ENTREPRENEURS in Worcestershire are being given the opportunity to take part in an investment challenge to find the rising stars of the West Midlands business scene
The winners will stand a chance of accessing a £1m investment pool to help them further their businesses.
Connect Midlands, the regional network for entrepreneurs and high growth businesses has launched the Connect £1m Investment Challenge.
Sponsored by BT Business, this is an opportunity for businesses and entrepreneurs from across the West Midlands to showcase their businesses and potentially gain major investment. It is backed by Catapult Venture Managers Limited and Midven Limited, and supported by Advantage West Midlands.
Every entrant will be asked to complete the Gauntlet, a web-based self-assessment developed by Library House, a leading authority on privately held high-growth companies in the UK.
The Gauntlet acts like a virtual investor, challenging users to answer all the critical questions investors ask and effectively tests businesses to see if they are ready for investment.
Once completed, a report card will be completed on each entrant, which will provide a confidential, critical and credible insight into what the company needs to do to position itself as a viable investment opportunity.
Isabell Majewsky, managing director of Connect Midlands, said: "In launching this challenge our aim is to help businesses within the region to grow and become investment ready. Everyone will benefit at each stage of the challenge."
Doug Richard, entrepreneur and panellist on the BBC's Dragons Den programme, is the chairman and CEO of Library House and helped to develop the Gauntlet tool.
The short-listed entrants will be given expert one-to-one coaching, before presenting to a panel of industry professionals and investors. The top performing businesses will be announced on November 16 at the Connect Midlands Investment Conference
The competition is open until September 4. Entrants can enter the Connect £1M Investment Challenge by going online at www.connect1million.org
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