BUDDING entrepreneurs with brilliant ideas are to be given a helping hand at turning them into profitable businesses.

The University of Central Lancashire has teamed up with some of the local economy's major players to create the Harris Park Millennium Awards, which will provide the assistance, support and know-how required to exploit a lucrative idea commercially.

Winners of the award will be given space inside the 'ideas incubator' based on the University's new Harris Knowledge Park, which was given the go-ahead last year and is designed to make Preston a centre for up-and-coming businesses.

Last year, when the scheme was unveiled, organisers said they hoped to tap into the ideas of students, who are often stumped when it comes to turning an idea into a business reality.

The award is open to anyone with an innovative idea with potential for high growth, and it also offers specialist advice, guidance and grants, as well as an introduction to banks, capital funds and other investors.

A prize fund has been established in conjunction with HSBC, BNFL, LAWTEC and the Prince's Youth Business Trust.

University Pro Vice-Chancellor Ian Haythornthwaite said: "The UCLa feels a strong sense of commitment to the region and it is hoped by offering these awards, we can encourage the innovative thinkers and business stars of the future to remain in the region and contribute to its economy."

Applications can be made to the university.

Successful applicants will begin to benefit from their awards in January 2000. In May 2000, the Harris Knowledge Park Millennium Prize will be awarded to the most innovative business idea.

For more details, ring 0800 195 0055.

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