Steve Morgan has today launched an extension of The Morgan Foundation's Entrepreneur Awards to encompass the Wolverhampton area.

Businesses and entrepreneurs from Wolverhampton and its surrounds will now have the opportunity to compete across five categories for a share of cash prizes and services worth over £150,000.

Designed to encourage a whole new generation of entrepreneurial role models, the extension of the initiative to the Wolverhampton area follows the huge success of last year's inaugural awards which were open to participants from Merseyside, West Cheshire and North Wales.

With sponsorship from Barclays Commercial, there are dual launches to this year's award scheme, with today's event at Molineux being followed by another in Liverpool tomorrow.

Today's announcement follows the relaunch of Wolves Aid in February in which Steve Morgan revealed that The Morgan Foundation would donate £125,000 of its annual budget to Wolves' charity, making it the largest such organisation in football.

Having launched his business life by using a £5,000 loan from his father to help found one of the UK's most successful house builders in Redrow, before moving on to a variety of property and leisure based businesses, Steve is now hoping to help similarly ambitious entrepreneurs and young businesses achieve their potential.

Steve explains: "With the Morgan Foundation already committed to providing support to the work of Wolves' Aid, I am delighted to announce we are now extending the Entrepreneur Awards to the Wolverhampton and Shropshire area.

"These awards and the significant prize money are intended to provide a real boost to entrepreneurs and new businesses.

"The Awards are intended to highlight what can be achieved and encourage would-be entrepreneurs to hopefully go on and create wealth and prosperity for themselves and the economy.

"The inaugural event last year proved a huge success, with over 150 high quality entries received from a diverse range of businesses.

"I am sure there are some equally proficient candidates from the Wolverhampton and Shropshire area who will give myself and the judging panel plenty to think about.

"I would urge any young business or entrepreneur to put together an application because the prize money could be used as a serious boost in their business aims."

Applications for the various categories must be submitted by September 12 with a panel of distinguished judges then selecting the finalists.

For more details of the categories, and to download an application form, visit the new website www.mf-awards.co.uk, which goes live after tomorrow's launch in Liverpool.

The closing date for applications is September 12. Those individuals or companies short-listed will then be assessed and a short film made of their businesses to be screened at the Awards Ceremony at Carden Park Hotel on November 20. The final judging panel for the awards will include Steve himself.

Various business leaders and civic dignitaries were at Molineux for today's launch, which featured an introduction from Steve, details of the application criteria and a review from last year's winners of how the awards made a difference.

PICTURED (from left): Chris Larkin, of last year's winners So Baby, John Powell, from sponsors Barclays, Steve Morgan and Nick Ashfield, of last year's winners, Championship Miniaturegolf.

* More news and pictures from today's event will be posted on WOW later.