A BURY company is one of the contenders for the £20,000 first prize in the HSBC Start-Up Stars Awards.

AKYA Ltd was established by Unsworth-based Graeme Smith in 1999.

Mr Smith, who has a degree in electronic engineering and 18 years' experience in the electronics industry, has developed a range of innovative products which stop items of media equipment becoming obsolete.

Existing audio and video equipment can be "reconfigured" or upgraded so that new functions can be implemented.

A sound system currently providing Dolby Pro-Logic can be upgraded to THX Surround Sound through the use of a set-top box.

Mr Smith has set up his own company and is using his experience and expertise to attract consultancy work to fund the development of his new product range.

Patents are pending in the UK and abroad and discussions are under way with UK-based manufacturers.

Mr Smith is also looking to recruit staff to support his work on the design and development of products.

Mr John Rendall, Head of Business Banking at HSBC, said: "These awards have captured the imagination of the start-up business community throughout the UK.

"The awards panel has received many outstanding examples of successful businesses that have been established through their owners' vision and courage.

"We congratulate AKYA on making the final 10."

Mr Smith will make a presentation in London to a judging panel of business experts which will include representatives of the Confederation of British Industry and the British Chambers of Commerce.

The results will be revealed at a gala dinner at London's Savoy Hotel on October 3.

Whatever the decision, AKYA will receive a free business consultancy and software package worth £3,000 -- courtesy of IRPC and Sage -- for reaching the national final.