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Services & funding > Youth Development Partnership Fund > Round one projects > Audacious Business Challenge
Audacious Business Challenge
Young entrepreneurs from the University of Otago and Otago Polytechnic were given the opportunity to establish their own enterprise and unlock great business ideas in the NBR Audacious 2006 Student Business Challenge.
The project, submitted by Dunedin City Council, was one of 12
youth-focused projects funded during the first round of the Ministry of
Youth Development’s Youth Development Partnership Fund (YDPF).
The project’s aim was to provide budding entrepreneurs with the
inspiration and tools required to see their business ideas through to
fruition.
One of the major elements of the project was a business plan
competition, where by students presented their own business ideas and
plans and were judged on them by a panel of experienced businesspeople.
Over 90 students submitted entries.
In addition, a series of free business seminars allowed over 1,000
students to come along and listen to inspirational entrepreneurial
speakers talk about their experiences. The seminars doubled-up as an
opportunity for the students to network amongst themselves and the
business community.
By participating in the challenge, tertiary students in Dunedin were
connected with mentors, peers and business partnerships. The project
has led to young people securing successful employment opportunities
and has generated recognition of their abilities.
Project coordinator and Business Coach, Brent Wilson from Kickstart
Business Coaching says he is very pleased with how the project went
“Without the support of the Ministry of Youth Development this valuable
and highly regarded programme would never have got off the ground.”
NBR Audacious is continuing in 2007 with a wide base of commercial
sponsors building on the success of last year meaning the challenge is
well on its way to becoming an institution among students of the
University of Otago and Otago Polytechnic.
The feedback from the students who were involved was also extremely
positive. One University of Otago student found the challenge to be a
life-altering experience: "The seminar was fantastic, I reassessed what
I was doing and realised I'd gone off track which had resulted in my
lack of motivation. So, I slightly altered my direction to fit my
values again, and now feel a lot more motivated about my plans.”
Two of the business ideas submitted by participants were selected for
the television programme Dragon's Den, where budding entrepreneurs get
a minute to pitch their idea to a panel of potential investors made up
of New Zealand businesspeople.
A key objective of the YDPF is to increase achievement of positive
social, economic and wellbeing outcomes for young people by providing
opportunities to develop valuable work, life and learning skills.
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