Entrepreneurship@EIT Young Enterprise Fund

EIT is committed to the development of youth entrepreneurship in Hawke's Bay

The Entrepreneurship@EIT Young Enterprise Fund has been established to provide a vehicle for funding to support Hawkes Bay secondary school teams participating in the Young Enterprise Scheme (YES).

The objective of the fund is to provide a means by which teams who cannot fund their business from their own resources can access funding (to a limit of $500 per team) to contribute to the development and launch their product or service.

All contributions received are deposited with Westpac Bank. EIT holds the account on behalf of contributors.

School teams seeking funding for their business must apply in writing and present their business case to a panel of judges.

If the team is successful in obtaining grant funding, funds will be disbursed to the team's YES bank account provided by ANZ Bank (funds will not be disbursed in cash or to an account other than the YES account provided by ANZ Bank).

Teams must account to their school for expenditure incurred and receipts for all expenditure are required.

The fund, disbursements, and teams' expenditure will be audited to ensure the funding process is robust and funds are being used for the purposes for which the fund has been established.

Funds will be used to support school teams who have entered the Young Enterprise Scheme challenge in Hawke's Bay - in particular to meet funding shortfall (to a maximum of $500) in order to enable teams to successfully develop their business