By KRIS VENEZIA

STAFF WRITER

Fordham University is working with the New York City Economic Development Corporation (NYCEDC) to assist young entrepreneurs who are trying to get their start in the Big Apple.

By doing so, they established a program known as NYC Venture Fellows in 2010, announced by Mayor Michael Bloomberg to encourage entrepreneurship within a variety of professional fields.

The program consists of students with extraordinary achievement and leadership potential who founded or co-founded an innovative organization that could create sustainable employment in the city.

Selected students are provided with professional guidance from experts in their respective fields and attend a series of networking and training events with local and international entrepreneurs.

The 2013 class of small business owners, also known as NYC Venture Fellows, spans over six countries and represents various industries including biotechnology, education, real estate, fashion and financial services.

A four-person committee selected the NYC Venture Fellows for the 2013 year, including Rev. Joseph M. McShane, S.J., president of Fordham University. The group went through a wide variety of applicants before narrowing the list down to 30 young entrepreneurs from eight different international cities.

This group includes young entrepreneurs like Adam Braun, founder and CEO of Pencils for Promise, a nonprofit organization that aims to bring quality education to children in need around the world, Elias Roman, CEO of popular music streaming site Songza, Mei Shibata, co-founder and chief strategy officer of eco-friendly company ThinkEco, which created the Modlet (an energy-saving “modern electrical outlet) and many other young innovators.

“It goes without saying that it is an honor for Fordham to be chosen as the host institution for the program,” McShane said on the Venture Fellows website.  “The New York City Venture Fellows effort, like many great ideas, seemed obvious once it had been articulated. As an educator, it is abundantly clear to me that entrepreneurs need mentors — especially in New York, where the learning curve is steep, and the competition unrelenting. The program will not only benefit the venture fellows themselves, but will be the source of continuous revitalization for the city’s economy.”

Dr. Stephen Freedman, provost of Fordham University and a professor of ecology and evolutionary biology, said Fordham had a lot of involvement with the New York City Economic Development Corporation in putting this program together.

“We [Fordham University] engaged early on in what the program might look like and designed the program[…] and we designed a recruitment strategy,” Freedman said. “It was really a team effort.”

Freedman said one of the big challenges early on was setting up an initiative that could improve the small businesses involved.

“In the beginning, we [Fordham University] were developing a program that was new and needed to get a sense on how best the fellows could benefit from [the] mentor styles,” Freedman said.

Freedman also said the fellowship program looks for entrepreneurs that are interested in growing their brand.

“We [Venture Fellows Program] want people who are really looking to be more interconnected within the city but [also] regionally and internationally as well,” he said.

The NYC Venture Fellows receive advice and assistance from mentors who are executives at various national businesses, including IBM and FirstMark Capital. Each Venture Fellow also gets paired with a group of mentors that help the young business owners improve their company.

In a press release, New York City Mayor Michael Bloomberg said the Venture Fellows Program wants to give small business a chance to thrive.

“No matter the buzz or early accolades, the transition from promising young startup business to successful leading company can be extremely difficult,” Bloomberg said. “We want to make it easier for entrepreneurs to succeed, and when they do, we want them to succeed in New York City.”

The first events for the 2013 Venture Fellows begin next week. Over the course of the year the Fellows will participate in roundtable discussions with New York City’s industry leaders, network with entrepreneurs from around the world, attend cultural events like Broadway shows and museum tours and have access to industry events like the VentureForward Conference, the New York Tech Meetup and the World to NYC series.

Aaron Shapiro is CEO of HUGE and a mentor for the 2013 class of entrepreneurs. On Twitter, he said he can not wait to be part of the initiative.

“I’m looking forward to being a mentor for the… [New York City Venture Fellows] program,” Shapiro said.

In previous years, the program has produced NYC Venture Fellows including Naveen Selvadurai, who started Foursquare and Adam Green of Rocking the Boat, an organization that allows young people challenged by economic, educational, and social conditions to build boats and improve waterways.

Rameet Chawla is founder and CEO of Fueled, an iPhone app development agency and one of the businesses in the 2013 class of fellows. In a press release, he said he hopes the program can take his company to the next level.

“Our company is at a critical stage in development now,” Chawla said. “We have a target number of employees of 90 by the end of the year.”

Rachel Shechtman is founder of Story, a Manhattan fashion boutique that changes its theme every four to eight weeks. On Twitter, she said it was exciting to be chosen as part of the program.

“[I’m] honored to be a 2013 Venture Fellow,” Shechtman said.

According to the official website, NYCEDC “is the city’s primary engine for economic development charged with leveraging the city’s assets to drive growth, create jobs and improve quality of life. [NYCEDC] is dedicated to investing in growth and capital but it’[s not only economic, it’s also human growth and capital — New York and New Yorkers realizing a rich, rewarding and vibrant future.”

NYCEDC is also committed to developing infrastructure for young entrepreneurs to develop across industries and various stages of business by providing access to information, training and innovative competitions.

Students who are a part of the NYC Venture Fellows are invited to many networking events, such as CEO roundtable discussions and kick-off receptions. The groups also helps businesses  get a jump start by offering opportuntities and resources through the program.

“Being a NYC Venture Fellow has been very helpful through networking with fellow entrepreneurs at similar stages,” Philip James, co-founder & president of Venture Fellows said on their website. “Mentorship as well — having an engaged mentor who runs a large — but not too large — business has been a huge gift.”

—Contributed reporting Katie Meyer and Girish Swaminath