Virgin Media Pioneers, part of Sir Richard Branson’s Virgin Group, is offering start-ups and innovative small businesses the chance to pitch for investment to the boss himself at the Branson family home in Oxfordshire.

The annual ‘Pitch to Rich’ competition invites young people to submit their business plans and two winners – one start-up and one established business – will win £5,000 plus a package of legal, branding and marketing support.

The Start Up Award, in partnership with Virgin StartUp, is aimed at businesses less than a year old meeting the government’s Start Up Loans scheme criteria.

The Innovation Award is for small technology businesses that are already trading successfully. Winners get free enrolment to the Accelerator Academy training and mentoring programme with free workspace and access to capital.

Semi-finalists get an HP tablet.

Commenting on the competition, Sir Richard said: “Starting a business with very little capital is something I can relate to but with a little backing early on and the right idea, anything is possible.”

Last year’s Pitch to Rich competition was won by Joshua and John Okungbaiye, founders of High Spirit, for their brand of theft-proof rucksacks.

Virgin Media Pioneers is a peer-to-peer entrepreneurs’ network with 6,000 members.