UK entrepreneurs are set for a £35 million interest free investment following the launch of the 2008 Bank of Scotland Corporate £35 Million Entrepreneur Challenge.

Following an overwhelming number of applications and the unprecedented success of last year’s inaugural Entrepreneur Challenge, it has been expanded for 2008 and will include an additional £10m, swelling the prize fund to £35m, and an increase in the number of winners.

The challenge, in partnership with the Sunday Times, is designed to stimulate and support entrepreneurial spirit and will take place across seven regions throughout the UK. The winning entrepreneur from each region will receive a funding package of up to £5 million, free of interest and arrangement fees for a period of three years, allowing each company to transform their entrepreneurial spirit into concrete business plans.

Over 90% of entrepreneurs who entered last year stated that their business benefited from the necessity to crystallise its plans as part of the entry criteria, regardless of how far they progressed through the Entrepreneur Challenge.

Peter Cummings, Chief Executive of Bank of Scotland Corporate, comments:
"Entrepreneurs are the lifeblood of our economy and are responsible for some of the most spectacular business successes this country has seen. I’m a passionate believer that they are given all the support they need in order to flourish and the Bank of Scotland Corporate Entrepreneur Challenge was created specifically to encourage entrepreneurs to follow their dreams and transform their visions into reality.

Each of the seven regions will have its own individual judging panel, made up of a number of the country’s most successful entrepreneurs. This star selection includes Audrey Baxter, Chairman and Chief Executive of Baxters Food Group, John Madejski, owner of Reading Football Club, Ardeshir Naghshineh from the Targetfollow Group, Bill Muirhead, Executive Director of M&C Saatchi and Matt Riley, owner of Daisy Communications, who scooped last year’s Entrepreneur Challenge and is currently the Bank of Scotland Corporate ‘Entrepreneur of the Year.’

For more information and to download an entry form visit www.theboschallnge.co.uk. The closing date for entries is Monday 19th May 2008.