In the last two years, nearly 800 businesses have used Running the Gauntlet as the springboard for business development and investment. This year, EEDA is partnering with four investors: CREATE, Low Carbon Accelerator, NW Brown Group and SEP and an investment panel chaired by Doug Richard of Library House.

Through a series of ‘boot camps’ scheduled for 14 June (Cambridge), 20 June (Norwich) and 4 July (Chelmsford), a business education programme aims to get entrants’ business plans in the best shape to attract investment. Entrepreneurs can also gain free access to ‘The Gauntlet’, a virtual investor devised by Library House and the London School of Economics.

You can enter online until 2 September. Those who register early will have the chance to win a place (worth £1,000 each) on Ignite, an intensive week-long summer school for entrepreneurs run by the Cambridge Centre for Entrepreneurial Learning, or to gain a place on Microsoft UK’s  small business management course.

A shortlist of 50 will be announced at an event on 12 September 2007. They will pitch to the Running the Gauntlet panel who will select ten finalists for further discussions.

Chairman of the panel of investors Doug Richard comments: ‘Being entrepreneurial involves being agile, acting quickly and being prepared to work harder than the competition. There is a readiness gap among entrepreneurs at the moment. In other words, there are not enough businesses ready for investment or for the scrutiny this entails.

By Martin Huckle