NextGen Young Entrepreneurs Program Gets Cash Infusion
David McKinnon, co-founder of ServiceBrands International, pledged a significant endowment to the IFA Educational Foundation, which will be used to bolster the coffers of the IFA’s NextGen In Franchising program that seeks to highlight and mentor a new generation of entrepreneurs and business leaders in franchising.
McKinnon is Managing Director of TriniD Ventures. Service Brands International which includes Molly Maid, Mr. Handyman, and ProTect Painters, with a combined $283 million in systemwide sales, was acquired in June by the Dwyer Group.
As discussed in our recent cover story—“How 6 hotshots aim to change the world”—NextGen is an incredible program that seeks to change the franchise industry’s reputation as the domain of older business people, while also actively supporting good ideas that come from young entrepreneurs all over the world.
Launched on September 3, the Educational Foundation will award all winners a trip to the International Franchise Association’s Annual Convention next February in San Antonio, participation in a year-round “accelerator” business development program with industry leaders and CEOs, and a complimentary IFA membership. The contest is open to entrepreneurs from 21 to 35 years old, in business for 1-5 years, with business concepts that have the potential to scale through franchising.
Last February the foundation recognized 50 winners of the first NextGen In Franchising Global Competition at the IFA’s Annual Convention in Las Vegas. Winners were selected from over 450 applicants from 44 countries.
“I am thrilled to be a part of NextGen and I am looking forward to the years ahead of helping young entrepreneurs achieve their dreams in franchising as I have,” said McKinnon.
“Since David McKinnon discovered the NextGen winners at the convention last year, he has been the most inspiring mentor. He has made it his mission to ensure NextGen can impact a lot of young entrepreneurs with great ideas for franchise businesses,” said Jennifer Kushell, CEO of YSN and producer of the NextGen campaign.
Education Foundation Chairman Doc Cohen, CFE, and CEO of DOC & Associates, announced the donation and appointed McKinnon to chair a new committee to guide expanding the exciting new program in the years ahead. McKinnon was elected Vice Chair of the EF Board of Trustees and was also elected to the IFA Board of Directors.
“We are very excited and grateful to have David’s financial support, but more importantly, his passion and creativity for our NextGen In Franchising initiative,” said Cohen.
The NextGen In Franchising Global Competition is now live, accepting applications through October 30, 2015 at www.nextgenfrachising.org from promising young startups with the potential to scale through the franchise business model. In addition, the top competition winner will receive the first David McKinnon Global Franchising Award.
The NextGen In Franchising initiative has received donations from major corporations, foundations and individuals including: The Stewart & Jane Bainum Fund; Stephen P. Joyce Fund; Choice Hotels Foundation; J. Willard and Alice S. Marriott Foundation; Tariq Farid, Edible Arrangements; Charlie Chase, FirstService Brands, Inc.; Aziz Hashim, NRD Holdings; Amit Kleinberger, Menchie’s Frozen Yogurt; Joe Bourdow, Valpak; Melanie Bergeron, Two Men & A Truck; Amit Pamecha, FranConnect; and Lawrence “Doc” Cohen, DOC & Associates.
For more information about NextGen In Franchising and the Global Contest visit -- http://nextgenfranchising.org.