The Make a Mark with a Tenner Challenge loans students £10 and gives them one month to return the investment and, hopefully, make a profit. Social responsibility is also on the agenda as participants are encouraged to think about the social and environmental impact of their ventures, as well as their profit-making potential.

The Challenge is open to schools and further education colleges across the UK, and the 50 most profitable and 50 most socially responsible ventures will be rewarded with the chance to win £1,000.

Applications for this year's fund have exceeded the 10,000 limit as the Challenge proves hugely popular with students and teachers alike.

Andrew Reynolds, who is donating the money to fund the Challenge, claims it is vital to stimulate entrepreneurship in the younger generation. He said:

"We need to stop being afraid of our young and stop putting them down all the time. I want to prove that they're far from being the worst in Europe, with the right encouragement they have the potential to be the best."