Pupils demonstrate entrepreneurial skills

In an exciting round of the €7 Cash@School competition, students from a total of four schools in the Kufstein district and, for the first time, the Kitzbühel district took on the following challenge: with a starting capital of just seven euros, they had seven weeks to develop and implement their own business ideas. Despite the low budget, there were unlimited opportunities. This time, 30 teams from the HAK/HAS Kitzbühel, the Tiroler Fachberufsschule Kufstein, the HLW Kufstein and the International School Kufstein took part. The young entrepreneurs succeeded in generating a total profit of EUR 10,390.34 through their projects, which the teams donated to various charitable organizations of their choice. The fifth round of the competition was therefore also a complete success.

PITCH PRESENTATIONS AS AN INTRODUCTION

In addition to practical implementation, the focus was also on professional presentations. The students received tips for a convincing elevator pitch and took part in preliminary decisions at their schools. On February 1, 2024, the 14 best teams presented their innovative business models in a five-minute pitch at the grand finale in the “Festsaal” (Festivities Hall) of Kufstein University, which was held as a Green Event Tirol for the first time this year. An expert jury, consisting of representatives of the long-standing project partners, assessed the teams in the categories of business idea, market development, implementation and project success.

THE THREE MOST SUCCESSFUL PROJECTS 

Third place went to the Kitzbühel Light Art team, which produced individually designed candles in various motifs and colors. They received prize money of 150 euros. Team La'rancia was delighted with second place and 350 euros in prize money. Their chemical-free scented sachets with lavender or orange-cinnamon scents were very well received. The SoftCloud team impressed the jury with their production of sustainable and reusable make-up remover pads, washcloths and wash sponges, securing 600 euros in prize money and first place in the competition. Once again, all teams had the opportunity to submit project videos in which they presented their projects. The project video by the Kitzbühel Light Art team received the special Best Video prize and 100 euros in prize money.

PROJECT IDEA WITH A FUTURE

Dipl.-Kfm. Karin Steiner initiated the 7€ Cash project back in 2014 for the Business Management degree program at Kufstein University. In cooperation with i.ku - Innovation Platform Kufstein - the project was also introduced as a 7€ Cash@School version for students in 2018.  “Since the beginning, we have welcomed 159 teams with 647 young entrepreneurs to the University of Applied Sciences, who presented their projects to the expert jury,” said Karin Steiner. “This resulted in a total profit of exactly 66,178.12 euros, all of which was distributed to charitable projects. I am always impressed by the commitment and entrepreneurial ability with which the students take on this challenge. I would particularly like to take this opportunity to thank the teachers who made this collaboration possible. Many thanks also go to our supporting partners.”