Companies in Tower Hamlets are in with a chance to win free advertising and business mentoring in a �15m scheme, backed by the Prime Minister and a Dragons Den judge.

Companies in Tower Hamlets are in with a chance to win free advertising and business mentoring in a �15m scheme, backed by the Prime Minister and a Dragons Den judge.

The Local Business Accelerators campaign supported by David Cameron and TVs Deborah Meaden, is spearheaded by the voice of local media, the Newspaper Society. Nearly 500 local press publications, including the East London Advertiser, are this week joining forces to promote the strength and value of local newspapers for local businesses and communities.

Together we will search for the nations most promising young businesses and help them accelerate their success with top professional advice from local business mentors, plus a substantial allocation of free advertising space.

Mr Cameron said: “The campaign will help provide the boost smaller businesses need right now. By joining forces to launch this excellent initiative, local newspapers are providing exactly the sort of practical, hands-on support that will help young local businesses succeed and grow.”

One lucky business picked from the regional winners will also get individual mentoring from the schemes national ambassador Deborah Meaden for one year.

Ms Meaden said: “I’ve seen the unique contribution that local press makes to the success of local businesses time and again with my own ventures.”

Members of the local business community alongside the Advertiser’s editor Malcolm Starbrook will make up the judging panel and shortlist entries before awarding three lucky Tower Hamlet businesses with the prize of free advertising and business advice. They will also look for that one overall star business to put forward for mentoring by Ms Meaden during 2012.

Mr Starbrook said: “We’re keen to support this great opportunity for newspapers like the Advertiser to get fully behind people whose ideas will unluck the future.”

The scheme is open to all local businesses between one and three years old. They may have a great idea or product, or even found a new market. They are the kind of businesses that will create new jobs and pride in the community.

If you run such a business, or know anyone who does, visit www.accelerateme.co.uk. Entries close 14th November 2011.