The deadline for schools to register for the competition is the 2nd July 2012 after which they are asked to start turning their business ideas into reality.
Already, over 300 schools have registered to take part in this competition, which offers a grand prize of $5000 to the school with the best business. Other prizes available include $1000 for the best business plans in each continent, $2000 for the best overall teacher and a laptop for the best overall student.
Kana Academy Kindergarten & Primary School in Ethiopia are one of the schools who have already registered for this year's competition. They cannot wait to start developing their travel company that will sell tours and local souvenirs to passing tourists.
The headmaster said, "The school is currently lacking many basic needs including electricity and drinking water. We hope to use the profits from our business to install these and improve the welfare of our students"
Another new participant to this year's competition is Sri Hanumat Sikshan Sansthan in India. They are excited to start their Beauty Parlour training scheme.
The headmaster said, "I hope to teach our students the vocational skills and practical knowledge they need to establish their own business after completing their education with us."
The School Enterprise Challenge was launched for the first time in 2011. With over 600 schools taking part it was a tough competition but JR School from Mauritius came out on top thanks to the success of their student run café.
"Participation has changed our lives and provided a new orientation for the future of the JR School, its students and customers, parents, trainers and the community at large!" - Headmaster at JR School.
Due to the success of last year's competition, the School Enterprise Challenge 2012 is open to schools in both developed and developing countries. As a result, schools competing this year will have the opportunity to form partnerships with schools all over the globe and share experiences with students and teachers from very different backgrounds to their own.
Nik Kafka, Managing Director of Teach A Man To Fish, said "we are delighted to be holding the second School Enterprise Challenge. With more countries and schools getting involved the competition will be even bigger and better and more young people will be equipped with the skills needed to enter the business world."
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ABOUT THE SCHOOL ENTERPRISE CHALLENGE
The School Enterprise Challenge is a global competition open to all formal educational institutes in every country. It is a chance for schools and their students to develop a school business that not only generates additional income for the school, but also provides students with valuable business skills. There are two routes to enter the 2012 School Enterprise Challenge:
Route 1 (Developing & Developed Countries)
Stage I: Business Planning: Students decide on their enterprise and research & develop a business plan outlining what they intend to do & how they will finance it.
Stage II: Enterprise challenge: Schools elect a board to manage the business, assign roles, mobilize resources for start-up, and implement their enterprises.
Route 2 (Developed Countries)
Write and submit a business plan aimed at a partner school in a developing country. Schools will be encouraged to interact with their overseas partner schools as much as possible, and to learn from each other's experience of the business planning process.
ABOUT TEACH A MAN TO FISH
Teach A Man To Fish is an international non-profit organization working to improve the relevancy, quality, and availability of education in developing countries. Our pioneering approach uses profit-making school-run businesses to teach entrepreneurship and livelihood skills. This model allows schools to generate additional income, improving their financial sustainability, while at the same time enabling them to offer a more relevant and higher quality education.