Photo: NYDN

Twenty-two-year-old NYU students Susie Levitt and Katie Shea have started producing a line of shoes called Citisoles, flat shoes that can fold into tiny handbags. They came up with the idea after an internship on Wall Street (they don't mention the name of the institution, though it seems evident) left them hobbling from high heels. The shoes will be made of the cheapest possible materials, they tell the Daily News, and will be manufactured in Ningbo, China, where, incidentally, children have been known to work fourteen-hour shifts, or until their hands bleed. "Every way we can cut costs, we do," Levitt said. "We are recessionista entrepreneurs!"

From folding shoe to eco-friendly pizza box, young entrepreneurs thrive despite recession [NYDN]