An entrepreneurial Scottish duo have been named Shell LiveWIRE Young Entrepreneurs of the year in a ceremony in central London.

Neil Tierney. 26, and Neil Farish, 25, founders of Lightweight Medical Ltd, won the prestigious title and £10,000 after beating off the challenge of 12 finalist from across the UK.

Lightweight Medical was set up in May 2003 and makes products for GPs and hospitals.

The Shell LiveWIRE judges said they were impressed with how Tierney and Farish had made a success of their business partnership and made their firm a market leader in a “remarkably” short space of time.

Upon collecting their award, the two Neils commented: “It’s brilliant to have won the UK’s top youth enterprise award, especially in the face of such strong competition from so many talented young entrepreneurs.

“This is the best endorsement a young business could get. We would encourage other young people to explore their potential and to make use of services such as Shell LiveWIRE to put them on the path towards business success.”

The ceremony, held at Drapers’ Hall in the City of London, was addressed by small business minister Nigel Griffiths and Digby Jones, director general of the Confederation of British Industry (CBI).

Griffiths said that young entrepreneurs were the dynamos and lifeblood of our economy.

“Some 300 businesses a day are being started in Britain – Shell LiveWIRE showcases the very best.

“My heroes are not the pop idols or the soccer stars – they are the dynamic people who are making a real contribution to our economy and communities,” he said.

Tow further finalists received commendations and cheques for £2,000 – Gillian Montague of All Creatures Veterinary Health Centre and Phil Andrews of the Industry Exchange.

The awards, now in its ninth year, attracted 1,200 entrants aged between 16 and 30.