dorothy Terrell, president and CEO of ICIC. "The networking, by the way, goes both ways. The kids bring a fresh perspective and plenty of ideas to the Summit. They're also an entrée to the next new thing in fashion, entertainment, and lifestyles."

The program continues beyond the two-day summit with a mentorship network made up of Inner City 100 winners who are available year-round, an alumni network, online tutorials and blogs, and regional Growing Up CEO events.

This year also marks the inaugural International Growing Up CEO program, which brings three international inner-city business owners younger than 21 to the event to celebrate international business ownership and diversity.

Growing Up CEO is currently accepting nominations for the 2007 list. For information,visit www.icic.org.