Since last May, the Year 10 students from secondary schools in the districts of Ashfield, Mansfield and Bolsover have been developing their business ideas. They showcased their products ideas last month, where they were judged by a panel of local business owners, school governors, and politicians, including Mansfield's executive mayor. As part of their presentations, the students created television adverts, radio jingles and print adverts in addition to a “Dragon's Den”-type pitch.

Out of the 22 teams judged by the panel, one winner from each school has been shortlisted for the awards ceremony. In addition to an overall winner the twelve finalists can win awards in other categories including Most Viable Business Idea, Most Creative Idea, Best TV Advert, and Most Resourceful Team, amongst others. There will be 28 awards presented on the night. Winners in each category will receive a trophy, styled like a real “Oscar”. Each of the 12 shortlisted teams will receive a £100 grant to help them take forward their business idea. One winning team from each District will win a trip to Alton Towers. The Overall Winning Team will receive a trip to New York including visits to Reuters, The Bank of New York, taking in a baseball game, and other fun activities.

Over two hundred people are expected at the Enterprise Oscars. The event has been coordinated by No Limits, a local company that has been working with LEO for the past two and a half years to improve the delivery of enterprise education within secondary schools. LEO (Local Enterprise Organisation) provides free support to start-up and existing businesses within Ashfield, Mansfield and Bolsover Districts and funds the Enterprise Academy work done by No Limits.