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Teen entrepreneur building the American dream

BY FARNOOSH TORABI | Special to amNewYork

December 4, 2006

When Mohammed Omar Faruk emigrated from Bangladesh in 1997, he didn't have high hopes for a better life in New York City.

"My parents dragged me here," the 18-year-old said.

He remembers his early days in the city, sharing an overcrowded apartment in Bedford-Stuyvesant with as many as seven family members. His English was pretty limited at first.

"The only words I knew were, 'Me no English,'" he said.

But Faruk, now a senior at Independent High School in Manhattan, has made amazing strides. Perhaps most exceptionally, he's managed to outpace the average American teen by starting his own business called BlueStream Corp.

The Web-based business, Bluestreamcorp.com, helps non-profit organizations build their Web sites and learn computer skills at an affordable rate.

"What may cost them thousands of dollars [for a Web site], we do for a few hundred," Faruk said.

The teen started the venture about two years ago with about $3,000 in grant money and an additional $1,000 investment from his brother-in-law. He also used credit cards.

Faruk figures he's raised about $40,000 from the initial funding. Recently he's also started a non-profit company, The Action Network, which strives to increase volunteerism in low-income communities in the city. That, Faruk said, speaks to his deep interest in social issues.

Faruk showed signs of entrepreneurship early on. In the seventh grade, he enrolled in a summer program sponsored by the National Foundation for Teaching Entrepreneurship, or NFTE.

During the course, he learned economics, business ethics and how to start his own business.

"I didn't really make much of it during that time, but I was learning," he said.

Into high school, Faruk returned to NFTE, this time as a certified entrepreneurship teacher. It was then that he refined his ideas for BlueStream Corp. NFTE recognized his endeavors by naming him its 2006 Entrepreneur of the Year. He's also the youngest recipient of the Ernst & Young Entrepreneur of the Year Award.

While his business achievements rank high, Faruk admits his academic record is not as impressive.

"My teachers would agree I'm a smart kid ... but my grades suffered. I'm not the perfect 'A' student," he said, considering most of his time is spent on the business, in addition to extracurricular activities like student government.

Helping out his large and extended family has also been a major priority; Faruk's mother often needs his help translating English.

Because of his grades, Faruk knows his goals of attending Babson College, the country's top business school for entrepreneurship, will have to wait.

In the meantime, he plans on staying in the city for a couple of years after graduating high school and attending a state university before transferring to his dream school.

Farnoosh Torabi is a video correspondent for thestreet.com. Reach her at amSmallBusiness@gmail.com.