BUDDING North-west entrepreneurs are being given the chance to win £100,000 to develop their business.

Organised by the Manchester Chapter of The Indus Entrepreneurs networking and mentoring group, the competition is open to any business in the region which has been trading for more than six months.

The event, dubbed "TiEger's Den", will see four company bosses pitch their business to a judging panel, including some of the region's most successful entrepreneurs. During the 10-minute presentation, hopefuls will also be questioned by a 250-strong audience.

There will be £400,000 up for grabs on the night, with each business in with a chance of securing £100,000 in exchange for a share of equity. They will also benefit from on-going mentoring from a TiE Charter Member and a half a day of free consultancy from KPMG.

The competition is the brainchild of Raj Ruia, president of TiE in Manchester and managing director of the Kearsley-based textile firm Richard Haworth and Co.

Mr Ruia said: "As a mentoring organisation, the TiE network has a rich tradition of supporting exciting, embryonic businesses. An event such as this fits our ethos perfectly and enables us to work closely with some of the North-west's most exciting small firms.

"Our TiEger's Den initiative provides a fantastic opportunity for businesses that have firstly proved that their concept works, and then explored all options in terms of start-up grants and financial assistance. Not only will the winners be able to access £100,000 of investment capital, they'll receive first class business advice from KPMG and long-term support from a TiE member with a track record in running a successful business."

Judges and investors include Sanjay Vadera, chief executive of North-west-based nationwide perfume retailer The Fragrance Shop, and Sandy Chadha, managing director or Supreme Imports, a distributor of batteries and recordable media.

North-west area director of Lloyds TSB corporate markets, David Allanson, and KPMG's Northern regional chairman, Malcolm Edge, are also on the panel.

The Indus Entrepreneurs is a global not-for-profit organisation focused on promoting entrepreneurship through advice, guidance and assistance from successful and experienced business owners and professionals. The Manchester branch set up 12 months ago and has attracted almost 100 members.

l Businesses can complete an application form from Lloyds TSB business centres or from the TiE UK website at www.tie-uk.org