YORK hosts its 12th Venturefest next week, showcasing the region’s innovative young businesses and entrepreneurs all the annual science and technology exhibition.

For a one-day event, Venturefest’s programme offers a packed showcase of futuristic creations from the science and technology sector. As well as exhibiting groundbreaking developments, the event, held at York Racecourse on March 12, offers £63,000-worth of prizes for young businesses.

This year’s Investment Competition, which offers a prize package worth £50,000, attracted a record number of entries, not only from Yorkshire-based companies, but across the country, This year, Venturefest has teamed up with crowdfunding and co-investment platform GrowthFunders, so as well as presenting to potential investors, the competition finalists will be given a place on the GrowthFunders platform.

These eight finalists will pitch their businesses to a judging panel, in front of a room full of potential investors, and the winner will receive a bonus prize package worth £50,000. Each of the businesses is seeking capital to grow, so the opportunities are open for investment from interested parties.

Of the eight finalists, representing York is UGOT, an expanding frozen yoghurt, juice and health food bar chain launched by Joe Carnell, with the first site opened at York train station.

UGOT will be competing against energy storage battery manufacturer Cumulus Energy Storage, gel fuel specialist Geco Industries, recruitment platform provider Co-Ignition, e-learning software creator mylearnadfriend, online training specialist Think Eleven, stolen car detection alert system creation Luminescent, and ticket search and comparison engine TickX.

Also offering a cash prize package to young businesses is the Innovation Showcase. This is a chance for inventors and entrepreneurs from the science and technology sectors to demonstrate their ideas to more than a thousand delegates attending Venturefest Yorkshire.

The showcase is organised by Science City York and supported by the University of York, with the most innovative product receiving a prize package worth around £13,000.

The showcase finalists are Clear Sky Medical Diagnostics, Touch Right Software, Elzo Events, Mann Power Consulting, PD-m, Panoplia, Yorkshire Biotec, BugBrush, We Scan Tickets, Ebor & Inkblot Films, Llama Digital, SkillsForge, Mitrefinch, Text Mining Solutions and The App Kettle.

As well as the competitions Venturefest features a line-up of inspiring speakers and thought-provoking seminars.

The keynote speaker for this year’s even is Lee Strafford, a visionary and entrepreneurial leader who steered the success of PlusNet as its co-founder and chief executive from 1997 to 2007, leading it from start-up, through IPO and finally to exit by sale for £67 million to BT in 2007.

Rachel Goddard, chairwoman of York Professionals, which organises Venturefest, said: “York Professionals created ‘Venturefest Yorkshire’ to provide innovation, motivation and support to entrepreneurs, business people, investors and professionals working in science, technology, creative and high growth businesses.

“The day provides opportunities for interaction, networking and meetings between professionals and the high growth, high technology businesses attending.

“Over its 12-year history, Venturefest Yorkshire has welcomed more than 14,000 people through its doors.”

“Venturefest Yorkshire represents a marvellous collaboration and is a very worthy contributor to economic growth through innovation and technology.”

This year’s Venturefest programme will also feature a session on Strategic Digital Marketing from David Norris, head of Leadership, Accounting and Marketing at York St John University. Andy Green, a leading international brand expert will speak about what makes great PR, and communications expert Dominic Colenso will give a seminar on Perfecting Your Pitch.

The guest speaker for the awards dinner is Marcus Romer, Artistic director of Pilot Theatre who co-created the epic Blood + Chocolate promenade piece in 2013. Most recently, he adapted and directed The Knife That Killed Me for Universal Pictures