News

July 06, 2010

Trailblazing entrepreneurs compete for £110k prize fund

Entrepreneurs in parts of the North West and Wales can compete to win a share of a £110,000 prize fund, following the launch of the Morgan Foundation Entrepreneur Awards.

The awards are aiming to encourage enterprise in North Wales, Shropshire, Merseyside, West Cheshire and the Wolverhampton area, by supporting enthusiastic businesses, entrepreneurs with unusual ideas and those who have achieved against the odds.

Open to existing business owners and would-be entrepreneurs, applicants can download entry forms from the awards website, where they need to include details about their business or idea, financial projections and an explanation of how they would use the prize money.

There are five award categories:

• Best New Business – for businesses less than four years old (first prize £20,000)
• Best Entrepreneur or Business providing an Economic or Social Contribution to the Region over the past three years (first prize £12,500)
• Best Entrepreneurial Charity or Social Enterprise (first prize £12,500)
• Best Young Entrepreneur – for an entrepreneur aged under 25 (first prize £10,000)
• Against All Odds – for an individual, business, social enterprise or charity overcoming the greatest difficulties to succeed (prize £10,000)

Most of the categories also offer cash prizes of £5,000 for two runners-up. The Best Entrepreneurial Charity or Social Enterprise category also has a separate prize of £10,000 for a business based in Liverpool. Winners and runners-up will also receive publicity in the local media and a package of professional services.

“These awards are very different from most other awards – not only are there substantial cash prizes, but in line with the ethos of the Morgan Foundation, there are also categories aimed specifically at entrepreneurial charities and organisations that make a social or economic contribution to the region,” said Morgan Foundation founder, Steve Morgan OBE.

“Last year’s winners and runners-up have said that winning has helped them in many ways, from a much-needed capital injection to improving staff morale,” he added.

The deadline for entries is 10 September 2010. Winners will be announced at an awards ceremony in November.

• For more information about the awards and to enter, visit the website of charity support group the Morgan Foundation