The Birmingham-based Oxygen Accelerator tech start-up support programme is to give £75,000 to the top participant in the 13-week intensive mentor-led training programme.
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Ten businesses selected from hundreds around the world are to take part in the programme, which will begin in September at Birmingham Science Park Aston.
The programme culminates with a series of investor days where participants can pitch to a large, carefully selected group of angel investors, venture capitalists and private equity groups for next stage funding.
Each organisation stands to receive a pre-seed loan of up to £20,000, advice, mentorship and connections in exchange for a 6% equity stake for Oxygen Accelerator.
But founder Mark Hales has put up £75,000 to be won by the business - voted for by mentors, investors and peers as the 'most improved' - that has demonstrated an ability to continue to develop a sustainable business.
"Investing a further £75,000 in the team that has shown a marked improvement from when they joined the programme will help fuel inspiration, determination and the passion needed to make a business work," he said.
Applications to be considered for the programme are open until 30 June.
"The successful 10 will have access to a pool of state-of-the-art resources and also receive guidance from fellow successful tech entrepreneurs, business mentors and financial and legal support, which is imperative for any business during its formative stages," said Hales.