Developed in Norway, 'Gründeridol' is a competition to identify the best business idea among participating Young Enterprise groups. The winners' prize is to spend a day with professional mentors and tutors in order to develop their idea into a real business plan.
Purpose and process
The purpose is to provide young entrepreneurs with an opportunity to develop their ideas into real products and/or services with the support of professional business people. In order to win this prize the groups must first present their ideas to a jury. Everyone will receive some feedback on their ideas, plus tips on what actions they will need to take in order to further develop their business plans but only the winners get actual support and dedicated time from professionals with entrepreneurial experience.
Through participation in the competition, students can:
- assess their own assumptions about their business idea
- compare their assumptions with the judgement of experts
- gain a real understanding of what work they will have to do if they want to progress from 'idea' stage to running a viable 'business'
- build knowledge and skills necessary for developing a business plan
- develop insight into what it takes to start a business
- benefit from contact with a range of professional business people, as well as their teachers.
Curricular or thematic relevance
The competition fits well with the Norwegian curriculum in relation to Entrepreneurship and Marketing. It can also be used in conjunction with reporting objectives in Languages.
How to organise:
This is an extra-curricular activity, both with regard to the preparation stages - which could take place during an after-school club, for example - and to the competition itself.
Assessment and evaluation approaches
Groups are assessed by a jury in terms of the quality, viability and standard of presentation of their business idea. They are also judged on whether they have the potential to develop a business plan and to take full advantage of the professional support available.
Four to eight business volunteers are required to participate in the jury and professional mentors/tutors are needed to support the prizewinners in developing their business plan.
helper do TM detail body (June 6th, 1st half)