TEESSIDE companies, schools and organisations have been challenged to put their business and fundraising skills to the test by helping to turn £50 into £50,000 in the name of charity.

The Evolution Corporate Challenge 2011 will see crisp £50 notes handed out to any groups in the region that believe they have what it takes to turn this into as much money as possible within three months.

The aim is to at least double the cash, through any legal and ethical means possible, with the funds then being donated to North-east charities Zoë’s Place Baby Hospice, St Teresa’s Hospice and the Hartlepool and District Hospice.

The third annual challenge, which is run by North-east accountancy firm Evolution LLP, is expected to break a new fundraising record this year as more and more organisations from across Tees Valley get involved.

After raising £33,000 in 2009 and £33,700 in 2010, organisers are targeting a £50,000 total this year as they look to provide huge support to three deserving hospices that are so important to the lives of vulnerable people in the region.

Evolution LLP will hand out the £50 notes at the Corporate Challenge launch party on March 30 at Wynyard Hall.

Client Partner Ray Priestman is hoping that some of the inspirational fundraising activity from 2010 will be emulated this year.

Amongst the winners last year were Cornerstone Business Solutions, from Stockton, who were awarded the 2010 Special Judges Award.

Account manager Chris Bibby said: “We are already busy hatching plans for new fundraising ideas to help raise even more for the charities this year, it is great fun – everyone in the Tees Valley area should get involved!”