Dragons' Den star Duncan Bannatyne is calling on entrepreneurs across the UK to take part in an innovative business planning competition to help drive the knowledge economy in Wales.

The serial entrepreneur is backing the 2010 Technium Challenge, a Welsh Assembly Government and European Union backed project, which looks to uncover the most innovative technology companies across the UK with high growth potential.

"I know from firsthand experience how hard it is to start a business from scratch. There are a number of gifted people who do not lack ideas but need some support to turn their vision into a profitable enterprise. Technium Challenge has shown over last couple of years what young business people can achieve given the right kind of assistance," said Duncan Bannatyne.