Government Injects £50,000 into Second Tycoon in Schools Contest (England)
Tycoon in Schools was set up in 2012 by businessman, entrepreneur and television personality, Peter Jones CBE, with a personal investment of £100,000.
The competition is designed to encourage school-age youngsters from across the country to start their own business. The intention is to inspire pupils to pitch business plans to their tutors, in the hope of receiving seed funding.
Now in its second year, the competition has received backing from the Department for Business, Innovation and Skills, with a funding injection of £50,000 to help roll out the campaign and encourage more school children to take part.
If successful in their bids, students will have one month in which to commence trading and make a profit from their enterprise. Participants will compete for a place on the Tycoon League Table, by making as high a profit as possible.
Schools taking part in the contest will be given a loan of £1,000 to be allocated to those pupils who have displayed entrepreneurial aspirations. At the close of the competition, the students will repay their original loans to the Tycoon Bank, and remaining profits can be used by the school or donated to local charitable causes.
Schools across England may apply for funding through this scheme, on behalf of their entrepreneurial students.
Speaking about the launch of the second Tycoon in Schools, Peter Jones CBE said:
“Last year’s Tycoon in Schools competition was a huge success, and I am more determined than ever to ensure that enterprise and entrepreneurship remains a key focus of Britain’s education system.
“I was thrilled with how many teams got involved last year and hugely impressed by their enthusiasm throughout the competition – I can’t wait to see the new businesses and young entrepreneurial talent that emerges this year.
“It’s fantastic that Tycoon in Schools has received support from the Department for Business, Innovation and Skills and the competition is set to be even bigger and better this year.”
The deadline for registrations for the 2013 Tycoon in Schools Competition is 5pm on Monday 9 September 2013.
Click here for more details (opens in new window).
Source: tycooninschools.com. 10/06/2013
