A Memphis education group started by a former teacher has won a national award and $20,000 for helping to renew its community.

Let’s Innovate Through Education, or LITE, was chosen as five winners among 3,000 nominees across the nation to compete for the 2018 Renewal Award. The annual competition, now in its third year, was created by The Atlantic and Allstate to recognize local organizations for their work.

The group went head-to-head for votes against 25 other finalists to see which five groups would receive prizes of $20,000 each, while five runners-up received $10,000.

LITE was created in 2013 in the classroom of Hardy Farrow, a former teacher at Power Center Academy. The group seeks to close the racial wealth gap by helping young entrepreneurs of color launch businesses through an eight-year training model that equips students with capital, networks, and coaching.

PHOTO: LITE
More than 2,000 Memphis students have worked with LITE, and 90 percent are on track to finish college.

“When people from around the nation see us on this list, I hope they take away that age shouldn’t be a deterrent from pursuing entrepreneurship and location shouldn’t be a deterrent,” said Farrow, who now serves as the group’s executive director. “A lot of people don’t view Memphis as a place for new businesses to grow, especially businesses launched by young people. We’re changing that.”

LITE starts with a six-month high school program for students who pitch their ideas and work on projects to improve their communities. In college, they receive competitive internships with local employers such as Choose 901, Regional One Health, and the Memphis Education Fund.

So far, more than 2,000 Memphis students have worked with LITE, and 90 percent are on track to finish college.

LITE was the only Tennessee organization up for this year’s Renewal Award, but it’s not the first time for LITE to receive national attention. In 2016, the Memphis group was named one of the 20 ideas that can change the world by Forbes Magazine. And in 2013, Teach For America called it one of the five most innovative ideas in teaching.

“For students in our program who go on to apply for jobs or internships, saying you’re a part of this nationally honored program helps you get in the door,” Farrow said of the latest award. “It gives you confidence in launching a business, to say that you were picked for this program, you finished high school, and no you can go out and do this.”

Jada Newsom, a graduate of Ridgeway High School and sophomore at Middle Tennessee State University, is among those students. She spoke with Chalkbeat last summer about the work experience she was gaining as an intern at Imagine U, a local entrepreneurship program where she and other interns were developing a system to help college students manage their money better.

“I like how working as a team gives me a different perspective,” Newsom said. “ We can combine our ideas to make something bigger.”

Chalkbeat reporter Helen Carefoot contributed to this report.

Editor’s note: We updated this story after LITE Memphis announced they had won the Renewal Award.