Tyrrells Potato Chips wins Midlands Final of the Bank of Scotland £25 million Entrepreneur Challenge
Hereford based Tyrrells Potato Chips has won the Midlands Final of the inaugural Bank of Scotland Corporate £25m Entrepreneur Challenge. After presenting its case to a panel of judges, the organisation was last night announced as the winner, and will now compete with the four winners from the other UK regional finals for the title of Entrepreneur of the Year.
Tyrrells Potato Chips fought off strong competition from other Midlands companies to emerge victorious in the Challenge. The business was rewarded for its drive, determination and entrepreneurial spirit, and will now receive up to £5m, interest free funding to help take it to the next level.
The Entrepreneur Challenge is being run across five areas of the UK, one of which is the Midlands. The five regional winners – of which Tyrrells Potato Chips is the third – will all be entitled to receive a funding package of up to £5m entirely free of interest and arrangement fees for a period of three years.
Joining senior Bank of Scotland Corporate figures on the judging panel were representatives from Deloitte, and two entrepreneurs who have built up their business with stunning success: Ranjit Singh of Boparan Holdings Ltd and Bob Edmiston of the IM Group.
Tyrrells Potato Chips now has another date in its sights – the UK final on Wednesday 12th December. Along with the winners from the other four regions, they will compete for the title of Entrepreneur of the Year, and the chance to have Arcadia boss Sir Philip Green join them in their boardroom for four days mentoring, completely free of charge.
William Chase, from Tyrrells Potato Chips, commented: "It is great to see what Bank of Scotland Corporate can do with a concept like this challenge and I'm so happy with the result, of course. I think we have a chance of winning the main prize and I'm sure the other national finalists think the same too. I'd love to win the four days mentoring from Sir Philip Green as he has such a keen eye for business."
Damian McGann, Head of Commercial for Bank of Scotland Corporate in the Midlands, said, "In terms of pure innovation and spotting opportunities, and in some areas creating new markets, we just felt Tyrrells tipped the balance. The calibre and diversity of the top five was quite awesome and we would really enjoy working with all those businesses and helping them fulfil their growth ambitions.
Ranjit Singh of Boparan Holdings commented: "All the businesses were winners to get to this stage but clearly there had to be one overall winner. The decision went right down to the wire and two businesses stood a very good chance of winning. William believes in his product and is producing crisps that the consumer wants. He is consumer driven and displayed strong values to develop the concept further."
