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The aim of the event is to raise funds for the Hospice via sponsorship / donations and also to bring a tiny bit of joy to the children and families.
The information taken from their website best explains what they do:

Chestnut Tree House is the only children's hospice in East and West Sussex and cares for over 280 children and young adults from 0-25 years of age with progressive life-limiting conditions from Sussex and South East Hampshire.
There are potentially 1,000 families with life-limited children in Sussex. Chestnut Tree House offers support for the whole family including psychological and bereavement support, end of life and short break care and sibling support.
The hospice costs nearly £3 million per year to run. Families are never charged for their care and less than 8p in every pound is funded by the government, so we rely heavily on the generosity, help and support of the people of Sussex.

If you would like to join the Teddy Bear Run please head over to www.teddybearrun.co.uk and register your interest,

I will be driving to pickup the teddy bear and deliver it to the children on the 15th of Dec 2013