More than 250 secondary schools up and down the country have signed up to take part in Tycoon in School 2013, the national enterprise competition spearheaded by entrepreneur and Dragons’ Den star Peter Jones.
Secondary schools signed up for the competition will today be starting to prepare their business proposals to make them as exciting and imaginative as possible to try and catch the eye of Peter Jones.
The competition grants a startup loan to hundreds of students aged between 11-18 years to encourage and inspire them to start a business whilst at school thereby placing enterprise at the heart of the education system in England.
Peter Jones and his judging panel will grant up to £1,000 per school. The successful teams that progress to the next stage of the competition will start up their businesses and trade for a period of four weeks during November.
Following the end of trading, all teams will be judged on innovation, performance and profits. The overall competition winner and four special award winners will be announced in January 2014.
BIS buys in
Following backing from the Department for Business, Innovation & Skills, the competition has now received a funding injection of £50,000, which will enable more secondary school children to take part and rollout the campaign.
“We are thrilled to have had so many schools up and down the country sign up for the Tycoon in Schools competition this year. With the support from the Department for Business, Innovation & Skills, the competition is set to be greater than ever,” says Alice Barnard, CEO of the Peter Jones Foundation.
“The Tycoon in Schools initiative is very important to the Peter Jones Foundation. Inspiring entrepreneurship and business minded thinking in young people is at the heart of our mission at the Peter Jones Foundation as it is vital for their future development and success. I can’t wait to see the new businesses and young entrepreneurial talent that emerges this year.”
The range of business ideas proposed and executed last year show how imaginative secondary school students can be.
Innovative business ideas ranged from hand-crafted clothing exchanges and community written recipe books, to customized technology accessories and even a potential cure for arthritis in horses. The competition was won by Eleanor Bullough from Da Vinci School, for her business Boo’s Bits & Bobs.
The deadline for students to submit theircompleted business plans to the Peter Jones Foundation is Tuesday, October 8, 2013.