UK entrepreneur and BBC ‘Dragon’ Peter Jones is leading a team of investors at an event for young and aspiring business owners.
The Pitch will offer budding entrepreneurs the chance to lobby a panel of five financiers, who can each offer up to £100,000 of capital to applicants who pitch the best business ideas.
A partnership of organisations that provide support to business startups across the Thames Valley region are launching the competition. These include Business Link and the Cranfield University School of Management.
Peter Jones, owner of the £200m pound turnover telecommunications business, Phones International Group, said: “I like to support activities that encourage entrepreneurialism in the UK. We need more ideas like this to keep UK Plc at the leading edge.”
The Pitch, which is taking place in Milton Keynes, will split applicants into two age categories. The 14- to 19-year-olds are participating in an educational development programme and the 19- to 30-year-olds in an investment-readiness programme to develop their ideas before the event.
Twenty-three candidates in the 14 to 19 age category have already completed a training week, receiving support from speakers and personal advice. Two participants will be chosen to pitch to the panel.
Professor Andrew Burke of Cranfield School of Management runs the 19-30 age group and said: “We will show them how to put the investors on the spot and negotiate effectively in order to force the investors to bring some real value to their venture.”
© Crimson Business Ltd. 2006
