Hogan Lovells Welcomes Mosaic APAX Enterprise Challenge Grand Final 2012 and HRH Prince of Wales
15 March 2012
LONDON, 15 March 2012 - Hogan Lovells today hosted the Grand Final of the Mosaic APAX Enterprise Challenge 2012, in the presence of HRH The Prince of Wales.
Now in its 4th year, the Enterprise Challenge is run by Mosaic, a campaign founded by HRH The Prince of Wales, which forms part of Business in the Community. Mosaic is Hogan Lovells' pro bono client. Mosaic is an initiative championed by Muslims which aims to raise the aspirations of young people from disadvantaged backgrounds growing up in our most deprived communities through exposure to positive role models and mentoring.
The annual Enterprise Challenge is a national competition sponsored by the APAX Foundation and the Department of Communities designed to give 11-16 year olds first-hand experience of the world of business and encourage enterprise skills, with guidance from experienced business mentors, including Hogan Lovells. It tests school students' abilities to understand key business concepts and to present a unique business idea to a judging panel of business experts, including Co-CEO of Hogan Lovells David Harris and Hogan Lovells' International Pro Bono and Community Investment Manager Yasmin Waljee OBE, and HRH the Prince of Wales.
Five teams beat 2,000 young people from more than 50 schools, to reach the Grand Final and battle for a top prize of £2,500 cash for their school, plus £500 seed funding to turn their idea into reality. The Grand Final was the culmination of months of hard work by the students as they progressed through the qualifying stages of the Challenge by competing to generate the highest possible score in a unique online business simulation game, and producing an ethical business strategy with guidance from their business mentors. The winners, Southfields Academy, also received a year of mentoring from Apax Private Equity Partners to help them get their business off the ground.
Commenting on the competition Yasmin Waljee OBE, Hogan Lovells' International Pro Bono and Community Investment Manager, who is on the Board of Mosaic, said:
"Mosaic helps British Muslims successful in their own field to give back to the community by bringing them together with young Muslims and their peers growing up in our most disadvantaged communities where they can act as positive role models and mentors. I am glad that Hogan Lovells could play a part in identifying and supporting individuals to become mentors and in raising the aspirations of young Muslims and their peers through supporting and hosting the Enterprise Challenge."
Jonathan Freeman, Director, Mosaic said:
“Each year we are blown away by how creative and enterprising young people can be and this year is no exception. This competition is all about equipping young people with the skills confidence and ambition to turn their ideas into reality while exposing them to realistic role models from the world of business. Entrepreneurship builds self-confidence in young people, while fostering a can-do attitude - some of the most valuable traits to cultivate in young people in this economic climate. We look forward to seeing the winners develop their business.”
Mosaic was founded by HRH The Prince of Wales in 2007. Convened by Business in the Community, Mosaic creates opportunities for young people of all backgrounds growing up in our most deprived communities, championed by Muslims and harnessing the power of positive thinking. www.mosaicnetwork.co.uk
About the Mosaic Enterprise Challenge
For more information about Mosaic and the competition visit http://www.mosaicnetwork.co.uk/en_gb/portal
About Business in the Community
Business in the Community is a business-led charity with a growing membership of over 850 companies. We work locally and nationally through 11 regional teams and internationally with 115 global partners. With a further 10,700 engaged in our campaigns and an employee reach of 16.8 million - we are one of the largest and most influential leadership networks focused on driving responsible business practice. We offer our members a range of practical information, tools, training and resources to help them transform their businesses and integrate responsible practices into their operations. And we ask our members to work in partnership with us to help transform communities and tackle serious social issues where business can make a real difference.
Business in the Community is one of the Prince’s Charities, a group of not-for-profit organisations of which The Prince of Wales is President. www.bitc.org.uk