A Woodmere man landed a spot as a finalist in the second annual Long Island Young Entrepreneur Challenge and will present a live business pitch on Thursday to a panel of judges at Capital One’s office in Melville.
Eric Forkosh, 20, applied to the challenge by detailing a business solution for a “comfortable, inconspicuous, wireless heart monitor,” according to a press release. The device “bridges the gap between current solutions, which [Forkosh] identifies as either bulky or uncomfortable, and utilizes mobile and web technology to record and transmit data for improved feedback to medical experts,” the release says.
“The challenge seemed like a great opportunity to raise the money and awareness to go to the next step of clinical trials,” Forkosh said of the experience. “I really look forward to the experience of the upcoming presentations.”
The challenge, sponsored by FrontStreet Facility Solutions Inc. in partnership with Capital One Bank, is open to young entrepreneurs ages 17 to 22 who live or go to college or university on Long Island. Winners will receive $10,000 in startup funding, mentorship from a Capital One Bank executive and other support to establish a business.
“At Capital One Bank, we want to help create jobs, grow small businesses and develop a strong workforce,” said Michael Minerva, senior vice president at Capital One Bank. “Supporting the efforts and development of young entrepreneurs is an important part of that because one small business plan can yield a thriving local business – creating jobs and strengthening the local community.”
Finalists will also hear from keynote speaker Peter Shankman, an angel investor and author of “Nice Companies Finish First: Why Cutthroat Management Is Over — and Collaboration Is In.”
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