Budding entrepreneurs have the chance to win additional funding for their projects but only if they go back to school.

The Centre for Entrepreneurial Learning's (CfEL) annual Summer School programme at the Judge Institute of Management in Cambridge will award a £2,000 stipend to the most viable business project presented at the week-long course.

The prize is sponsored by Novus4, a company founded recently by an attendee from last year's Summer School, Humayun Sheikh.

"I have discovered how many people like me have trouble finding investment to trial, research and build prototypes of their ideas, so, while I was searching for my own funding, I got a couple of investors interested in creating a small investment fund of around £80,000, specifically to fund small projects," said Sheikh.

Sheikh started Novus4 in 2004 with the aim to fund new and innovative ideas with a commercial value, assisting with the ideas' design and marketing. The firm will provide the same service to the winner of this year's award in an effort to motivate and get the winner started in enterprise.

"Humayun has presented us with a great gift to help spread the spirit of enterprise," said Shai Vyakarnam, director of the CfEL. "It's very generous since he is himself getting started and yet is willing to put something back in recognition of the help he got from the Summer School.

"We hope this is just the beginning and inspires a future fund for Summer School alumni."

The Summer School programme runs from 11 to 16 July and will feature expert entrepreneurs such as Karan Bilimoria, the founder of Cobra Beer, and others.