Profitunity! is about turning your idea into money-making reality, helping people who need a break in life whilst learning from experts about businesses and how they really work.
What is Profitunity!?
From cupcakes to courier companies, concerts to car washing, good business ideas come in all shapes and sizes. Your idea could make a big difference to someone who needs a break in life.
If you’ve got a good business idea and a team of 4 to 6 friends, we’ll give you access to experts who will develop your entrepreneurial skills and turn your business idea into a money-making reality.
All the money your idea raises will go to the Prince’s Trust. They’ll use it to help disadvantaged young people in the UK to overcome barriers and achieve their potential.
And because helping people achieve their potential matters so much to us, we’ll give you £500 to get your business off the ground.
The competition runs from December 2009 to March 2010.
“This year’s teams have produced truly innovative and excellent results, which will benefit the many young people The Prince’s Trust aims to help each year.”
Peter Matthews, Ernst & Young sponsoring Partner
How it works
Your first step is to apply online, where one team will be selected by your university to take part in the competition. If chosen, your team will attend a launch to learn some essential skills including writing a business-plan and financial planning, and to meet your mentor. Once your business-plan has been approved, you’ll receive funding of up to £500 to turn your ideas into reality.
As you get your business underway, your mentor will be there to help and guide you through monthly meetings on campus to discuss progress, debate ideas, find solutions to challenges and develop your skills.
It’ll take about ten hours of your time a week, and as all money raised by the businesses will be donated to The Prince’s Trust, you know all your hard work will be helping others to get their lives working too.
We’ll invite the top teams to London for the final in April 2010, where the winning team, decided by our judging panel, will win a cash prize.
“Profitunity! is the single most important thing on my CV and I will definitely be talking about it at job interviews.”
Team member, Momentum, Oxford University