The Elizabeth City-Pasquotank Board of Education has endorsed an initiative to give economically disadvantaged youth a chance to operate their own small businesses.

At a meeting Monday, the school board unanimously agreed to join a partnership to launch the Youth Entrepreneurship Leadership Institute. The partnership brings together the school system, River City Community Development Corp., Elizabeth City State University and College of The Albemarle.

Funding for the institute will come from the Rocky Mount-based Golden LEAF Foundation through a $50,000 grant to River City CDC.

The institute will give low-income at-risk youth ages 16 to 24 a chance to own and operate their own small businesses. It calls for students to attend classes one day a week after school, where they will learn marketing, finance and planning skills.

Participants will also be given stipends of up to $500 based on attendance and program outcomes.

Michael Twiddy, a business counselor with ECSU's Small Business Technology and Development Center, said many of the institute's specifics are still being ironed out.

Enrollment in the institute will be limited to three to four students from Pasquotank County's two high schools. Potential participants will be identified by the schools' guidance counselors and interest sessions will be conducted.