The Million Makers campaign tasks teams of employees with converting a £1,500 investment into at least £10,000 in just six months. The teams can do whatever they want (subject to ethical checks) to yield the return.
According to the Prince's Trust, nine out of 10 participants taking part in the project say they have picked up new skills they can bring back to the workplace.
Julian Barrell, director of fundraising, The Prince's Trust, said: "Million Makers gives employees the chance to put their business acumen and creativity to the test. These opportunities are more important than ever as training budgets are slashed in the aftermath of the recession."
This year, teams will pitch their ideas to the Trust in a Dragons' Den-style environment, to their own bosses, who will be seated, watching them in the actual BBC Dragons' Den warehouse.
Last year, employees from the Royal Bank of Scotland raised more than £66,000 by working in a turkey-processing plant and milking cows in exchange for a donation to The Prince's Trust. Another team from South West Communications launched a nude calendar featuring local rugby stars, raising £31,000.
Sharon McDowall, head of community investment, RBS, has entered 12 teams in this year's challenge. She says: "Million Makers gives our employees a fun way to test their entrepreneurial skills and, importantly, to raise funds to help young people across the UK."
Million Makers teams have already raised more than £1.1 million for The Prince's Trust So far, companies including Starbucks, Red Bull and GlaxoSmithKline have signed up for this year's challenge.
HR magazine will be following the progress of how some of the teams get on, so watch this space.
Companies can still get involved - see www.princes-trust.org.uk
