Local year eight children demonstrated their business acumen as part of a competition run by Middlesex University to develop the talents of the next generation of entrepreneurs – as part of Global Entrepreneurship Week (18-22 November).
To uncover the best young entrepreneurs from around north London the teams of year 8 students from schools including The Compton School and Copthall School were tasked with coming up with a concept and business plan for a new mobile phone app.
A group of pupils from The Compton School in Finchley were crowned junior entrepreneurs of the year – for their app ‘Build a World’ which incorporated school subject specific problems to solve to help the user to complete the game.
Under the watchful eye of Middlesex University entrepreneurship expert Dr Simon Best pupils from a total of 10 schools were shown the basics of running a business including how a business operates, business plans, promotion and advertising, and finance throughout the interactive task. Middlesex ‘business gurus’ were on hand to offer advice and guidance to the pupils as they completed the task.
The student teams had a virtual budget of £15,000 each to come up with an idea, complete market research, promote, design and sell their app. The business ideas were judged by teachers from the 10 competing schools.
Dr Simon Best, who runs Middlesex University’s enterprise development hub, said: “The standard was absolutely incredible - I was really impressed with the quality of what the pupils were doing. The Compton had a great idea - it was something that would actually have real potential in the business field.
“The purpose of this competition is to encourage year eight school pupils to start thinking about the notion of enterprise and what it means to undertake enterprising actions in relation to starting and running a business.”