Gaggero Foundation supports 300 students through Young Enterprise Gibraltar
For the fourth year running the Gaggero Foundation has donated £50,000 to support Young Enterprise in Gibraltar. The scheme was introduced to Gibraltar from the UK in 2008, initially at the Gibraltar College, and it enables students in full time education to get hands-on experience of what it is like to set up and run a business.
Young Enterprise is an extracurricular activity which students undertake voluntarily in addition to their formal studies. They decide what product or service they wish to provide the local community and then they raise capital, issue shares, elect a board of directors and form a company. The ideas and decisions – good and bad – are taken by the students, but they are supported by link teachers who guide them and also by local volunteers from the business community who challenge them on the decisions they make and act as mentors.
The success of their efforts is judged in May each year when students must liquidate their companies, write a detailed company report which must include financial statements highlighting the profits they have achieved. At an awards ceremony each team also has to make a public presentation about their companies and what they achieved. Read full story