Young entrepreneurs compete for global honours

Students in action at last year's Junior Achievement International Trade Challenge, designed to give students the chance to learn about international trade. Photo / Supplied

New Zealand's brightest young entrepreneurs will go head-to-head in Auckland this weekend for a chance to stake a claim in the global business world.

More than 80 aspiring teenagers will gather at Massey University Albany tomorrow to take part in the Junior Achievement International Trade Challenge (ITC), designed to give students the opportunity to learn about international trade.

The 16-19-year olds will be put in teams and asked to devise a market entry plan, product prototype and multimedia presentation.

Last year, groups were set the task of producing a wool-based product to export to Sweden. One proposals included 'Woolpaper', a fire-resistant wallpaper that doubled as insulation.

Minors, now studying marketing and management, said going through the competiton ignited in him a passion for business.

"That time really changed my life and set in stone what I wanted to do. Starting a business, finding problems and solving them, that's what I want to spend my life doing.

"The entire process had a huge impact on me."

Six places are on offer to represent New Zealand at the Asia Pacific Final in Hong Kong in August, a challenge the New Zealand team won two years ago.

The event is sponsored by the Young Enterprise Trust and FedEx Express.

Kim Garner, FedEx Australasia managing director, said the event is about fostering entrepreneurial skills to help set students on the path to success in the global business world.

"The program aims to help cultivate the business minds of future entrepreneurs," she said.

"We believe our participation helps deliver key values to the students, and provides them with the opportunity to acquire important real-life skills such as teamwork, leadership, communication, interpersonal negotiation, marketing, and public-speaking."

Prior to the Hong Kong final, the six finalists will participate in a two-day training workshop.

The International Trade Challenge is now in its fourth year in New Zealand.

Students chosen to compete come from schools running Young Enterprise Trust programmes. The Trust is linked in with 50 per cent of New Zealand schools and networked with over 43,000 students last year.

Its vision is "to inspire, educate and transform students through enterprise experience".

Team New Zealand will compete in Bangkok for prizes of $2,000 each to the first-place team, $1,500 each to the second-place team, and $1,000 each to the third-place team.