Schoolchildren go global for popular business competition
YOUNG entrepreneurs have been set the challenge of thinking global when developing their business ideas for a competition designed to inspire enterprise skills among schoolchildren.
Future Business Magnates (FBM) – an annual competition run by Business Durham, the economic development organisation for County Durham – was launched today (Nov 1) at Newton Aycliffe’s Xcel Centre with the challenge: Made in County Durham, Sold to the World.
Influential names from the business world, including Bignall Group, Ebac, Hydram, Waterstons, CA Group, Robertson Construction, Roman Limited, Franks the Flooring Store and Zumtobel Group will partner 18 school teams from across County Durham and provide mentoring and support over the next few months.
Sarah Slaven, operations director for Business Durham, which works on behalf of Durham County Council, said: “Pupils taking part in Future Business Magnates have always proved just how imaginative County Durham’s young people can be. We are looking forward to seeing the innovative ideas they will come up with in this year’s competition.
“Pupils will be encouraged to draw on all of the resources available to them, from their schools, their business partners, and their networks to develop a business idea that has global appeal. We want to see the teams developing a product or service that can be made using the skills found here in County Durham, and be exported around the world.”
Cllr Carl Marshall, Durham County Council’s Cabinet member for economic regeneration, said: “Our young people are the business people of tomorrow so it’s great that this competition gets them thinking about enterprise.
“We hope they take a lot from the experience of working with big names from the private sector and we’re really looking forward to seeing the fruits of their creativity.”
Over the next eight months, around 180 pupils will attend a series of specially designed workshops and work with their mentors to develop a business idea, create a prototype and understand how to market and finance their product or service.
Pupils will present their finished concept to the judges and winners will be announced at an awards ceremony in June next year. FBM has helped develop the business acumen and creative flair of hundreds of secondary school children since it was first established in 2005.
The winner of last year’s competition was St John’s School and Sixth Form College, in Bishop Auckland, who created Generation Jigsaw, a product aimed at connecting generations and encouraging conversations in a world saturated by technology. Following the competition, the team is continuing to further develop their product with a view to taking it to market.
Find out more about the competition here.
Other News
Follow NETPark On Social Media
Keep up to date with the latest NETPark news and events.
The North East Technology Park provides a dynamic and supportive environment to accelerate the growth of ambitious, innovative, high tech companies into global markets. NETPark encourages collaborative multidisciplinary links, driving innovation, enterprise and economic prosperity.
We provide companies with access to a focused and international community where talent flourishes, ideas are generated and businesses have the support and resources to compete with the best in the world.
NETPark North East Technology Park
NETPark, North East Technology Park,
Sedgefield, County Durham TS21 3FD
Call Us: (+44) 01740 625250
Email: enquiries@northeasttechnologypark.com
Web: northeasttechnologypark.com
The proximity to the universities and the infrastructure are very important factors. Ultimately having a presence in Europe is very valuable to us and we intend to stay at NETPark for many years to come.
The quality of the facilities at NETPark and the attitude of staff is first class. It has a really dynamic, innovative atmosphere.
CPI has developed a specialist offering to support SMEs looking to develop their printable electronics applications and our partnership with Business Durham has been instrumental in attracting several SMEs to locate here in the region.
Access to quality facilities was one of the main drivers for deciding to locate the business at the NETPark. We have been able to use this as a launch pad to link into support from CPI and world-class expertise from Durham University.
It fits perfectly for us that we’re surrounded by like-minded companies at NETPark. There are a number of highly skilled people in the area who can help us grow our business. The facilities and services offered by NETPark are first class, they make office life simple and engaging.
We initially came because of the printable electronics centre but access to a highly skilled semi conductor workforce in the North East has been a key factor in us staying and growing here, as well as the value for money office space and the access to funding.