UK students compete in enterprise competition

Students across the country began work on this year’s Make Your Mark with a Tenner campaign this week.

The initiative, which is spearheaded by Dragons’ Den’s Peter Jones, will see 30,000 students attempt to return a profit from a £10 loan by coming up with creative and enterprising ideas.

Winners will be chosen from three categories: under 11s, 11-14 year olds and 14-19 year olds, with awards for the best business idea, the most profit generated and the best positive impact made on the community.

Winners will also be given one-to-one sessions with a range of successful British entrepreneurs including Peter Jones and Eden Project founder Tim Smit.

Six winners will also each be awarded £100 start up capital and support from a business mentor to help them develop their entrepreneurial ideas.

The challenge was dreamed up by serial entrepreneur Oli Barrett and this year’s competition has been funded by Peter Jones and Michael and Xochi Birch, the founders of social networking site Bebo.

Peter Jones, chair of Enterprise UK, which runs the competition, said: “Make Your Mark with a Tenner harnesses the unrivalled energy and creativity of young people. Their fantastic achievements increase each year that we run it, proof that if you trust young people to act entrepreneurially they will rise to the challenge.”

© Crimson Business Ltd. 2010