Launch of foundation that aims to encourage enterprise

Mr Hodgkinson has created The Alchemists' Foundation, which aims to "create a platform for action that creates change in people".

The foundation's supporters include the former CBI Director General, Lord Digby Jones, who is the organisation's patron.

The foundation's launch event, which was held at Manchester's Deansgate Comedy Store, featured speeches from Tom Bloxham, the founder of award-winning urban renewal property development firm Urban Splash; Jo Willoughby, an international paraplegic ski champion and the entrepreneur Deirdre Bounds.

The Manchester showcase was the first in a series of events which will be held to encourage enterprise. The next event is due to be held at Hull Truck Theatre on February 17, 2011.

Mr Hodgkinson said: "The Alchemists' Foundation is the result of my own experiences and has been inspired by the key individuals in my life. Inspiration alone won't change you. It's the actions you take when you wake up tomorrow morning."

In June, Mr Hodgkinson was awarded a CBE for his services to business and regeneration. He is due to step down from Yorkshire Forward later this year after serving as chairman for more than six and a half years.

Yorkshire Forward, which has spent more than 2bn since it was founded in 1999, will be wound up by mid 2012 and replaced by local enterprise partnerships, which will be formed by local authority and business leaders.