WASHINGTON, Feb. 20 /PRNewswire/ -- As part of EntrepreneurshipWeek USA (The Week), teams from around the globe will compete to create and articulate the most value they can from an everyday object, within one week. The competition, known as the EntrepreneurshipWeek USA Innovation Challenge (The Challenge), requires creativity while leveraging available resources. Teams will be judged on the value they have created and defined in the short period of time.

The Challenge is part of EntrepreneurshipWeek USA, which runs from February 24 through March 3, 2007 and is sponsored by the Ewing Marion Kauffman Foundation, Inc. magazine and The New York Times. The Challenge explores the basic process of innovation and entrepreneurship, presenting each team with the same limited resources. The object will be announced during the national launch of The Week on February 24. In order to be successful in this entrepreneurial endeavor, teams will need to challenge assumptions, work together and seize opportunities to turn their object into something valuable for society.

"The Challenge offers young people around the world the opportunity to experience the entrepreneurial process first hand and feel the excitement from taking on a big idea," said Carl Schramm, president and CEO of the Kauffman Foundation. "This will provide an invaluable experience that stretches imaginations to figure out a creative solution."

EntrepreneurshipWeek USA partner organizations are encouraged to host local competitions to select winners who will then be submitted to the global round of The Challenge competition. All teams must register by February 25. Individuals without opportunity to submit to local competitions can upload submissions directly through March 3 at http://www.entrepreneurshipweekusa.com/. For complete rules and deadlines, go to entrepreneurshipweekusa.goingon.com. Eligible participants must be between the ages of 14 and 30. Overall winners of The Challenge will be announced on Friday, March 9. Winners will be determined in the following categories:

* best group between ages 14 and 18 * most money earned * most social value generated * most creative * most entertaining * most dramatic risk (whether or not it was successful)

The Challenge "material," -- the everyday object that teams must use to create their entry -- will be unveiled on February 24. Teams will have until Saturday, March 3 to generate as much value as they deem possible. Submissions must be uploaded in the form of three digital slides or a three- minute video.

About EntrepreneurshipWeek USA

Over 1,100 partners and sponsors are now engaged in EntrepreneurshipWeek USA events throughout the country. With the theme, "What's Your Big Idea? Take it On!," the EntrepreneurshipWeek USA initiative is designed to serve as an inspiration for young people to think creatively and to turn their ideas into action -- whether that means starting a new business, developing an innovation for an existing company or solving a problem that makes society better.

EntrepreneurshipWeek USA is sponsored nationally by the Ewing Marion Kauffman Foundation, The New York Times and Inc. magazine. For more information on events and activities across the country as well as how to engage your organization and encourage young people to get involved in EntrepreneurshipWeek USA, please visit http://www.entrepreneurshipweekusa.com/.

Contacts: Brianne Lunzmann Hill & Knowlton brianne.lunzmann@hillandknowlton.com | 949-223-2314 Tom Phillips comptwp@aol.com | 212-935-4655

CONTACT: Brianne Lunzmann of Hill & Knowlton, +1-949-223-2314,
brianne.lunzmann@hillandknowlton.com, for EntrepreneurshipWeek USA; or Tom
Phillips, +1-212-935-4655, comptwp@aol.com, for EntrepreneurshipWeek USA

Web site: http://www.entrepreneurshipweekusa.com/