Money Sense workshop

On Wednesday 7th March 2018, the Mathematics department in partnership with NatWest bank delivered its first Money Sense workshop on the theme of ‘Crowdfunding’ to students from the IB Diploma programme.

A total of four staff from the NatWest and RBS Bank supported the event which was held in the LRC. Students were grouped into four groups with each group supported by a member of the bank. Each group were asked to develop their own project idea which could be funded by crowdfunding. Using online resources and well known crowdfunding websites, the students discussed their ideas and produced a business plan which included costs, expenses a

nd projected profits for the first year. Students also had to decide on the types of pledges and rewards that they would use to incentivise potential investors.

For the finale, each group had to present their idea to the judges (bank staff) and to their peers, in true ‘Dragon’s Den’ style, in order to persuade them to invest into their business idea. The ideas presented by each group were extremely creative and included ideas such as:

  1. Foodwatch – An app which is capable of identifying calorie count, fats, proteins, sugar and fat content with one photo of the food product.
  2. Safe tap – A GPS device which can be placed within valuables such as watches and necklaces and used to track stolen or lost items as well as send SOS messages in the event of an emergency.
  3. Nuts without regrets – A project designed to find an alternative to nuts that cause allergic reaction, by means of genetically modifying them into nuts without causing an allergic reaction.
  4. Donate to educate – A charity project to help raise money for a new school with promises to reward investors with recognition by naming classrooms, furniture and the even the school after them.

The event ended with constructive feedback on each presentation and with each student being issued with a certificate by the Director and Head of School.

The event was the first of its kind at the King Fahad Academy and a huge success for all involved. We hope that the links between the school and the bank continue and that further events can be organised together in the future.

Jillur Hoque     (Head of Mathematics)