Thirty-four teams from Scotland’s 16 higher education institutions will take part.

There will be four teams from the University of Abertay and three from Dundee University.

Each team must develop their own, unique business plan and give a presentation on it to a team of expert judges.

The winners will be awarded a £5000 cash prize plus up to £5000 worth of in-kind start up support to get their businesses off the ground. The total prize fund for the competition is £40,000.

Guest speakers at next month’s event will include Chris Gorman, founder of mobile phone retailer DX Communications and Tim Smit, who spearheaded the campaign to create the Eden Project in Cornwall.

Sharon Bamford, chief executive of competition organisers the Scottish Institute of Enterprise, said this year’s entrants had developed a host of exciting ideas.

“We are delighted with the very high standard of entries we’ve received,” she added.