HSBC Bank USA (HSBC) has announced that it has donated $1 million to Virtual Enterprises International (VE), allowing the nonprofit to offer its acclaimed career readiness and youth entrepreneurship program to 30,000 students in classrooms across the United States over the next two years.
The HSBC relationship with VE began in 1999 and has included more than $2.8 million to date, as well as hours of service by HSBC employee-volunteers visiting the classrooms and acting as judges for the Youth Business Summit.
VE is a global, credited, in-school program where students create a simulated business in their classroom. Through the program, students cultivate key professional, technical and life skills that are required to prepare them for the jobs of the future, while taking part in an authentic, collaborative, entrepreneurial experience.
US head of human resources for HSBC, Maureen A. Gillan-Myer said, “VE is unique in its way of preparing today’s youth for jobs of the future – some of which have yet to be invented. While technological skills are important for those careers, the higher cognitive skills like creativity, critical thinking, and complex information processing are vital, and are attributes honed through the VE program.”
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The $1 million donation by HSBC will not only facilitate growth of the VE program in additional cities, but will support its expansion to high-need schools where more than 50 percent of the student population are from low-income households.
The new funding will create the “HSBC Opportunity Fund” with students competing for funds to cover travel costs to attend VE’s national competitions during the Youth Business Summit.
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