PALMA, 21 (EUROPA PRESS)
The program for the 16th edition of Young Business Talents has opened the registration process, which will be active until October 21, for students from the Balearic Islands between 14 and 21 years old who are in their final year of high school, high school, or vocational training.
The organizers stated in a press release on Monday that the competition will begin in November, combining several online phases conducted in the classroom with the support of their teachers, and will culminate in a large in-person final in Madrid in March.
At the final, titled 'Spain's Best Virtual Entrepreneurs,' the finalists will share the experience with other students from across Spain. The winners will distribute more than 10,000 euros in prizes among students and teachers, in addition to certificates of merit.
Registration for the competition is free. Teams from each school will receive the business management simulator developed by Praxis MMT to participate, a tool valued at over 3,000 euros.
Young Business Talents is a competition where participants will test their business skills against young people from all autonomous communities. The initiative allows participants to take the helm of their own virtual company, experience firsthand how a business works, and demonstrate their entrepreneurial talent.
Students will work in teams and act as executives, managing a company in the automotive sector with a business management simulator.
They will have to develop successive management plans for their companies and sell different vehicle models, while making the best decisions in the areas of marketing, sales, operations, production, corporate social responsibility, and finance, in order to ensure their company achieves the highest financial returns compared to the other participants.
The decisions they make will have consequences for their companies' performance, as teams will compete against each other in a virtual market where they must stay one step ahead of their rivals and adapt their strategy to achieve the best results.
"Young people need much more than theoretical knowledge to successfully navigate their academic and professional future. They must learn to analyze, make decisions, solve problems, work in teams, adapt to change, and, above all, know how to apply what they learn," emphasized Nuño Nogués, director of Young Business Talents.
For teachers, Young Business Talents offers a tool that allows them to bring the business world into the classroom in a simple, practical, and motivating way.
Nogués pointed out that the program "helps make classes more dynamic, encourages greater participation, and makes concepts that can seem abstract easier to understand through experience."
In the last edition, a total of 127 young students from four schools in the Balearic Islands participated in the program. They competed against 11,187 young people from 406 schools across Spain. The most represented autonomous communities were Andalusia, Galicia, Catalonia, the Community of Madrid, and Castile and León.