Tycoon in Schools 2015 Competition Pack

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1 Tycoon in Schools 2015 Competition Pack

2 Contents Introduction Page 2 Why take part? Page 4 Competition timeline Page 5 Competition outline: Page 6-9 * Registration * Business plan * Trading period * Evaluation and judging Judging criteria Page 10 Competition top tips Page 11 FAQs Page Terms and conditions Page

3 Introduction Welcome to Tycoon in Schools 2015! Launched in 2012 by Peter Jones CBE, Tycoon is Schools is a competition that offers young people the opportunity to run their own companies. We give schoolchildren across the UK a loan of between 50 and 1000, which allows them to put their entrepreneurial ideas into practice and gain valuable experience of what it takes to work together and make a profit. The money raised during trading can be reinvested in the students businesses, given to their schools or donated to charity. We are very proud of what participants have achieved over the last three years and are more excited now than ever before. We were so impressed by the quality of entrants in 2014 that we tripled the prize money and gave the top award to three exceptional finalists, who each developed innovative products and followed through on their business plans like true professionals. Entries have more than doubled since the first year, and for 2015 we have opened the competition to primary schools, so that we can share the benefits of enterprise education with children from a younger age. All registrants who submit a business plan by 30th September will receive a loan and this pack will provide you with everything you need to know about how to enter and how to make the most of the competition. There are plenty more resources available for free on the teacher area of our website. To further push enterprise education in the UK, we have set up a new initiative, the Peter Jones Enterprise School Award. By signing up to this partnership, schools receive year-round support in running an enterprise club and entering more competitions with fast-track access to Tycoon in Schools. If you would like to know more, please visit the Peter Jones Enterprise Academy website. This is a very exciting time for the Peter Jones Foundation and Tycoon in Schools; we thank you for taking part in the competition and hope to meet you at some point along the way. Good luck! Alice Barnard Chief Executive, Peter Jones Foundation 2

4 Three winning teams from the 2014 competition, crowned at Buckingham Palace. The much coveted Tycoon in Schools trophies! The 2013 winners and Peter Jones CBE. The first ever Tycoon in Schools winner! 3

5 Why take part? Tycoon in Schools is a unique opportunity for students to take part in an exciting, high profile national enterprise competition. Students will gain valuable experience of developing, creating and running a business. Students will develop their enterprise and entrepreneurial skills, including problem solving, teamwork and communication. The competition directly links with key curriculum requirements set out by the government, including the new statutory guidance on careers. Businesses created through Tycoon in Schools can continue beyond the competition, creating a legacy for their schools. The high profile nature of the competition can help to generate interest in business and enterprise skills among the wider school community. This is a chance for schools to come together to celebrate enterprise and to unleash the potential of aspiring young entrepreneurs. Lukman Patel, Head of Ethics, Westborough High School: We would encourage all schools to take part in Tycoon in Schools It allows young people to develop fantastic enterprise and business skills. The Tycoon in Schools team provides fantastic support at all stages of the competition. 4

6 Competition timeline START! Register to take part in Tycoon in Schools 2015 Until 30th Sept 2015 Business plan available for submission 1st June - 30th Sept 2015 Deadline for registration and business plan submission 30th Sept 2015 Final deadline for schools finance information 30th Sept 2015 Loans to be returned to the Peter Jones Foundation Trading period Loans distributed via schools finance departments 18th Dec th Jan nd Nov - 18th Dec 2015 w/c 19th Oct 2015 Deadline for evaluation reports to be submitted 5pm, 15th Jan 2016 Finalists announced and invited to the awards ceremony February 2016 Tycoon in Schools Awards Ceremony February/March 2016 Register for Tycoon in Schools 2016! 5

7 Competition outline Registration Until 30th September 2015 To compete in Tycoon in Schools 2015, schools must register via before 30th September. Each registrant will receive a confirmation containing unique login information, to allow full access to the teacher area on the website and to enable them to upload and submit their business plan/s. All schools who register for the 2015 competition will qualify for a loan for each team they enter, on the condition that they submit their completed business plan/s between 1st June and 30th September There is no limit to the number of teams each school may enter. Schools must register in order to submit their business plans. Head to and register now! 6

8 Competition outline Business plan 1st June - 30th September 2015 To take part in the competition, teams must complete and submit an official Tycoon in Schools business plan, which can be downloaded from the teacher area on the Tycoon in Schools website. Only business plans using the official Tycoon in Schools business plan Word template will be eligible for the competition. Each team can borrow between 50 and 1000 and must clearly state the requested loan amount in their business plan. Teams must be key stage specific, with the exception of key stages 1 and 2, which can be combined. Teachers can download teaching resources from the website to help support students as they develop their business idea and write their business plans. However, these resources are not compulsory. Completed business plans must be uploaded via the teacher area on the website, using the login details supplied at registration. Each plan submitted will be reviewed by the team at the Peter Jones Foundation using the judging criteria outlined on page 10, before the loans are distributed. It is important that each team considers the judging criteria when developing their business idea. Finance information must be included in the business plan, or submitted separately to the Peter Jones Foundation. All finance information must be provided by 30th September. Loans will be sent directly to schools bank accounts using the details provided, in time for the start of trading. Once the loans have been transferred, lead teachers will be responsible for distributing the money to the teams based on their business plans. Peter Jones CBE reviewing the business plans! To assist the students with trading, teams will receive some additional resources from the Peter Jones Foundation, including Tycoon in Schools lapel badges and pens. 7

9 Competition outline Trading period 2nd November - 18th December 2015 All teams will trade from 2nd November until 18th December. Only money generated during the trading period will be considered for Tycoon in Schools judging purposes. Each team will have access to their own profile page to help promote their business, which will become available on the website shortly before trading begins. We encourage all teams to continually update them over the seven week trading period, as the profile pages will be considered during the judging process. Teams will be able to use their profile pages to upload photos, videos, status updates, sales figures and link to their Twitter feeds. The profile pages can be edited by signing in via the teacher area, using the login information provided at registration. Teams must include photographic evidence via their team profile pages. The judges will be paying particular attention to the profiles pages and any supporting activity on the teams Tycoon in Schools social media accounts. Links to YouTube can also be included as further evidence, but this is optional and videos are limited to three minutes in length. It is the responsibility of the lead teacher to update the teams sales figures by following the instructions on the website. There will be a live leaderboard based on these sales figures to help fuel the excitement throughout the trading period. However, the leaderboard is not an indication of who will win the competition. Update those team profile pages! Tycoon in Schools ambassadors will visit some participating schools to provide mentoring for teams and individuals during the trading period. Look out for further information about this. 8

10 Competition outline Evaluation and judging 18th December th January 2016 After the trading period, each Tycoon in Schools team will be required to complete and submit an official Tycoon in Schools evaluation report. The evaluation report template will be available to download from the teacher area on the website by the end of the trading period. Completed evaluation reports must be submitted by the lead teacher via the website, no later than 5pm, 15th January Only evaluation reports using the official Word template will be accepted for judging purposes. The completed evaluation reports will be used to help decide the winners of the competition. The Tycoon in Schools competition judging panel will include Peter Jones CBE, members of the Peter Jones Foundation team and an external independent judge. There will be one overall Tycoon in Schools competition winner, as well as a winner and runner-up for each key stage category. The winners will be decided based on the best performance in the view of the judges, across the judging criteria outlined on page 10 and will need to have made a profit. The shortlisted Tycoon in Schools teams will be notified in February 2016 and invited to the annual Tycoon in Schools Awards Ceremony, which will take place in London in February/March Further details about the awards ceremony will be released nearer the time. Schools must return their start-up loans to the Peter Jones Foundation via their finance department (ideally by BACS transfer) by 5pm, 15th January Tycoon in Schools evaluation reports 9

11 Judging criteria The judges will assess each Tycoon in Schools business plan and participating business by referencing the five criteria outlined below. Each team must take the judging criteria into consideration when completing their business plan and evaluation report. Judging criteria Viability Idea Market Planning Profitability What does this mean? What is the potential success of the business? Is it a good business idea? Who is the target market for the business? How well planned is the business idea? Is there potential for the business to make a profit? What are the judges looking for? Will the business work? Potential to make an income. Sustainability beyond the competition. Prospects of the business, i.e. short term (3-6 months+), long term (6 months+). The legacy of the business. Originality and creativity of the concept. Is it well thought out? Has the idea been explained well? Potential for development. Evidence of entrepreneurial and enterprising ability. Market research to test and refine the concept. An identified need for the business. A customer base. The impact of the business on the community. Evidence of planning. Quality of submitted plan. Team management, i.e. financial, marketing, production. Skills and capabilities of the team, i.e. leadership, problem solving, teamwork. Profitability of the business after the initial start-up loan has been returned. Have all costs been considered and accounted for? Are they accurate and feasible? The potential net profit. 10

12 Competition top tips 1 2 Perfect your profile page The Tycoon in Schools judges love to see creative, colourful, jam-packed profile pages. So update your page with your team blurb, photos, videos, sales figures and anything else you can think of to show off your business. Don t forget to link your Twitter feed to your profile page by adding your Twitter handle on the website. Sign up to social media Create your own Tycoon in Schools team social media accounts and update them regularly to spread the word about your business. Twitter, Facebook and Instagram are great ways to keep us updated with your trading activity. Use your team social media accounts to build up a customer base and to keep them informed with key information about your business. Don t forget to tag and use the hashtag #TiS Capture the moment A picture says a thousand words. So take as many photos as you can and upload them to your profile page or social media accounts. We want to know all about your business, your product and all your exciting trading activity, so get snapping. Get noticed Contact your local press directly or the Tycoon in Schools Press Officer via and get the community talking about what you re doing. Getting featured in your local newspaper is a great way to advertise your business. Send us your news and you could even be featured in the Tycoon Telegraph! Brand your business Harness your creative side and make your business recognisable. How about designing a logo to use on your product, packaging, profile page and social media accounts? Take a look at some well-known brands to see how they have done it. 11

13 FAQs 1. Who is eligible to take part? The competition is open to 5-18 year olds in primary and secondary schools in England, Wales, Scotland and Northern Ireland, in both the private and state sector. In addition, students aged 18 and under in FE College are also eligible to take part. 2. How can the teams be made up? The teams must be key stage specific based on their key stage in the academic year 2015/16, with the exception of key stages 1 and 2, which can be combined. Mixed age groups are permissible within each of the key stage categories, i.e. teams in key stage 3 could include students from years 7, 8 and We are a private school. Can we take part? Yes. All schools are eligible to take part both private and state. 4. We are an all through school. Can we take part? Yes. Students in KS1/KS2, KS3, KS4 and KS5 in secondary phase schools and FE Colleges are eligible to take part in the Tycoon in Schools competition. 5. How do I register my school? The lead teacher must register online at Registration closes at 5pm, 30th September What will I receive and when? All registered schools will be able to download the Tycoon in Schools competition pack, teacher resources and business plan template from 1st June 2015, these will include: Competition timeline Full terms and conditions Frequently asked questions Relevant supporting lesson activities Teachers PowerPoint presentation Business plan template 7. When will we receive our loan? Schools will receive their loans in the week commencing 19th October How do I contact the Tycoon in Schools team? The Tycoon in Schools team can be contacted by or 12

14 FAQs 9. Can I change the loan amount? It is important that you think carefully about how much money you will need to borrow to run and set up your business. Teams must spend time costing out the activity accurately so the correct loan amount is requested in the business plan. Once the business plan has been submitted by 30th September 2015 we will not be able to revise the loan amount. We would encourage schools to carefully plan their business idea and take advantage of borrowing up to 1000 per team entered. 10. What do the students have to do? Students have to come up with a business idea and produce a viable and costed business plan. The teacher will submit the business plan on behalf of the team to the Peter Jones Foundation to apply for a start-up loan of between 50 and 1000 per team. Students will then launch their business and trade for seven weeks from 2nd November 2015 to 18th December 2015 and aim to make a profit. Students will download and submit their Tycoon in Schools evaluation report at the end of the trading period, via What is the full timeline for the competition? The full timeline for the competition can be seen on page 5 of the competition pack. 12. We took part last year. Can we take part this year? Yes, students who took part last year are eligible to take part this year. However, they do need to develop a new business idea; they cannot bid for a start-up loan to support an existing business or one that has been running since last year s competition. You will need to confirm this when completing the business plan template. 13. How many teams can a school enter? Each school can enter as many teams as they like. 14. What is the maximum and minimum size of each team? There is no limit to the size of each team, but each team must adhere to the specified key stage categories. 15. We would like to have mixed year group/key stage teams. The teams must be key stage specific based on their key stage in the academic year 2015/16, with the exception of key stages 1 and 2, which can be combined. Mixed age groups are permissible within each of the key stage categories, i.e. teams in key stage 3 could include students from year 7, 8 and 9. 13

15 FAQs 16. Do we have to submit all the resources we have completed, along with the Tycoon in Schools business plan? No. We are aware of the varying levels of expertise and experience in business and enterprise education in school and therefore have created the resources to support the teams in developing their business idea. The resources are entirely optional and can be used and adapted to meet the needs of the school and team/s. The only compulsory documents to submit are the Tycoon in Schools business plan and evaluation report. 17. Can we use our own business plan and evaluation report templates? No. All entries must use the official Tycoon in Schools business plan and evaluation report templates supplied by the Peter Jones Foundation. Any submissions not using the official Tycoon in Schools templates will not be eligible to enter the competition. 18. How much can the teams borrow? Between 50 and 1000 per team. However, you will need to make sure you have properly costed this and are able to justify why you need this amount to set up your business. 19. How will our Tycoon in Schools business plan/s be judged? What are the criteria? The judges will assess each Tycoon business plan with reference to the following five criteria: (i) Viability the potential success of the business. (ii) Idea the creativity and opportunity identified. (iii) Market the segment and customer base. (iv) Planning financial, marketing and team building. (v) Profitability potential to realise a profit. It is therefore important that students be mindful of the criteria when developing their business ideas and completing the Tycoon in Schools business plan. Please see page 10 of the competition pack for further details on the judging criteria. 20. When will we be informed if we are successful and are through to the trading period? This year, all registrants who have submitted a completed a fully-costed Tycoon in Schools business plan will automatically be through to the trading period. 21. Will we receive individual feedback about our submissions? No, unfortunately, due to the anticipated volume of entries we will not be in a position to provide individual feedback to schools or teams. 14

16 FAQs 22. When will we receive the start-up loan? We will arrange for the start-up loan to be sent directly to the relevant school s bank account in the week commencing 19th October The start-up loan will be administered by the relevant lead teacher at each school, who will give the money to the students based on their Tycoon in Schools business plan submission. 23. When is the trading period? From 2nd November 2015 to 18th December 2015 inclusive. The start-up loan should not be made available to teams until 00:01 on 2nd November Please see the full terms and conditions in the competition pack for further details. 24. Can we pay students a wage out of the start-up loan? Students cannot pay themselves a wage out of the start-up loan. 25. How will you judge the winning teams after the trading period? Each of the trading teams will submit a Tycoon in Schools evaluation report between the 18th December 2015 and 15th January Final submission closes at 5pm, 15th January Only evaluation reports submitted online using the official Peter Jones Foundation template will be eligible for judging purposes. There will be one overall Tycoon in Schools competition winner and awards for each of the following categories: key stage 5, key stage 4, key stage 3 and key stage 1/2. The overall winner will be awarded based on the best overall performance and will need to have made a profit. Please see the competition pack for full details of the criteria, which will be applied for judging purposes. 26. What are the competition categories? The competition categories are key stage specific and all teams must adhere to these. During the judging phase of the competition, a Top Tycoon and runner up will be chosen from each of the competition categories outlined below: Key stage 5 Key stage 4 Key stage 3 Key stage 1/2 One overall winner of the competition will be chosen. 27. When will the finalists schools be notified? February Finalists will be invited to the annual Tycoon in Schools Awards Ceremony, which will take place in London during February/March What do the winners receive? The Tycoon in Schools overall competition winner will receive 1000 of funding to assist in making their business sustainable. 15

17 FAQs 29. When do we pay the original start-up loan back? From the 18th December 2015, teams will need to repay their original start-up loan back to the Peter Jones Foundation via their finance department (ideally by BACS transfer), by 15th January What can we do with the profit once we have paid the start-up loan back? Any net profits following repayment of the start-up loan can be: Reinvested back into the business. Donated to charity. Retained by the school. Invested in the school s Tycoon in Schools project as a legacy for subsequent participants. 31. What happens if we make a loss? With careful business planning the Tycoon in Schools team/s should hopefully not make a loss. However if the business does make a loss, the amount returned can be reduced by the amount of the loss. If money is to be given to charity (as outlined in the business plan) then this cannot be done if the business has made a loss. Any remaining money must be paid back to the Peter Jones Foundation in repayment of part of the loan. The school is not guaranteeing that the start-up loan will be repaid in full. 16

18 Terms and conditions 1. Tycoon in Schools is a competition run by the Peter Jones Foundation. The Peter Jones Foundation is a registered charity (registered charity number: ) and company limited by guarantee (company number: ) with its registered office address at Network House, Third Avenue, Globe Park, Marlow, Buckinghamshire, SL7 1LY. 2. By taking part in the Tycoon in Schools competition you agree to adhere to the terms and conditions listed in this document and the terms set out in the competition pack for Tycoon in Schools 2015 (together the Rules ). Entries/participants in the competition that/who do not comply in full with the Rules may be disqualified. 3. To take part, all participating schools in Tycoon in Schools must register at and follow the application process correctly and comply with the Rules in full and without exception. Only those entries received using the templates provided by the Peter Jones Foundation will be eligible to take part in the competition. Failure to do so may result in disqualification from the competition. 4. The Peter Jones Foundation may amend these Rules without notice, by ing changes to participating schools. 5. The competition is open to 5-18 year olds in primary and secondary schools in England, Wales, Scotland and Northern Ireland from both the private and state sector. In addition students aged 18 and under in Further Education are also eligible to take part. 6. Students who are studying at a Peter Jones Enterprise Academy are eligible to take part in the competition as long as they are 18 years old or under and the business idea submitted is not be the same one as being evidenced for their L3 BTEC course. Eligible Peter Jones Enterprise Academy students taking part in the competition must also comply with all of the Rules without exception including, but not limited to, the 7-week trading period and associated requirements and terms and conditions. 7. Individuals and teams may enter the Tycoon in Schools competition. For those schools selected, a start-up loan of up to a maximum total of 1,000 per team is availa ble. 8. The Competition is in three main phases: Phase 1- those schools that wish to enter the Tycoons in Schools competition must firstly register at Registration closes on 30th September 2015 at Businesses ideas submitted for Tycoon in Schools need to be ideas for a new business (i.e. the business has not already been set-up and/or commenced trading in the school). Previous entrants are eligible to enter as long as they are submitting a new business idea. The lead teacher must submit the business plan/s via the teacher area at by 30th September 2015 at Tycoon in Schools can be contacted directly via at Phase 2 the submitted Tycoon in Schools business plans will be reviewed by a team at the Peter Jones Foundation (that includes Peter Jones CBE). Those schools that submit a costed business plan, with a feasible business idea and are successful in being selected to progress to Phase 3 will receive a start-up loan from the Peter Jones Foundation of up to a maximum total of 1,000 per team; Schools that are successful will be informed week commencing 12th October Unfortunately, due to the volume of anticipated entries the Peter Jones Foundation will not be able to give individual feedback on Tycoon in Schools business plans submitted. Phase 3 - the trading period will run from 2nd November 2015 to 18th December 2015 (both dates inclusive). The funds used to initiate trading should be limited to the start-up loan awarded by the Peter Jones Foundation. Only money generated during these specific dates will be counted for judging purposes. 9. In Phase 2 of the competition, schools must ensure they complete all relevant parts of their Tycoon in Schools business plan (or plans) to be eligible and enter each team s business plan to the Peter Jones Foundation online via the website Submission closes at 17:00 on 30th September Each team must submit only one Tycoon in Schools business plan. Each school may submit as many teams as they wish as long as each one is key stage specific i.e. KS1/KS2 or KS3, KS4 or KS5. The maximum value of the start-up loan will not exceed a total of 1,000 per team. All details regarding the submission of Tycoon in Schools business plans will be provided at each relevant stage of the competition. You can contact the Tycoon in Schools team by at 10. The following matters must be completed for a submitted Tycoon in Schools business plan to be accepted for consideration by the judging panel: each participant or team must complete the official Tycoon in Schools business plan template supplied by the Peter Jones Foundation; and all compulsory elements of the Tycoon in Schools business plan must be completed including providing school bank account details to enable transfer of the loan amount(s) to the school to enable trading to take place. 11. The judges will assess each Tycoon in Schools business plan and participating business by reference to the following five criteria: (i) Viability the potential success of the business. (ii) Idea/concept the creativity and opportunity identified. (iii) Market the segment and customer base. (iv) Planning financial, marketing and team building. (v) Profitability potential to realise a profit. 12. The Tycoon in Schools business plans will be reviewed and judged by a team at the Peter Jones Foundation. The judges include Peter Jones CBE, Peter Jones Foundation staff, and an external independent judge. 17

19 Terms and conditions 13. In Phase 3 of the competition, teams will receive a start-up loan at the discretion of the judges. The start-up loan will be up to a maximum value of 1,000 per school team. The judges decision is final. 14. The Peter Jones Foundation will notify each school week commencing 12th October 2015 as to whether they will receive the full loan amount requested in their business plan/s. The Peter Jones Foundation will not be providing individual feedback to schools or teams, due to the high volume of entries. Each school should inform the parent/ guardian of each student taking part in the Tycoon in Schools competition including the amount of money being lent by the school to that student s/team/teams business idea from the monies loaned to the school by the Peter Jones Foundation (whether or not that student is participating in the competition individually or as part of a team). The Peter Jones Foundation will arrange for the start-up loan to be sent directly to the relevant schools bank accounts in the week commencing the 19th October The total start-up loan will be sent to the finance department in each school (the individual responsible within the finance department will be nominated by each school in advance) the week commencing 19th October 2015 ready for distribution to the relevant team/s. Schools will be responsible for distributing the start-up loan to the individuals, team or teams in accordance with their business plan/s. The start-up loan must not be distributed by the school to the relevant participating students before 00:01 on 2nd November 2015, the start of the trading period. Students must not break the law or gamble using the monies used in the competition (including, but not limited to, the start-up loan received from the Peter Jones Foundation and any monies generated during the competition trading period ). Students are prohibited from paying themselves a wage out of the start-up loan. 16. The start-up loan advanced by the Peter Jones Foundation pursuant to the competition can only be used for the purpose of the competition and only by the nominated competition participants that submitted the Tycoon in Schools business plan to which such funding relates. The purchase of equipment should be related directly to that needed to run the business and to provide the product or services which are required as set out in the business plan. The loan should not be used to subsidise or contribute towards the cost of equipment and machinery, which is used by the school or for individual school departmental use. The loan should not be used to support or subsidise other enterprise or school business competitions and initiatives such as Young Enterprise. Trading must be completed within the 7-week trading period. 17. Phase 3 of the competition (trading) will run from 2nd November 18th December 2015 (both dates inclusive). The funds used to initiate trading should be limited to the start-up loan awarded by the Peter Jones Foundation. Only monies generated during these specified trading dates will be counted for the competition s judging purposes. 18. Each team that participates in Phase 3 of the competition will need to submit their Tycoon in Schools evaluation report (in the form of the template supplied) online via the Tycoon in Schools website by 15th January Please note submission of the Tycoon in Schools evaluation report closes at 17:00 on the 15th January 2016 and there will be no exceptions to this deadline and any Tycoon in Schools evaluation report received after this deadline will not be accepted. 19. The Tycoon in Schools evaluation report will need to be submitted by the lead teacher in relation to the relevant participant(s). The Peter Jones Foundation may request supporting evidence to back-up any claims made in any Tycoon in Schools evaluation report. 20. The Tycoon in Schools evaluation report will be used to help judge and assess the performance of each business, and to select the overall competition winner(s) (referring back to the criteria set out in clause 11 above). There will be one overall Tycoon in Schools competition winner and four special awards for those in each key stage category. The overall winner will be awarded based on the profit made and best overall performance. Please see the Tycoon in Schools competition pack for full details of the criteria, which will be applied for judging purposes. 21. The categories for Tycoon in Schools 2015 are: Tycoon in Schools Overall Competition Winner Key Stage 5 Key Stage 4 Key Stage 3 Key Stage 1/2 There will also be a runner up for each key stage category. 22. Please note that mixed age groups are permissible within each of the key stage categories for example teams in key stage 3 can be made up of students from one year group or a combination of year 7, 8 and 9 as appropriate. Teams in key stage 4 can comprise of year 10 and year 11 students and key stage 5 teams can comprise of year 12 and 13 students. For key stage 1 and 2 students can be mixed across years 1 to 6. Please note the students key stages must be based on the key stage for the academic year The overall competition winner(s) judges will be Peter Jones CBE, members of the Peter Jones Foundation staff, and an external independent judge. The overall winner will be awarded based on the profit made and best overall performance in the view of the judges across the categories outlined in clause

20 Terms and conditions 24. All Tycoons in Schools judges decisions are final. 25. The winning schools will be notified in February 2016 and invited to the annual Tycoon in Schools Awards Ceremony, which will take place in London in February/March It will be the responsibility of the shortlisted schools and colleges to pay all travel costs for students and staff to attend the awards ceremony as required. In addition during the course of the competition any visits and associated travel expenses for adults or students will not be reimbursed by, or be the responsibility of the Peter Jones Foundation. 26. The overall winning school will receive 1,000 of funding, to assist in attempting to make the winning business sustainable. 27. Each school s finance department will be responsible for: (i) collecting the start-up loan back from its students participating in the competition. (ii) repaying the start-up loan in full to the Peter Jones Foundation at the end of the competition via the preferred method being BACS transfer. The process of returning the start-up loan will begin 18th December 2015 and should be completed no later than 15th January Guidelines for the return of funds will be provided to each school s finance department. No interest is being charged on the start-up loan. The start-up loan is expected to be returned by the school. The intention is that with careful business planning the Tycoon in Schools team/s should not make a loss, as the aim of the competition is to make a profit. At the end of the competition the start-up loan will be expected to be returned to the Peter Jones Foundation by the school. Should the business make a loss the amount returned can be reduced by the amount of the loss. If money is to be given to charity (as outlined in the business plan template) then this cannot be done if the business has made a loss. Any remaining monies must be paid back to Tycoon in Schools in repayment of part of the loan. The school is not guaranteeing that the start-up loan will be repaid in full. 28. The Peter Jones Foundation does not accept any responsibility for technical failure or other problems (telephone lines, internet connection, and network, system or provider issues) which results in any entry not being correctly received. 29. The responsibility for the health and safety of young people taking part in the competition rests entirely with the school or college overseeing the activity and the Peter Jones Foundation shall have no responsibility or incur any liability in relation to the same. 30. The Peter Jones Foundation reserves the right to disqualify individuals or teams from the competition if it has reasonable grounds to suspect that there has been a breach of the Rules or otherwise has reason to believe that there was involvement in gambling, fraudulent activities, or otherwise unlawful acts. 31. The Peter Jones Foundation may cancel or suspend the competition for reasons beyond its reasonable control. 32. The Peter Jones Foundation will use the details you have provided to administer this competition. By taking part you give your permission for the Peter Jones Foundation to use the school s contact information to send follow up communication relating to Tycoon in Schools and other related Peter Jones Foundation activities by , post and by telephone. If the school does not want to receive information about related Peter Jones Foundation activities please to opt out. The Peter Jones Foundation will not contact participants individually regarding the competition or about any related Foundation activities without asking for the school s permission. 33. The Peter Jones Foundation reserves the right to use the names of schools and participants for promotional purposes and in the media. You should make sure participants and their parents or guardians are aware that participants names and photographs may be used in this way. 34. Participants will own the intellectual property rights in their entries, but in entering the competition, they agree to grant the Peter Jones Foundation a perpetual, irrevocable licence to use those rights to administer, run and promote the competition. You acknowledge and agree that the TYCOON trade mark and any other intellectual property rights owned or disclosed to you by the Peter Jones Foundation (together the PJF IP ) will at all times remain the property of the Peter Jones Foundation (or its licensors). The Peter Jones Foundation hereby grants to you a nonexclusive, royalty-free licence to use the PJF IP solely for the purpose of participating in the competition. 35. To the extent permitted by law, the Peter Jones Foundation will not accept responsibility for any loss, damage or injury suffered by an entrant resulting from entering in Tycoon in Schools 2015, or by the entrants acceptance of an award, or any damage to any entrant s, or other person s, computer or any other equipment used to upload or download material relating to this competition. 36. No purchase is necessary to enter this competition. 37. These rules are governed by the laws of England and Wales. 38. The Peter Jones Foundation is a registered charity and company limited by guarantee, registered charity number: , company number: with its registered office address at Network House, Third Avenue, Globe Park, Marlow, Buckinghamshire, SL7 1LY 19

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