CASH is up for grabs in a competition for business start-ups and entrepreneurial students.

Up to £1,000 of prize money is available in the Entrepreneurial Barnet Competition, organised by Middlesex University, Barnet Council and Barnet and Southgate College.

People can showcase their ideas to win one of four prizes, worth £500 each, with the overall winner taking home an extra £500.

The competition launched on Monday (January 18) and will run until February 19.

The prizes are divided into four categories – Barnet people with a business idea or start-up of less than a year old, Middlesex University postgraduate students and graduates, undergraduate students, and students at Barnet and Southgate College.

The category winners will then go head to head in a business pitch at the head office of Brent Cross developers Hammerson, who are providing the prize money, where the overall winner will be chosen.

Entrants will need to complete a business plan, which can be found at www.barnet.gov.uk/business-competition

All entries will be judged by a panel of business experts and must be submitted by email to corporate@mdx.ac.uk by midday on February 19.

Councillor Daniel Thomas, Conservative chairman of the assets, regeneration and growth committee, said: “This Entrepreneurial Barnet Competition is an exciting opportunity for local entrepreneurs to get their ideas out there and receive support to kick-start their businesses.

“Good luck to all entrepreneurs from across the borough who take part.”

David Williams, director for corporate engagement at Middlesex University, said: “Promoting entrepreneurship is one of our key areas at Middlesex, so we are delighted to work with our partners in identifying, recognising and supporting new enterprise.

“Highlighting innovation and good business ideas can only help encourage other businesses to grow and compete more widely.”