Peter Jones, who last year launched an angry tirade against bureaucracy in schools, has launched his own version of the young enterprise scheme he used to run as part of a government-backed organisation.
The Dragons' Den star has set up Tycoon in Schools through which, with the help of £100,000 of his own money, pupils will have one month to start a business and make a profit.
At the close of the competition, students will repay their original loans to the 'Tycoon Bank', and remaining profits will be used by the school or donated to charity.
Jones has form in this area. He previously ran Tycoon Tenner, also known as Tenner and Make Your Mark With A Tenner, as part of his leadership of the now dufunct government-backed agency Enterprise UK.
In January, it was announced that Tenner was being put on hold and a few days later, Jones angrily tweeted: "Anyone who try's [sic] to prevent encouraging enterprise in schools must be sidelined or sacked.
BusinessZone.co.uk has spoken to Cedric Kennedy, a trustee at Enterprise UK, who revealed that an announcement will be made on 6 July about which organisation is taking over the running of Tenner.
When questioned about the impact of the launch of Peter Jones' new scheme, he said "anything which supports young enterprise is welcome". However, he added, "Tenner has been running for a long time and has substantial support, so we have a bit of a head start on Peter Jones".