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eBay competition to net budding entrepreneurs

A new competition which will be played out on the UK's number one auction site, eBay is laying down the gauntlet to the region's budding entrepreneurs. Regional development agency One NorthEast and the North East Regional Portal have joined forces to launch the YouTrade competition. The pioneering format will see 10 finalists rewarded with a £2,000 cash injection to set up a business and trade online through eBay.

The 10 challengers will have just 12 months to make as much money as they can in the bid to be crowned YouTrade champion, with bonus points available along the way depending on how well they engage with the eBay business model.

Regional Portal chief executive Norma Foster said: "This competition represents a fantastic opportunity for 10 entrepreneurs to develop a business idea online. We are expecting it to be a great success and can't wait to see the ideas."

Shortlisted entrants will have to submit a business plan which will be judged by a panel of industry experts. It is expected that 10 finalists will be announced in January 2007 and the 10 businesses will start trading shortly afterwards. The competition is supported by Sage (UK) Ltd, eBay, The bgroup, Platform One ltd and BT and will be launched on 18 November from 10am to 4.30pm at the Business Link Start Your Business 2006 event on Stand 17 at St James' Park in Newcastle.

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