City urged to tap into its vital entrepreneurs for growth

Mr Richard, a former star of TV's Dragons' Den, will speak at the Start Here! Starting and Growing a Successful Business event, which is being hosted by Hull University in partnership with The National Consortium of University Entrepreneurs and sponsored by Yorkshire Forward, Hull Youth Enterprise Partnership and the Graduate Entrepreneurship Project.

Mr Richard will warn that Hull is in danger of being left behind on the road to economic recovery unless it taps into its entrepreneurial potential.

"Hull has a lot in common with a city like Pittsburgh in the US, which also has a strong industrial heritage but has suffered at the hands of changing industry and a difficult economic climate," he said. "Like Pittsburgh, Hull has to harness the city's entrepreneurs to develop new business models and explore new industries to stimulate economic recovery."

His comments come in reaction to a Cities Outlook report for 2010, which showed Hull as a city that will be left behind unless new enterprises take advantage of new opportunities.

The report shows that rates of entrepreneurialism correspond with strong economic performance.

Mr Richard said: "This conference is testament to the talent and potential that can make a real difference. However, we must support those who take on the risk of starting a new business.

"Given our urgent need for economic growth now, we must reduce regulatory burdens on small businesses and support a section of society who could be pivotal in lifting the UK out of recession."

Mr Richard has recently launched an Entrepreneurs Manifesto, which calls for a new system of tax breaks to encourage start-up businesses. He believes it can be paid for by a radical overhaul of the Government's business support structure.

The former Dragon, who has 20 years' experience of developing technology and software ventures, featured in the first two series of Dragons' Den.

He is the founder and vice-chairman of the Cambridge Angels and was formerly Chairman of the Conservative Party Small Business Task Force.