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Xero mentors next generation of entrepreneurs

Posted 5 years ago in Xero news by Amanda Armstrong

Xero sponsors the Young Enterprise Trust (YET), an orgnisation that helps to inspire, educate and transform secondary school students through business enterprise experiences.

Young Enterprise TrustYoung Enterprise TrustYoung Enterprise Trust

For the first time, accounting software leader Xero is proud to be one of the hosts in the annual New Zealand Enterprise in Action weekend. This is an event combining two challenges – the Global Enterprise Challenge (GEC), an online international enterprise skills challenge, and the New Zealand heat of the FedEx/Junior Achievement International Trade Challenge (ITA), which helps students prepare for the future. For the first time, Xero will be actively involved in mentoring New Zealand’s next generation of entrepreneurs.

“The GEC is an international online enterprise skills competition for high school students. It gives students the opportunity to develop their knowledge and experience of enterprise and business, by providing an environment where they can apply skills and improve their understanding in practical ways.”

Ten New Zealand teams will compete in the GEC with 16 other countries concurrently, within a 12-hour period on Saturday 15 June. As part of our sponsorship, Xero will host and mentor one team. At 9am all teams, and mentors, will meet at Massey University’s North Shore campus to receive the same challenge. A recent year’s example was:“Your challenge is to produce a working model of an innovative product or service that will reduce food waste in your country and help to alleviate starvation in one of the world’s poorest countries”. They have twelve hours to create a pitch and business plan, and then submit to the judges. The challenge for Junior Achievement ITA will then be given.

Junior Achievement programs ensure students’ potential is not only met, but exceeded. In addition to showing students the power of believing in themselves, and teaching the crucial skills of work readiness, entrepreneurship, and financial literacy, a cornerstone of JA programs is the importance of fair and honest competition.

The next morning at 8.00am, the team and mentors will meet at Xero’s Auckland office to work on the ITA challenge. A previous years challenge was “Create a market entry strategy to export carpets to Egypt”.

Winners for the ITA challenge will be announced on the Monday and will have the opportunity to travel to Hong Kong to compete against teams from throughout the Asia/Pacific region. Teams will find out on Tuesday who won the GEC challenge.

It’s going to be a big weekend for both the students and Xero mentors but, win or lose, the involvement in such an amazing scheme will be rewarding as this will ensure New Zealand continues to produce innovative entrepreneurs.


Anja O'Connor
June 11, 2013 at 9.46 am

This is brilliant, taking it a lot further than I could have imagined!
Hopefully schools outside the main centers also get a chance … which will see a whole lot of fundraising going on to enable teams to get to the North Shore! That would need a cashbook on Xero too 😉

David Farquhar
June 14, 2013 at 5.01 pm

I have several students participate over the years in the competition, and they have ALWAYS enjoyed it. Very hard work, intense pressure, but huge buzz and the chance for some incredible input from fantastic mentors like Xero. The possibility of travelling overseas to Hong Kong also appeals!! Go Rangitoto College students – Hugh and Louise!

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