Jan 3 2013 by Caitlin Black, Harrow Observer
A GROUP of young Alan Sugars are flying up the business ladder after winning two business awards in one week.
Students from Hatch End High School, Headstone Lane, Harrow, took part in the Young Enterprise Competition, a programme for youngsters to form a business, raise capital and create and sell products in an attempt to generate profits.
The Hatch End team – called LeadR – received two awards for their business ideas.
Elected managing director of LeadR, Ageeban Kobalaigam, 17, of Green Lane, Stanmore, said: “I am so pleased with the success we have achieved so far.
“The group formed in September last year. Our teachers said we should enter Young Enterprise, so we told our friends about the competition and formed a group. We then came up with a name and slogan for our business, which was LeadR – we lead, others follow.”
The group, which is made up of 25 year 12 students, contacted a USB manufacturer in China who helped the students create novelty USB memory card sticks, such as with Gangnam Style on it.
The group sold 100 sticks within a week, making a huge profit.
They reinvested their profits into a new product, which uses solar energy to charge mobile phones and digital devices.
Ageeban, who studies economics, accounting, maths and IT, said: “Our market research told us that similar products exists in the market, therefore we contacted our manufacture in China who then helped us improve the current product so that it is much more efficient.”
Team LeadR was awarded a silver medal for its progress last month at the North West London Interim Showcase at Canons High School, Shaldon Road, Edgware, then a few days later was awarded the ‘Most Innovative Product’ certificate at a trade fair at competition between seven schools at Greenford Market a few days later.
Ageeban added: “I was very pleased that we won the award and it made me believe that we have the potential to win many more in the future and be a very successful company.”
The group will be attending more trade fairs at Brent Cross shopping centre and Old Spitalfields Market and has launched a website.
If LeadR win the regional finals in March 2013, it will go through to the national finals then potentially onto the European round, which is the final.
For more information on LeadR go to www.leadrltd.com