A Competition That Encourages Art and Commerce

We’ve written fairly recently about ways artists can market themselves and their work as well as the dilemmas they grapple with when doing so. So my ears perked up when hip-hop mogul Russell Simmons kicked off a new competition at the New York Stock Exchange this morning meant to encourage artists to try their hands at business.

Cosponsored by the Ewing Marion Kauffman Foundation, the world’s largest foundation for entrepreneurship, and the Acton Foundation for Entrepreneurial Excellence, oddly-titled Race to BE. encourages creative young people skilled in film, music, or fashion to turn their passions into business ventures, awarding one winner in each industry $5,000 as well as mentoring and additional perks. From Oct. 2 through Oct. 31, 18- to 29-year-olds can complete an online application form and upload a short video submission of their work to be considered.

The competition is the signature event of the upcoming (Nov. 17 through Nov. 23) first-ever Global Entrepreneurship Week, a series of events meant to encourage young people around the globe to think creatively and to turn their business ideas into reality. It expands upon last year’s first-ever EntrepreneurshipWeekUSA.

Before it's here, it's on the Bloomberg Terminal.