Profitunity! The student wealth creation challenge
- The challenge
- Can I take part?
- The support you’ll receive
- Innovative ideas
- Programme time line
- The Prince’s Trust
In Profitunity! 2007/08, teams from 10 of the UK’s top universities developed and carried out fundraising strategies to raise money for The Prince’s Trust. Team "State of the Art" from Bristol University were crowned the 2008 Profitunity! champions at the Profitunity! black tie awards event, winning £3,000 in prize money from Ernst & Young in recognition of their achievement.
They beat off stiff competition from 24 student teams and raised nearly £25,000 for The Prince's Trust. The final fundraising total among all the teams reached a staggering £68,000.
Would you like to develop your entrepreneurial skills while raising money for The Prince’s Trust?
This is a unique opportunity to…
Make a real difference – put your talents to the test and support a great cause
Test your business ideas in the real world – find out if they have the potential to turn into reality
Develop your skills – we’ll help you develop your existing skills and acquire new ones
Understand business – you’ll have regular contact with an Ernst & Young business expert providing advice and guidance, plus £500 starting funds
Enhance your CV – our previous participants have found the competition can set them apart in job interviews
Get to know Ernst & Young – find out more about who we are and the career opportunities we offer
Win money – the winning team will receive £3,000
To check out online profiles of two of the competing teams from the 2006/07 Profitunity! click here.
To celebrate the 10th anniversary of Ernst & Young's Global Entrepreneur of the Year programme, we are also giving one Profitunity! team the opportunity to win support from a real life successful entrepreneur The team which wins the Profitunity! Sustainable Business Award will have the opportunity to work with a successful entrepreneur to help develop their business further. After competing in Profitunity! (November 2008- April 2009) the team which wins the Sustainable Business Award can decide how to invest its future profits. So competing in Profitunity! not only gives you the opportunity to support The Prince's Trust in the first instance, but it also gives you the opportunity to get your business venture up and running in the long-term.
To find out more about Entrepeneur of the Year, click here.
The challenge
The 2008/09 challenge is for you and your team to work together to identify, design and carry out a fundraising strategy which will raise as much money as possible for The Prince’s Trust over a five-month period.
Your team will be competing against others from across the UK to raise the most money in the best way possible. The top teams will be invited to London for the final in April 2009. The overall winning team will be decided by a judging panel and will win £3,000 in prize money.
All money raised is donated to The Prince’s Trust.
Julian Barrell, Director of Corporate Fundraising, The Princes Trust said,
"This competition has harnesses the creativity of the student population to help us change the lives of hundreds of disadvantages young people."
Can I take part?
Applications for Profitunity! 2008-2009 must be submitted by 26 October 2008.
The competition this year will be open to students at one of these participating universities:
Birmingham, Bristol, Bath, Cambridge, Durham, Edinburgh, Exeter, Glasgow, Imperial, Kings, Leeds, LSE, Loughborough, Manchester, Newcastle, Nottingham, Oxford, Sheffield, Southampton, UCL, Warwick.
Profitunity! will challenge many of your skills and help you acquire new ones. If you’re looking to develop your commercial awareness, analytical ability and communication skills, this could be the challenge for you.
The support you’ll receive
Ernst & Young business mentors and The Prince’s Trust will provide your team with the necessary tools and knowledge you need to write a business plan detailing your fundraising ideas. Once the plan is approved, your team will receive an investment of up to £500 to turn your fundraising ideas into reality.
Throughout the competition, you’ll have support from a dedicated team of Ernst & Young and Prince’s Trust mentors. You’ll attend monthly meetings held on campus, to discuss progress, find solutions, debate ideas, and develop your skills.
The individual contributions of team members are observed throughout the competition, and you can get valuable advice and feedback on your business and interpersonal skills.
Innovative ideas
‘Wrapped Up’ from LSE organised a fashion show. The event, attended by more than 400 people, enabled up-and-coming models and fashion entrepreneurs to showcase their work. The team managed to get all of the models and fashion houses to donate their time and products for free, maximising the return for The Prince's Trust.
‘Tailor Made’ from Southampton University organised and broke the Guinness Book of Records for the most amount of Smurfs in one room at one time.
‘Phoenix’ from Durham University organised a ‘Silent Disco’.
Programme time line
Deadline for applications: 26 October 2008
Launch event: 7 November 2008
Fundraising activities: November 2007 – April 2009
Final and Awards event: April 2009
Profitunity! is not designed to take over your life. We would expect you to spend around 10 hours on it each month, for five months. For more information on Profitunity! please read the terms and conditions, contact us on 0800 289 208 or e-mail 
profitunity@uk.ey.com
"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
The Prince’s Trust
The Prince’s Trust aims to help over 100 young people everyday.
The Prince’s Trust was formed in 1976 and helps young people overcome barriers and get their lives working. The Prince’s Trust focuses its efforts on those who've struggled at school, been in care, been in trouble with the law, or are long-term unemployed. The Trust is the UK's leading youth charity, offering a range of opportunities including training, personal development, business start up support, mentoring and advice.
Real stories
With support from The Prince’s Trust Vincent Jelinek runs a successful furniture and construction company.
Daniele Hromek set up ‘Busting Diva’, a lifestyle services business, with support from The Prince’s Trust.
Ernst & Young and community investment
In 2005 Ernst & Young became corporate patron of the The Prince’s Trust.
Profitunity! is part of Ernst & Young’s commitment to investing in the community – click here for full details of our Community Investment programme.
- Demonstrate Ernst & Young’s values to the student population – champion entrepreneurship and commitment to corporate responsibility.
"What struck me was the enthusiasm of each and every team to help other people, the fortitude and team work demonstrated. Profitunity! is one of those rare events where there are no losers, every participant has developed their skills, supported The Trust and learnt about business"Lord Young, Chairman Entrepreneur Of the Year
"This is a fantastic example of partnership between a charity and a company that really benefits both parties. The Prince's Trust has not previously worked with undergraduates, and Profitunity! has enabled us to tell our story to some of the future leaders of the UK. We’ve also been able to raise a significant sum to help change young lives – to give the chance to young people who may not have had the opportunity to go to university themselves."Tara Leathers, Head of Corporate Fundraising, The Prince's Trust
Ernst & Young sponsoring Partner Peter Matthews said,
"This year’s teams have produced truly innovative and excellent results, which will benefit the many young people that the Princes Trust aims to help each year."Not only have teams gained real and valuable insights into the planning, design and execution of a successful business venture, they also have developed and hones the skills often looked for by future employers. Many have also built links with their wider communities – an increasing attribute for any business."
How to enter
Applications for Profitunity! 2008/09 are now closed.
