PROPERTY Company Canmoor, has announced the winner of its inaugural North West Entrepreneur Award scheme, launched to celebrate young and dynamic business ideas.

Trafford entrepreneur, Paul Banks, and his start-up venture, Alchemy Holdings Ltd, was selected from a short list of five Manchester companies and awarded the title of 2013 Entrepreneur.

As part of the award, the innovative Sale company has secured a complimentary Canmoor unit at Westbrook Park in Trafford Park for its use over the next 12 months.

Set to become an annual award event, Canmoor, along with representatives from Manchester Chamber of Commerce and Trafford Council, considered the Entrepreneur Award applications.

Alchemy will move into their new unit in the next few weeks. The company draws on research from Manchester, Leeds and Lancaster universities and designs and develops environmentally friendly printing solutions including state of the art ink.

Launched in March this year, Alchemy has developed revolutionary products that replace expensive, disposable ink jet cartridges.

Mark Braithwaite, head of Canmoor Manchester, said: “We have been highly impressed by the quality of the applications we’ve received from budding entrepreneurs. The final decision to award Alchemy was unanimous, however, as we felt the company showed huge potential with its innovative and exceptionally well-researched product line, coupled with a solid business plan.

“The 2,500 sq ft unit at Westbrook will provide Paul with a strong base to grow the business in an excellent location and we’re looking forward to watching his progress over the coming months.”

Cllr Michael Hyman, Trafford Council executive member for economic growth and prosperity, said: “I’m delighted that a Trafford company has won.

“Our Economic Growth Team has worked hard to help local businesses in identifying the right support for their business, having actively promoted the competition as well as other business support opportunities. I wish Paul every success.”

Paul Banks, the founder of Alchemy, added: “Winning this competition will allow us to dramatically accelerate our growth, and we are now looking to recruit staff and start trading once we move into our unit.

“Not only will the new premises at Westbrook provide Alchemy with a professional image as we grow, we’ll also have excellent secure storage facilities. Trafford is also an ideal location for recruiting talented people which means we’ll be well placed to expand the business in the north west rather than locating elsewhere.”

The other applicants shortlisted were: Stuart Hamer and Gimme 5s, Damian Webb with Merton-Lazard, Shameen Akhtar with Planet Green Team Ltd and James Hibbert with Lightening Laundry.

Canmoor will be launching the 2014 North West Entrepreneur Award in the autumn and will be inviting companies to register interest for an application form.