Channel 4 Education have teamed up with high street bank Barclays to launch ‘The Stake’ which will see youngsters competing for the chance to decide how £100,000 is spent.
The aim of the venture is to encourage the entrepreneurial spirit in young people, and have their “good ideas and passion” rewarded.
Young people between the ages of 16 and 21 are encouraged to submit their ideas about how they would spend a share of the money…
It could be a start up business, or equipment for a school, or even a one-off money spinner event.
All entrants will need to pass a series of fun online challenges, which you can read about here on The Stake’s website.
Up to six winners will be announced in January, and each winner will be given up to £20,000, which they’ll get to spend with support and advice from top financial experts.
A film crew will also follow the winners and document their stories as they go through their challenges and bring their ideas to life.
The Commissioning Editor of Education at Channel 4, Jo Twist, said of the concept, “Being enterprising and knowing how to turn your passion into a satisfying reality is such an important skill for young people to experience.
“But often you need to know how to manage money to make that happen. In what is a bit like a cross between Kickstarter and strategic gameplay…
“We hope The Stake will inspire thousands of young people to be more financially savvy and show them that anything is possible.”
And Antony Jenkins, Chief Executive of Barclays Retail and Business Banking, added, “It’s crucial that young people have the opportunity to build their financial skills and confidence and actively participate in the future growth of the economy.
“This innovative competition will identify some of the business leaders of tomorrow and provide many more young people with valuable financial knowledge.”
Let us know if you apply for The Stake, and of course, how you get on!