On 3 February, The Sunday Times and Bank of Scotland announced the second round of their Entrepreneur Challenge, which is open to entrepreneurs in all sectors.

Unlike the Bank of Scotland and Property Week’s £30m Search for Property Entrepreneurs, which is only open to property, the Entrepreneur Challenge is open to companies as diverse as Daisy Communications, the telecoms reseller that won last year’s national prize in competition, and the winner of its Midlands and Mid-Wales regional award, crisp-maker Tyrrells.

The Entrepreneur Challenge ran for the first time last year. The coveted national prize came with four days of mentoring from Sir Philip Green, owner of BHS and Arcadia. This year, £35m is up for grabs instead of last year’s £25m.

The UK has been split into seven regions instead of five, meaning there will be seven winners.