The Tenner Challenge

by Startacus Admin

Here at Startacus we’re all about celebrating the self starters of the world - whatever age they may be. After all, entrepreneurship shouldn’t be related to age should it? So when we hear of initiatives and ventures that are helping to promote enterprise and ingenuity, well..quite frankly we love it.

The latest such venture to capture our hearts is Tenner.

In essence, the mission of Tenner is to help identify the next generation of budding entrepreneurs. Yep. The future.
Open to children and young people in 3 age groups, namely 5–11 years, 12–14 years and 15–19 years, the Tenner Challenge aims to help young people get a glimpse into what it’s like to be an entrepreneur.

Basically, the competition will involve young people being provided with £10 from the Tenner Bank. This startup capital must then be used to get a business off the ground. Over the course of a month, they must aim to make as much profit as they can whilst at the same time, trying to do some social good and make a difference to their communities or society in general. At the end of that month, the books are drawn up - income generated, startup capital repaid and any donations made. (Ideally a £1 donation is made to help more young people take part in the following year’s Challenge.)

This year’s Challenge takes place in March and all those interested students and schools have until 26th Feb to register. An awards ceremony will be held in May/June where recognition will be given to young people deemed to be the Most inspiring individual and the Best overall group as well as those who have made the Highest Profit and Biggest social impact.

All the rules and regs on how to register,who is eligible to apply and other ‘important stuff’ can be found on the Tenner site.

It’s such a great initiative so if you know a young person or that ought to take part, why not let them know! We’ll be following what happens with interest!

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Published on: 12th February 2014