A £10,000 competition has been launched to help students set-up co-operatives.

Altgen, which supports young people to start co-operatives, has teamed up with Co-operatives UK and universities to launch the Young Co-operators Prize to recognise new student and graduate co-operatives.

The prize will support five groups of young people to set up their own co-operative enterprise by providing mentoring, business support and a £2,000 prize.

Ten universities have so far signed up as partners for the prize, signalling the commitment to help their students and graduates stop competing and start co-operating to create their own work. Over the coming months AltGen will be touring the country to run workshops with students in these institutions.