Twenty-five of the Midlands up and coming firms have been named the first Champions of Enterprise.
They were unveiled at an awards ceremony at Coventry's new Ricoh Stadium.
From a variety of traditional and emerging industries, the new champions pledged to provide mentoring support, host best practice visits from domestic and international delegations and expressed a determination to work with young people.
Kul Sanghera, project director for Mustard.uk.com, organiser of the event, said: "This is a fantastic new approach for the area and provides a powerful movement that will develop into an exemplar of best practice and hopefully form a hotbed of knowledge and expertise, which can ultimately be transferred to the benefit of other aspiring entrepreneurs.
"It is absolutely vital that we position the West Midlands as a vibrant and dynamic business base, something that can only happen if there is a continual pipeline of new and determined entrepreneurs."
Mustard.uk.com, the highgrowth business start-up service, is working with Advantage West Midlands and Midlands Excellence to develop the network.
The winners had to meet criteria on innovation, job and wealth creation, new technologies and young entrepreneurship.
Hybrid vehicle specialists Tech2reality, established by three former MG Rover engineers, was one of those honoured.
Others included the Artlounge, a new contemporary art galley, ParentPay, which offers payment solutions for schools, and Sockatyes, which targets the football world with its re-usable sock supports.
MHL Support took just five years to record £5 million annual sales and 114 jobs while Worcester-based PACE recently secured a £12 million PFI contract in the face of international competition.
Helen Crooks, director of another winner, international freight forwarder Espace Europe, said: "I am absolutely delighted to be recognised as a Champion of Enterprise and believe the award highlights the achievements of everyone connected with the business, which is now breaking £4.5 million. Having already gone through the emotions and experiences of starting my own firm, it is only right that you try and put something back to new and up- and- coming entrepreneurs and this group is an excellent way of making a contribution."
Champions of Enterprise form an elite one per cent of the businesses assisted by Mustard.uk.com and already command a combined annual turnover of £50 million and a 750-strong workforce.
Nick Paul, chairman of Advantage West Midlands, said: "Entrepreneurs are a key driver in achieving our vision of a truly successful international business destination and it is reassuring to see the quality and passion of just a handful of our up and coming leaders."
The full list of Champions of Enterprise is 3form, AddMaster (UK), Akristos, Arcotherm, Artlounge, bit10, Cape Medical Services, Contour Casings, Dynamic Change, Espace Europe, Forensic Pathways, Intellitect, Lektronix, Liquid Services, Mainstay Group, MHL Support, Millennium Pressed Metal, nGeneration, PACE, ParentPay, Sockatyes, Technology Law Alliance, Tech2reality, TicketAid and TriRidium. Mustard.uk.com claims to have helped 2,500 entrepreneurs turn their dreams into reality.