Eighty young and hungry entrepreneurs, who may one day shape this country’s future economic landscape, are set to converge in Auckland next weekend to test their business acumen and take part in two international competitions; the New Zealand heat of the FedEx Express/Junior Achievement International Trade Challenge (FedEx/JA ITC) and the Global Enterprise Challenge.
The students, aged between 16-18 years, will take part in the Young Enterprise Trust’s ‘Enterprise in Action’ weekend, which will be formally opened by Economic Development Minister Steven Joyce. The stakes are high, as the students are vying to win one of six places on the New Zealand team to compete at the FedEx/JA ITC Asia Pacific Final in Hong Kong in August.
FedEx Express, a subsidiary of FedEx Corp. (NYSE: FDX) and the world’s largest express transportation company, has sponsored the FedEx/JA ITC for the past five years in New Zealand. Since 2007, the FedEx/JA International Trade Challenge has benefitted more than 8,000 students in nine Asia Pacific countries, including more than 240 students from schools throughout New Zealand, with invaluable insight into global trade.
“New Zealand has produced many entrepreneurs who have created successful global brands, and the FedEx/JA International Trade Challenge aims to support that tradition by providing a platform for our next generation to learn about international trade and prepare themselves to compete on a global level,” said Kim Garner, managing director, FedEx Australasia.
“FedEx believes it is paramount for companies, especially the local small and medium-sized companies, to be global in their outlook. As budding entrepreneurs, these students need to develop a global mind-set and understand the economic, social and cultural complexities of different countries to be successful on the global stage.”
In the FedEx/JA ITC challenge, students are placed in teams and tasked to develop a market entry strategy for a prototype product or service and present it a multi-media format—all within a few hours. A judging panel comprising business leaders and past challenge winners will evaluate the projects and select the six winning students.
Before heading to Hong Kong, the six will participate in a two-day training workshop in early August at the FedEx facility in Auckland to prepare them for the Asia-Pacific regional final later that month.
To qualify to attend the weekend, all students must be taking part in The Lion Foundation Young Enterprise Scheme, which sees them create and run a new business for a year. More than 500 new businesses have been created this year through the programme.
Terry Shubkin, CEO of the Young Enterprise Trust, said, “Our Enterprise in Action weekend is an incredible opportunity for budding entrepreneurs to put the business skills they have been learning from the programme to the test in a real pressure cooker environment and take part in two very prestigious international challenges. We’ve had tremendous support from the business community who see this weekend event as a way of nurturing the future business minds of tomorrow.”
Minister Joyce, who also holds the Science & Innovation and Tertiary Education, Skills & Employment portfolios, is the guest of honour at the Enterprise in Action weekend.
Key dates Enterprise in Action and FedEx/JA International Trade Challenge:
Stage 1, 15-17 June 80 NZ students compete in regional heat at Massey University Albany, Auckland
Stage 2, 3-4 August Team NZ attend a two-day workshop in Auckland to hone their skills for the FedEx ITC Asia Pacific Final
Stage 3, 19-21 August Team of six represent NZ in Hong Kong at the FedEx Asia Pacific finals
About Young Enterprise Trust and Global Enterprise Challenge
Young Enterprise Trust has been working with schools throughout New Zealand for over 30 years. It has a range of enterprise education programmes and financial literacy resources available for students of all ages. The Trust is a registered charity and in 2012 connected with more than 50,000 students.
About FedEx Express
FedEx Express is the world's largest express transportation company, providing fast and reliable delivery to every U.S. address and to more than 220 countries and territories. FedEx Express uses a global air-and-ground network to speed delivery of time-sensitive shipments, by a definite time and date with a money-back guarantee*.
About FedEx Corp.
FedEx Corp. (NYSE: FDX) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. With annual revenues of $44 billion, the company offers integrated business applications through operating companies competing collectively and managed collaboratively, under the respected FedEx brand. Consistently ranked among the world's most admired and trusted employers, FedEx inspires its more than 300,000 team members to remain "absolutely, positively" focused on safety, the highest ethical and professional standards and the needs of their customers and communities. For more information, visit news.fedex.com.
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