An entrepreneur has put up a £75,000 prize for the most improved tech start-up company on a new “boot camp” programme in Birmingham.

The Oxygen Accelerator is a 13-week intensive mentoring and training programme for 10 technology businesses selected from hundreds around the world to join the initiative at Birmingham Science Park Aston.

Founded by care industry entrepreneur Mark Hales and Birmingham Science Park Aston, Oxygen Accelerator aims to find and nurture tech firms and open up new channels for follow-on investment.

At the end of the programme the firms will present their products to venture capitalists and angel investors.

Now, as an extra incentive, Mark Hales, who made his fortune from care business Claimar, has put up £75,000 of his own money to be won by the business voted for by mentors, investors and peers as the most improved on the programme, which starts in September.

Mr Hales said: “We are keen to bring technology into the UK and create a tech-hub outside London. Investing a further £75,000 into the team that has shown a marked improvement will help fuel inspiration, determination and the passion needed to make a business work.”

Applications are for the scheme are open until Thursday June 30 at the Oxygen Accelerator website.