A PRIZE package worth £52,000 was scooped by a Cleethorpes-based construction form work systems company at Venturefest.
The 2014 Investment Competition was won by Fast Form Systems, which beat competition from four other businesses to win the package of business support.
All five pitches were judged yesterday by an audience of Yorkshire Association of Business Angels (YABA) investors at Venturefest.
The winner was selected by secret ballot, with judges scoring on the originality of the product, potential market size, business model, competitive advantage, management team strength and forecasted profitability.
The £52,000 prize package includes six months office space for the business at York Science Park alongside business coaching, accountancy, HR, publicity, legal and financial services support from some of the region’s top professional services firms.
Investment Competition organiser Barbara Greaves, of YABA, said: “We saw five excellent presentations from a wide range of businesses, all capable of achieving great things.
"Fast Form Systems is building a business by offering environmental, safety and efficiency benefits to the construction industry, and I think the company will derive huge benefit from the prize package awarded today.”
The other competition entrants included a grid-level electricity storage battery from Wind Power Performance; an Enterprise Social Network platform from TeamsTalk; the Queuedit social media management tool and a solar energy products company, Natural Technology Developments Ltd.