The search is on for the businesses in Brighton and Hove with the highest growth potential.

The Hub 100, an initiative to identify and support the 100 companies in the city with the most promising outlook, was launched at the Brighton Dome in front of more than 150 business leaders.

Guest speaker Jim Brathwaite, chairman-designate of the South-

East England Development Agency (Seeda), said: "This is a fantastic local network that will, no doubt, help to further build the economy in Brighton and Hove.

"The selection process and tailored business support will help find those entrepreneurs with great ideas and ensure they successfully build their business.

It's a fantastic initiative, I just wish it had been around when I first started in business."

Companies selected for The Hub 100 will be invited to specify the issues that could limit or slow their growth.

The information will be passed to the city's decision-makers for consideration in planning.

A support programme will be based on what businesses need rather than what is available to them.

The scheme will include specially-commissioned seminars and training workshops.

The Hub 100's network will provide access to new partners, potential investors and support services through its networking events and online services.

Director Peter Burden will be responsible for overseeing the initiative for the next three years.

He said: "Brighton and Hove already has a proven strong local economy and The Hub 100 is an initiative that will further build on that success.

"We aim to help The Hub 100 companies generate an additional £10 million in revenue and £5 million in investments for the region in the first year."

Three of the city's best-known entrepreneurs spoke about their own struggles to get started and the high standards they had set themselves in order to become established.

JC Reid, managing director of Skint Records, Derek Chapman, managing director of civil engineering and building firm Adenstar, and Allan Syms, chief executive of Sussex IP, an organisation acting as a link between education and business in Sussex, were chosen as examples of the types of businesses that would fit with the Hub 100's guidelines.

Emily Aitken, executive director of Wired Sussex and part of the Hub 100 management group, said: "Many businesses have already expressed an interest in joining, demonstrating the high demand for the service.

"We are receiving inquiries daily and we would encourage anyone who hasn't yet registered an interest to get in touch and stake a place in the selection process."

The region's entrepreneurs, with the most exciting business proposition, will be selected according to an analysis of their current business performance, growth potential and the expected future impact on Brighton and Hove's economy.

The selection process will be managed by the Sussex Innovation Centre (Sinc) and selected professional advisors.

The board includes Simon Fanshawe as chairman, Mike Herd, Sinc executive director, and Scott Marshall, head of economic development at Brighton and Hove Council.

Companies with an interest in joining the scheme or wanting further information, should email register@thehub100.com.