NEW YORK (FOX19) - A Cincinnati boy is the grand prize winner in Warren Buffett's 'Grow Your Own Business Challenge.'
Matthew Meyer, 8 from Cincinnati, OH is the Grand Prize Individual Winner and Kennedy Sabharwal, Spencer Sabharwal and Sawyer Beeler, from Lexington, KY are the Team Grand Prize Winners in the national competition.
Chosen from almost 4,000 kids ages 7-16, these two winning ideas showed the creativity, entrepreneurship and inventiveness that the panel of judges was looking for.
Five individuals and three team finalists from around the country flew to Omaha, Neb. on May 20 for the opportunity to present their business concepts to Mr. Buffett and a panel of judges. All entries were evaluated based on key criteria, including: uniqueness of concept, depth and description of concept and feasibility of concept execution. The grand prize winning team members and winning individual will each receive $5,000. The runners up will receive $500. All finalists nominated a teacher or mentor who was inspirational to join them in Omaha. The teachers of the Grand Prize Winners will also receive $1,000.
Matthew's winning idea is Right-Writer. The Right-Writer is a wrist band with an elastic band finger holder that holds your finger in place so you can write neatly.
"Today is the best day of my life," said Matthew. "It was the most amazing experience and I will never forget it."
"Like last year, I was impressed at the insightfulness and creativity that these kids showed in their entries," said Warren Buffett, CEO Berkshire Hathaway. ""Programs like Secret Millionaires Club and the "Grow your Own Business Challenge" give parents and teachers the ability to help empower our children so that they may achieve their dreams. The lessons and habits that they learn now will last them a lifetime."
The Secret Millionaires Club is an animated series created by A2 Entertainment featuring Warren Buffett as a mentor to a group of kids who learn practical financial and entrepreneurial lessons through entertaining business adventures. The series airs on Hub Network and is available on DVD from Gaiam. Webisodes and additional content can be found at www.smckids.com <http://www.smckids.com/> .
The "Grow Your Own Business Challenge" is a part of the Secret Millionaires Club Learn and Earn financial literacy promotion which is sponsored exclusively by the Fairholme Foundation and reaches over 100,000 classrooms and youth organizations with free tools and lessons for teaching good financial habits to youth.