Tycoon in Schools is a ‘free’ competition which takes place during the autumn term each year and is run by the Peter Jones Foundation. You can find out more http://www.tycooninschools.com.
The competition is open to all state and private schools in the United Kingdom and pupils aged 5 -18. Schools need to register and submit their plans online by 30th September 2016.
The aim of the competition is to give pupils the opportunity to come up with a business idea, and to apply for a goodwill loan from the Foundation. Primary schools a maximum of 5 teams and up to £100 per team, Secondary schools and FE colleges (learners 18 and under) can apply for up to £1000 per team with a maximum of 5 teams being submitted. Find out how the competition works here…
How the Competition Works
To access the goodwill loan pupils are given the task of costing out how much they will need to set-up and start the business idea, and this is submitted on-line.
The costs listed constitute the amount of the teams ‘goodwill loan’. The business plan submission will be reviewed and approved by a member of the Peter Jones foundation, and once approved the loan is then transferred to the school in time for the start of trading which runs from 31st October through to 16th December. At the end of the trading period the aim is that students will have run their business and made a profit, they will then pay back the goodwill loan to the Foundation and keep the profit. The great news is that if the team unfortunately makes a loss then the Foundation will stand the loss*.
Free resources and cartoons are available to help teachers deliver the competition and make it an active and interesting project for pupils to take part in which are available via the teachers’ area of the website.
Last year the Key Stage winners of Key Stage 1 and 2, Key Stage 3, Key Stage 4 and Key Stage 5 were invited to a celebration and finals event at Buckingham Palace – the winning team were awarded £1,000. The teams got to the final were not just the ones who made the most profit but those who came up with the most sustainable, quirky and original business idea. The finalists were selected by the dragon himself Peter Jones CBE form all the entries and submissions.
We hope you would agree the competition is a brilliant opportunity to give pupils the opportunity to develop their soft skills including communication, team work, problem solving and resilience, the competition has also been mapped against the curriculum and is FREE.
The great thing is that the pupils themselves can choose to do what they wish with the profit they make at the end of the trading period, with many pupils and schools choosing to support local charities of their choice.
Overview with secondary and primary school information are attached, but if you would like to find out anything more please do get in touch with the Tycoon in Schools team at the Peter Jones Foundation via firstname.lastname@example.org
Below are downloadable PDF’s;