A Dragon’s Den-style business competition is being launched in Northamptonshire with firms set to battle it out for a space at the Silverstone circuit development.
Earlier in July developers MEPC announced plans to expand the business park next to the racing track over the next ten years - creating 8,000 new jobs and 200 new firms.
Now MEPC is launching the Silverstone Park Business Competition, which will be open to small and medium sized enterprises.
The prize for the four winning firms is a ‘hot desk’ at Silverstone’s Innovation Centre, up to £1,000 to spend on tailored support, advice or professional services and support of a business mentor selected by MEPC from its panel of independent mentors.
South Northamptonshire Councillor and business mentor Kath Bonner-Dunham is one of the six judges.
She said: “Silverstone as a venue is growing on the map for high performance engineering and hospitality and various other businesses.
“It’s about perception and if your address is 2 Rose Cottage it’s not quite the thing, but if it’s at Silverstone Park then it means something.
“Certainly the support of the Innovation Centre where you’ve got other businesses and can bounce ideas off other individuals is very important.”
She added: “What I really like about this competition is that it puts people with ideas in front of business people. I work with a lot of businesses from start-ups through to larger organisations so I’m pretty apt at seeing if businesses and individuals have the core competence required of them to make things work.
“People can be great inventors and innovators and have good ideas but don’t necessarily understand what is required to run a business. You’ve got to be able to manage people, to plan and look at all the aspects of business. And more importantly make sure it’s profitable.”
The closing date for entries is August 31.
More information and an application form is available at the MEPC website: silverstone-park.com/businesscompetition.