Results of Russian Young Entrepreneur and Financial Literacy Olympiad summed up

The Olympiad was organised for children to learn the fundamentals of business thinking, financial literacy and correct behaviour to be protected against unfair practices and fraudsters in the financial market, as well as to raise children’s interest in studying these topics. Schoolchildren were to deal with tasks modelling real life situations and business cases and practised to compare and select high-quality financial products and instruments.

Young entrepreneurs found it easiest to tackle tasks for determining family budget items and choosing the best strategy of behaviour when facing fraudsters — these tasks were solved by 90% of the participants. Issues related to developing the most beneficial cooperation model for building a personal blog turned out to be the hardest ones, with only 10–20% of the schoolchildren able to cope with them. The topic of the recycling of old stuff to earn money was a challenge for 70% of the pupils.

The project was implemented by the online education platform Uchi.ru, the Bank of Russia, and the Financial Literacy Development Association, with the engagement of the national project Small and Medium-sized Enterprises and Support for Individual Entrepreneurship Initiatives and the Ministry of Economic Development of Russia.