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Event Reports

Dragons’ Den Competition.

 

This year saw the launch of a new and exciting House and Priory Association venture, "The Dragons’ Den Challenge". Students from all Year groups were challenged to create a business proposal which would allow them to access funding to realise a unique business idea.

 

The competition started in module 3 with students submitting their initial plans. The business ideas where collated and sorted. The best of these were selected to face ‘The Dragons’ in a filmed evening event.

 

A total of 23 plans were submitted ( a total of 88 students were involved). The teams represented all Year groups including 6th form in the initial stage. It is also worth noting that the teams consisted different forms, Houses and Year groups.

 

‘The Dragons’ were teaching staff, Priory Association members and business professionals. Our external business professional, Jacqui Thompson, was particularly qualified to judge, having promoted her own business idea on the real ‘Dragons Den’ television show.

 

The teams had 5 minutes to present and sell their idea to ‘The Dragons’ in order to access funding, supplied by the Priory Association.

 

In total four teams were successful in front of the panel of Dragons’. These four teams are currently in business and producing and selling products around the school site.

Of the four teams we have one team making unique one-off jewellery items, one team acquiring and selling second hand books, and one team making unique chalk board bag tags, greeting cards and door signs.

 

The team that are making chalk boards ‘Chalk it up’ are currently liaising with an external art gallery in the hope that their products can be sold there also.

 

The ambition is that these teams will be able to turn a profit, return the capital investment to the Priory Association and use the profit made to support a charity or worthy cause. The teams themselves will ultimately decide how the profit should be distributed.

 

During module 6 trading for this year will stop. Once again the teams will have to face the panel of dragons to explain how their company faired in the hectic and bustling consumer- driven market, return the seed capital and explain where the profits will go, if any.

This has been a wonderful opportunity for students to develop team building and leadership skills as well as give support to worthy charities.

 

We are excited to see how the teams have coped with the challenges and look forward to running this fantastic event next year.

    The Priory Federation of Academies, Lincoln