Five companies shortlisted for £10k prize

Five local companies have made the shortlist in a major competition called EnterPrize aimed at new businesses in east Manchester.

Organised by urban regeneration company New East Manchester, these five companies beat of stiff competition from 40 other entrants and will now have the chance of picking up the top prize of £10,000 or the runners up prize of £5,000.

The five shortlisted companies include Dream Clubs, a health and fitness company based in Gorton; Any Tackle, a supplier to the angling industry; Smart Plan, which produces software for builders, architectural technicians; Duo Design, a web design and development consultancy and Cactus, a home automation company, all based at One Central Park in Newton Heath.

The judges selected these five companies for the final stage because they impressed them most in their ability to concisely explain what their business offers and who their market is and were able to clearly demonstrate how the £10,000 prize money would benefit their business. In addition they all had a very robust business plan showing potential for future growth over the next two years.

Designed to promote entrepreneurial talent, encourage economic growth and help local companies grow, all applicants have already benefited from business advice through a series of seminars and one-to-one sessions with business experts worth an additional £5,000 to each company.

To get to this stage, all five companies had to write a ten-page business plan. The final stage involves a presentation to a panel of entrepreneurs, business leaders and top consultants. Each business will be judged on its own merits and how successful it has been on achieving the targets set them by the business consultant in the previous stage.

Eddie Smith, New East Manchester's deputy chief executive said: "We have been very pleased with the level of interest from local companies and the quality of the applicants. Clearly there are a great many companies in the local area that have been built on entrepreneurial talent. I hope all 45 companies have benefited from the advice, seminars and one-to-one sessions. Picking a winner will be a difficult decision as all five are very deserving of the prize fund."

The winner will be announced at a special dinner at the City of Manchester Stadium on 11 December 2007.

For more information on New East Manchester visit http://www.neweastmanchester.com/

Media contact:

Roz Hughes, tel 0161 223 1155