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Peter Jones invests £100,000 in Tenner Tycoon spin-off

Scheme aims to encourage entrepreneurship in school-age children

Dragons’ Den star Peter Jones has launched a nationwide enterprise competition, which aims to develop the business brains of the future

The competition, named Tycoon in Schools, is due to start on 1 November 2012 and will see pupils at schools across the country encouraged to pitch their business plans to tutors, in the hope of receiving seed funding from Jones’ personal investment of £100,000.

Aspiring entrepreneurs will then compete over the course of a month for the top spot on the Tycoon League Table, by making as high a profit as possible.

At the end of the competition, students will repay their original loans to the Tycoon Bank, while any additional profit will be used by the school or donated to charity.

The initiative follows in the footsteps of the Tenner Tycoon programme, which Jones had invested in, after the demise of the quango behind the scheme delayed it from going ahead this year.

Jones has made it his personal challenge to raise the entrepreneurial spirit of British students and is optimistic that Tycoon in Schools will help him to achieve this task, saying:

“For too long schools across Britain have been calling out for an enterprise challenge to encourage their young people to ‘dream big.’   “Enterprise is the missing piece of the jigsaw in schools today. You can’t start early enough when it comes to learning about enterprise, and through Tycoon in Schools we hope to reach young people of all ages and inspire them to realise their potential.”

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