A search is about to be launched to find the North East’s most promising new entrepreneur.

Three winners of the fifth If We Can, You Can Challenge 2012, open for entries on 6th February, will be crowned with the prestigious title and receive a unique package of support to help them build their business.

The potentially life-changing IWCYC Challenge, run by the North East Entrepreneurs’ Forum, is designed to set potential stars on a shortcut to success by exposing them to professional expertise and a host of inspirational business leaders.

It is supported by Eversheds, PwC and Yorkshire Bank and is open to anyone who is thinking of starting a business, in the early stages of running their own business or expanding an existing enterprise.

Working in collaboration with three regional newspapers – The Journal, the Northern Echo and the Middlesbrough Evening Gazette, the Challenge will cast a spotlight on the North East’s emerging entrepreneurial talent.

Nigel Mills, chairman of the Entrepreneurs’ Forum, said: “In the years that we have run the If We Can, You Can Challenge its aims of identifying and fostering talent have never been more relevant.

“The growth of the private sector is critical to the region’s economic future and the Challenge helps to meet that need by supporting new entrepreneurs and presenting the winner with a money-can’t-buy package of mentoring and practical help to develop their business.”

Candidates are being encouraged to enter early since a number will be featured in the regional press in the coming weeks.

Nigel said the finalists would benefit from the founding principles of the Forum – to encourage entrepreneurs, support emerging talent, share experiences, make connections and to learn from and be inspired by others.

He added: “We believe the region is full of untapped potential and that all people need is the motivation to push themselves forward, safe in the knowledge that there are like-minded entrepreneurs on hand to help and a business community ready to welcome them.

“The If We Can, You Can Challenge is a fantastic opportunity to encourage people to take that vital next step. Whatever stage on the road you’ve reached, whether you’re ‘a thinker’, ‘a starter’ or ‘a grower’, no-one should be put off from entering.”

The IWCYC Challenge was first established in 2008 and has gone on to attract more than 2,000 aspiring entrepreneurs to the vibrant web-based community at www.ifwecanyoucan.co.uk

How to enter 

From 6 February, entries must be submitted on-line at www.ifwecanyoucan.co.uk/challenge

The closing date is Wednesday, March 21, after which a shortlist of five entrants will be chosen and announced.

The shortlisted candidates will be invited to pitch their business ideas to a panel of entrepreneurs on March 29, who will then select two finalists to go head-to-head in a public vote.

The three winners (one per newspaper) of the IWCYC Challenge, based on a 50/50 split of judges’ scores and the thousands of on-line votes cast, will be announced at an awards dinner following the Entrepreneurs’ Forum annual business conference at the Hilton Hotel, Gateshead, on Thursday, May 17.

The Prize

The three winners of If We Can You Can Challenge 2012 will receive a bespoke package of support provided by the Entrepreneurs’ Forum and its partners Eversheds law firm, professional services firm PwC and Yorkshire Bank. The prize will provide an agreed amount of time from each supporting partner tailored to the winner’s aims and ambitions and might include, but is not limited to, a full business MOT, advice on intellectual property, people and property matters, a financial health check and other business issues.

The winner will also receive:

Increased profile from being crowned IWCYC winner;

A delegate place at the Entrepreneurs’ Forum annual business conference and awards dinner on May 17 and the chance to meet and make contacts among some of the country’s most successful business leaders.

A delegate place at the Entrepreneurs’ Forum autumn conference on November 8;

A welcome into the unique environment of the Entrepreneurs’ Forum with unfettered access to successful business leaders and on-going advice and support.

Enter from 6 February at: www.ifwecanyoucan.co.uk/challenge