'Dragons' Den' offer from council

Successful applicants must have a "viable strategy" to achieve growth

Entrepreneurs are being offered cash, mentoring and training support in a "Dragons' Den" style scheme from Glasgow City Council.

The £100,000 initiative is open to small and medium sized firms that have been trading for under three years.

Four successful applicants will be given £20,000 in cash and three months of support valued at £5,000.

Companies have three chances from now until the end of March 2009 to apply to the Glasgow Business Challenge Fund.

Deadlines for submissions are 30 October, 30 January 2009 and 30 March 2009.

Two winners will be picked from applications received before the first deadline and one from each of the other stages in January and March next year.

To apply companies have to submit a business plan to the council's business support unit by one of the deadlines.

A shortlist of finalists will be asked to make a 10-minute presentation to a judging panel before the winners are announced.

The council's executive member for development regeneration, Councillor George Ryan, said: "What we are looking for is businesses to show us that they understand their market place and have a viable strategy, backed up by a robust and workable operations plan to achieve growth."