Are you a bright young entrepreneur with a big idea that could potentially make a huge social or environmental difference?

Over the weekend Youth Minister Nikki Kaye announced $120,000 in extra funding would be available to young entrepreneurs, aged 12 to 14, under the Opportunities for Young People fund.

Youth Minister Nikki Kaye addressing the audience at the Festival for the Future held in Auckland over the weekend. Photo: Nikki Kaye/Facebook

The Youth Minister made the announcement during the Festival for the Future, which was held in Auckland and organised by 2015 Young New Zealander of the Year Guy Ryan.

'Opportunities for Young People funding comes from the $2 million Youth Enterprise Fund,” she explains.

'This fund was launched in December last year to support organisations offering hands-on opportunities for young people to help them develop entrepreneurial skills.

'Through the many young people I meet, it's clear they're coming up with fantastic ideas for projects themselves which are well worth supporting in their own right.”

Nikki adds: 'We recognised this in May this year, when we announced $79,000 of funding direct to young people under the Opportunities for Young People Fund.”

The funding panel will award funding based on the innovation, viability, potential for growth and social impact of the project, while also considering value for money.

Bay of Plenty MP Todd Muller is also calling on young local entrepreneurs to put their ideas forward and apply for their share of funding.

He believes that by working on projects they have designed themselves, young people develop valuable decision-making skills and confidence.

'This fund inspires youth to apply a commercial approach to solving social or environmental challenges, a way of thinking vital to the future of New Zealand,” says Todd.

'Young people who solve community problems with innovative and entrepreneurial thinking are well placed for future leadership.”

All expressions of interest must be submitted by Tuesday, October 20.

For more information about the Youth Enterprise Fund – Opportunities for Young People funding visit the Ministry of youth Development's website by clicking here.