This summer budding entrepreneurs will be fighting it out to win the backing of one of Britain’s best known business gurus as Peter Jones puts his money and reputation on the line in ‘Tycoon’ on ITV1

Before the age of 40, Peter Jones had built a £200 million business empire made up of businesses ranging from telecoms, leisure and property to publishing and media. In Tycoon he will invest both his money and expertise in businesses he believes have the potential to make big money - and to make it fast.

“I believe Britain is an innovative and entrepreneurial nation at heart but we don’t do enough in this country to nurture talented people and help them turn their business dreams into realityâ€? says Peter. “Tycoon is about finding Britain’s next big business success story. I will be putting my own money and reputation squarely on the line and I don’t care whether you are 17 or 70, so long as you can prove you have the passion to work with me to take your idea from zero to something special as quickly as possible. This is for anyone that has dreamt of running their own business. We’ve heard of the American Dream - this is the British Dream.â€?

From January 6th people who believe they are a potential Tycoon will be able to register their idea and details at www.itv.com/tycoon If successful they will be selected to take part in the show later this year.

“We’re going to be scouring the nation to seek out men and women of all ages and from all walks of life who believe they have an outstanding idea� Peter explains. “But more than that I’m looking for people who have grit, passion and determination to succeed – and a willingness to let me put them and their idea through a gruelling challenge to make money fast and build a business for the future�.

Once the successful entrants have been chosen, Peter will challenge them to follow his ideas and methods in order to turn the initial investment into a huge profit within weeks. “Tycoon puts my beliefs and business principles right in the public spotlight but I’m determined to succeed� he said. “It’s a show about people with passion, drive and energy and for one person at the end there is a magnificent reward for succeeding - the chance to own the business they always wanted and the chance of becoming Britain’s next Tycoon.�

Layla Smith, ITV’s Controller of Alternative Programming, said “Tycoon is an incredibly exciting project for ITV and we’re delighted to be working with Peter Jones.

“It will be as much of a challenge for him as it will for the people taking part, so I for one can’t wait to see what happens. One thing for sure is that with Peter’s drive, experience and financial backing this show will change the lives of those involved forever.�