The project will take approximately 5 months from start to finish. Below is the proposed timeline and it is critical that all participating schools try to keep to this timeline so the children from across the different countries are able to share their ideas at each stage of the project with each other.
There are set stages from establishing their company, to researching, designing and making a prototype of their product, to securing the funds in their funds to allow them to begin to manufacture and market the product to eventually being able to sell their products, create profit, reinvest their profit in manufacturing more products to try and become the most profitable company team. The project will end with a final presentation to the 'Dragons' who invested in their company where they will report on their successes and failures.
Each stage will require teacher input to discuss with the children the key entrepreneurial skills and guide the children through the critical stages of establishing and running a company. They will need input from local expertise and each participating school can organise their own local entrepreneurs, designers, bankers and local business people to come in and talk with the children to inspire and guide them in the decisions they are making in their teams.
Through each stage there is real opportunity for teachers to embed this learning alongside the teaching of English, mathematics, design and technology and the development of key skills such as IT skills, communication and collaboration skills, problem-solving skills and most importantly presentation and team skills. They will need to be taught about profit and loss and business acumen and develop an awareness of how to market a product and the vital importance of meeting deadlines.
Stage | Element | Description of task | Outcome | Link schools contact | Timeline |
| Stage 1 | Company formation
| 1. Agree company groups 2. Choose product 3. Add biographies to 'About Me' on profile and as first entry to personal blogs. 4. Meet other schools' team members via Skype for Business 5. Email biographies to each other | Company formed | Children introduce themselves to each other
| October 31st - November 6th 2016 |
| Stage 2 | Logo and slogan design
| 1. Design logo 2. Design slogan 3. Post to Team Sites | Word document with logo and slogan design | Review each other's logos and slogans
| November 7th - 20th 2016 |
| Stage 3 | Product research
| 1. Research ideas online 2. Sketch ideas/designs 3. Work out how to build/find recipes 4. Agree materials needed 5. Cost product build | Word document with ideas, designs, materials and costings on company site | Discuss designs
| November 21st to 4th December 2016 |
| Stage 4 | Prototype
| 1. Make prototype | Post photos of prototype on company site | View and discuss each other's prototypes
| December 5th - 18th 2016 |
| Stage 5 | Market research
| 1. Create questionnaire 2. Undertake survey of children in school using questionnaire and prototype 3. Analyse results | Questionnaire designed Results document in Word posted on company site | Decide any changes necessary to produce based on results | December 19th - January 8th 2017 |
| Stage 6 | Company report | 1. Complete the template using all the information from stage 2-5 | Written report in Word posted to company site | Share reports on team sites and discuss each one | January 9th 2016 to January 15th 2017 |
| Stage 7 | Dragons den | 1. Prepare presentation 2. Present in order to acquire funds | Group presentation to 'Dragon's Den | Agree main points for presentation | January 16th to January 22nd 2017 |
| Stage 8 | Advertising and Ordering | 1. Design posters 2. Write letters 3. Create film commercial 4. Create a website 5. Order materials | Advertising stuck up/posted/played/live for potential buyers to view | Comment on each other's advertising outcomes | From January 23rd 2017 - ongoing throughout sales weeks |
| Stage 9 | Production and sales | 1. Order materials and manufacture 2. Take photos of progress 3. Post links on where to purchase materials 4. Keep accounts in spreadsheet | Products made Photos posted on company site Links on site Accounts posted on site | Discuss selling techniques | Sales run from February 6th 2017 through to April 24th 2017 |
| Stage 10 | Final Report Submitted | At end of trading: 1. Produce written report individually 2. Prepare presentation | Reports posted in company site Present to each other | Present to each other via video conference | April 24th 2017 reports submitted
April 2017 shortlisting will take place |
