START-UP entrepreneurs are being given the chance to win a £50,000 prize package and put their business in front of international and regional investors as preparations get under way for York's 12th Venturefest.

The annual technology conference is returning on March 12, and will once again be hosting the Investment Competition, with support from crowdfunding and co-investment platform GrowthFunders.

As well as presenting to potential investors at the event at York Racecourse, competition finalists will be given a place on the GrowthFunders platform, which has a growing user base of more than 6,000 people throughout the UK and Europe who are actively seeking opportunities to invest in businesses with high growth potential.

GrowthFunders chief executive Norman Peterson, said: "We are excited to be co-ordinating the Investment Competition and helping to promote the entrants to a wide range of potential funders.

"As part of the winner’s package we will support them with their online fund raise on the platform and assist with strategy, planning and preparation, amongst other things."

Mr Peterson said they are looking for businesses and ideas across all sectors that can demonstrate growth potential, and that it will be "good market opportunities in growth markets with a good team" that catch the eyes of the judges.

York-based Aptamer Solutions won the Investment Competition in 2012. ?

Chief operating officer Melanie Ellyard said: "Winning the competition gave us a huge boost. The mentoring we received helped us develop a tailored, robust business plan and, by taking part and winning, it qualified us to confidently go forward and speak to investors.

"Through the business support prize package, we also gained access to organisations that, at that stage of our development, we would not have had the funds to work with, in particular accountancy support from Garbutt & Elliott and practical PR advice from The Partners Group, which cemented our relationship with regional media.

"It’s a very serious competition and you need to be prepared to work hard. But at the end of it, you’ll have achieved so much; a solid business plan, connections with investors and, if you win, access to top level advice from some of the best organisations in the region."

GrowthFunders’ chief operating officer Craig Peterson, added: "We’re dedicated to supporting the next generation of great British businesses and are excited to be doing so alongside Venturefest Yorkshire.

"There are a lot of very exciting start ups around at the moment. In fact, 2014 saw the launch of a record number and we’re confident that 2015 will be even bigger."

The closing date to enter the Investment Competition is January 31. For more information about entering the Venturefest Yorkshire Investment Competition, visit www.venturefestyorkshire.net