Lt. Governor Matos, Citizens Award $14,000 in Scholarships to Rhode Island High School Students

“Over 50% of business owners in our state are at or approaching retirement age. To maintain Rhode Island’s strong small business culture, we must raise and empower a new wave of young business owners. These scholarships are an investment in some of our state’s brightest young future business owners,” said Lieutenant Governor Matos. “I am grateful to Citizens, Millennial RI, and our other statewide partners for helping us keep young entrepreneurs encouraged and engaged, and I am so proud of every student that participated in today’s competition!”

Each year, dozens of high school students submit their business ideas to the Lieutenant Governor’s Entrepreneurship Challenge. Five teams are selected to present their ideas to a panel of judges in a live pitch competition. The final results of this year’s Lieutenant Governor’s Entrepreneurship Challenge are:

1st Place, $5,000: Jae’lee Reyes of West Warwick for “DriveSafeED,” a virtual reality driving simulator that would train students on how to react in dangerous situations.

2nd Place, $4,000: Segev Hadar and Jacob Cheshier of Cranston for “GreenCycleRI,” a food waste and organics composting pick-up service.

3rd Place, $2,500: Domenic Memoli of Warwick for “Mac Shack,” a food truck serving customizable macaroni and cheese dishes.

4th Place, $1,500: Tristan Krause and Rio Vieira Spears of Jamestown for “Silent Stride,” a noise-dampening shoe insole to support students with nervous disorders.

5th Place, $1,000: Echo Esposito of Scituate for “Novella,” a web-based book marketplace for authors to pitch book proposals.

“Citizens is proud to be the presenting sponsor of this program and to prepare Rhode Island’s students to be lifelong learners,” said Keith Kelly, Citizens Rhode Island President. “Citizens is always looking for fresh ideas and new perspectives, and we found it today in the participants in the Lieutenant Governor’s Entrepreneurship Challenge.”

“Since the inception of the Lieutenant Governor’s Entrepreneurship Challenge, Millennial RI has helped connect aspiring high schoolers with new opportunities and funding. This year, we saw some of our boldest ideas yet,” said Chris Parisi, Vice President of Millennial RI. “We are thrilled to welcome these ambitious young entrepreneurs to our network and help uplift the next generation of leaders.”

Funds for the scholarship are generously provided by charitable donations from Citizens and the Cooperative Credit Union Association, as well as the support of other local businesses including BankNewport, Massey and Associates, Dr. Day Care, and the RI Association of Realtors. The funds are distributed through Millennial RI, a local non-profit that encourages young professionals to build their careers in Rhode Island.