Talented young entrepreneur from London named as finalist in prestigious enterprise competition

A talented young entrepreneur will be flying the flag for London after making it through to the final of the national Enterprising Young Brits competition and local people are being given the opportunity to back him in an online public vote.

Steve Lowy has been named as a finalist for his Bayswater-based business Umi Hotels, a venture that strives to bridge the gulf between Britain’s budget and luxury hotels. The twenty-nine year old entrepreneur will now pitch to a panel of judges at the final, due to be held at the prestigious Institute of Directors in London on 6 April 2010. In addition, the public can choose the winner of the coveted People’s Choice award in an online vote, open from Tuesday 23 March at www.enterpriseuk.org/youngbrits.

Commenting on his achievement, Mr. Lowy said: “Reaching the final of such a prestigious enterprise competition is fantastic. I know I’ll be up against some tough competition at the final, but I’ll certainly do my very best to bring an Enterprising Young Brit award back to London”

Enterprising Young Brits shines the spotlight on talented young people who are bucking the recession by seizing opportunities to turn their ideas into successful businesses, generating jobs and wealth within their communities. Run by Enterprise UK and supported by the Institute of Directors, the Daily Mail, and the Department for Business, Innovation, and Skills, the competition highlights that age is no barrier to turning ideas into reality.

Scott Cain, Deputy Chief Executive of Enterprise UK, comments: “Enterprising Young Brits such as Steve have shown that age is no barrier to entrepreneurial success. I’d encourage people of any age to take inspiration from the finalists’ ideas and their can-do spirit. With so many talented young business brains competing this year, it’s sure to be an exciting final.”

This year’s 25 finalists are split over five categories:

  • New startup – For enterprising individuals who have started their own business, large or small, within the past three years.
  • Social, ethical or environmental – For ventures combining the principles of a successful business with an emphasis on the social, ethical or environmental benefits it can provide.
  • Teen – For anybody aged 13-19 who is making their enterprising idea happen.
  • Creative – Rewarding enterprising individuals in the creative industries such as fashion, music, design, or the arts.
  • Open category – Entrants who business did not immediately fit into one of the four categories above were welcome to enter the Open category.

The winner of each category will take home £1,000 and a trophy.