An exciting new opportunity for young entrepreneurs has emerged today with the launch of the Formidable Fund, a nonprofit founded by Rajesh Shah, President of MSI and Anand Sanwal, CEO of CB Insights.

The fund, launched with an initial capital of $500,000, is designed to empower entrepreneurial middle and high school students by offering $1,000 grants to those who show early promise in business ventures – no strings attached. Whether students are walking dogs, mowing lawns, designing websites, or creating apps, this initiative aims to encourage and support their ambitions.

Who is Rajesh Shah?

Rajesh Shah, a business leader and philanthropist, has long been committed to fostering innovation and entrepreneurship. As the President of MSI, a leading global supplier of premium surfaces such as countertops, tiles, and flooring, Shah has guided the company to tremendous success through his visionary leadership. Now, with the creation of the Formidable Fund, Shah is turning his attention toward nurturing the entrepreneurial spirit in the next generation.

Shah’s journey in the business world has been marked by a deep understanding of innovation and scaling operations. Under his leadership, MSI has become a household name, with products in homes and businesses worldwide. His passion for entrepreneurship, however, isn’t just confined to his business ventures; it extends into his community involvement, as demonstrated by the launch of this new nonprofit.

Who is Anand Sanwal?

Anand Sanwal is the co-founder and CEO of CB Insights, a leading market intelligence platform that provides insights on technology trends, venture capital, and startups. Under his leadership, CB Insights has become a go-to source for data-driven analysis used by top companies and investors to navigate the rapidly changing tech landscape. Sanwal is known for his candid and often humorous approach to business, which has resonated with both clients and the media. Before starting CB Insights, he worked at American Express in M&A and venture investing, further solidifying his expertise in the financial and tech sectors.

The Vision Behind Formidable Fund

The Formidable Fund was created to address a crucial gap in resources for young entrepreneurs. “We want to support young people who have the passion and creativity to build something of their own,” says Shah. “These grants are designed to give them a boost of confidence and resources at a time when they’re just beginning to dream about what’s possible.”

Sanwal added “We’re not taking equity. We’re not offering loans. This isn’t venture capital. This is a $1000 grant. No strings attached. Call it inspiration capital.”

While many established entrepreneurs have access to venture capital, mentorship, and networks, budding business minds in middle and high school are often left out of these ecosystems. The Formidable Fund seeks to change that by offering financial backing with no expectations in return.

“Our Mission: Inspire youth entrepreneurship. Celebrate the ambitious. Champion learning by doing, not just listening. Connect formidable minds to their tribe”, Sanwal chimes in.

“It’s a simple concept – $1,000 to help spark a student’s idea or grow their existing business. The goal is to encourage them to keep going, to experiment, and to learn”, Shah explains.

How It Works

The application process is straightforward and open to any student across the United States, from middle school to high school. Students can be involved in any type of business—whether it’s something small and local, like lawn care services, or more tech-driven, like developing an app or designing graphics. The fund welcomes all forms of entrepreneurship, acknowledging that innovation takes many forms.

There are no complicated requirements or conditions attached to the grants. The $1,000 can be used however the student sees fit to support their business venture – purchasing supplies, expanding their marketing efforts, or investing in new tools and equipment.

Impact on Youth Entrepreneurs

One of the most exciting aspects of the Formidable Fund is the potential impact it can have on the recipients. For many young entrepreneurs, $1,000 is more than just a financial boost; it’s a vote of confidence in their abilities. Receiving this grant can provide young business owners with the resources they need to test new ideas, grow their operations, and most importantly, learn through experience.

Moreover, by offering financial support early on, the Formidable Fund is helping to create a more inclusive entrepreneurial landscape. Many students from underrepresented or underserved communities might have the talent and drive to start businesses but lack access to financial support. With these grants, the hope is that more young people will have the opportunity to take their ideas from concept to reality.

Why Support Young Entrepreneurs?

The Formidable Fund is part of a broader movement recognizing the importance of entrepreneurship from a young age. As the global economy continues to shift, innovation and creativity are becoming more valuable than ever. By nurturing these qualities in students, initiatives like the Formidable Fund can play a key role in preparing the next generation for the challenges and opportunities of the future.

Moreover, entrepreneurship teaches young people crucial life skills – adaptability, leadership, problem-solving, and resilience. These skills are not only valuable in the world of business but are essential for success in any field. Through hands-on experience in running a business, students can gain a practical understanding of how to bring an idea to life and manage its challenges along the way.

Get Involved and Share

If you know a young person who is already exploring entrepreneurship or has a passion for starting something of their own, this is an opportunity that could make a significant difference in their journey. The Formidable Fund is open to applicants nationwide, and the application process is designed to be simple and accessible.

Share this initiative widely – with schools, community networks, or families who might know an entrepreneurial student in need of support. By spreading the word, you could help spark the next great business idea and encourage young people to follow their dreams.

For more information on the Formidable Fund, how students can apply, and to donate, click here. Let’s support the entrepreneurs of tomorrow, today!