A competition to find the region's most forward thinking company has been launched, with the chance to attract up to £2 million in venture capital up for grabs for the entrants.
The competition is being run by the Foresight scheme, which is funded by Advantage West Midlands and the European Regional Development Fund and aims to provide companies with the support needed to increase their competitiveness and profitability.
As well as the title of the West Midlands' Most Forward Thinking Business, the competition will give a company the chance to turn a new idea, product or service into reality by offering them access to a carefully selected panel of venture capitalists.
This will give them the opportunity to pitch their idea and, if it fits the criteria, could earn them £2 million in venture capital to launch it into the market.
Also available through the competition are 20 onehour sessions with a Department of Trade and Industry accredited marketing specialist and ten one-to-one mentoring sessions, each worth £1,000, from a leading organisation who source funding.
Deadline for entries is September 23 and the competition is open to any West Midlands-based SME which has attended a Foresight session.
A special workshop has been organised for September 13, aimed at people that would like to enter the competition, but haven't yet attended a Foresight presentation.
An awards dinner is being held on October 28 at Coventry TechnoCentre with guest speaker Mike Southon, author of bestseller The Beermat Entrepreneur.
Mandira Sarkar, Foresight programme manager at AWM, said: "This is a golden opportunity for a company which has an idea, service or product with money-making potential to take it to the market.
"Getting access to the right venture capital and funding can be a problem for SMEs and this competition, while also showcasing some of the forward-thinking companies in our region, will give them access to some of the best sources of funding available."
For more information on the competition or the Foresight programme call Pete Stevens on 02476 236392 or email him on firstname.lastname@example.org.