CEDAR RAPIDS, Iowa (KCRG-TV9) -- Imagine being the next Bill Gates or Warren Buffett.
Juniors and Seniors from Cedar Rapids area high schools will participate in a challenge today to better understand business, and how to succeed.
32 pairs of students from eight different schools will participate in the Junior Achievement Titan Challenge for the chance to win a college scholarship.
The pairs will run their own virtual businesses.
"Each team gets a computer and a mentor and it's teams of two and they're all off at there little stations," said Jordan Timm, the Cedar Rapids District Manager for Junior Achievement of Eastern Iowa. "And they get to discuss and make decisions as the computer pulls up what's happening next and brings up a decision for them."
Based on their allocation of the dollars and cents they earn, a computer will determine what happens next and how effective their program will be.
They will be challenged with multiple business decisions from marketing to production, but it's a challenge the students are ready to meet head on.
"A lot of them love it, though," Timm said. "They love also getting to work with the business mentors, I think that's a big perk of it. Because while we hope they get a lot out of the simulation, I think that having the role model that's a business leader in the community and building that relationship is also a great component."
Each team will have a business mentor from a local business in the area, ranging from U.S. Bank and Rockwell Collins to guide them in making educated decisions.
The winning team gets a $1,500 college scholarship per teammate, while second place gets $750.
The competition sponsored by Transamerica will be held at the Linn County Regional Center at Kirkwood Community College, beginning at 9:30 A.M.