Millions of pounds are being raised to help young entrepreneurs with no capital start their own technology companies.

The Prince's Trust Technology Leadership Group aims to raise £5 million from the UK's leading tech companies by March 2005.

This money will then be matched by the Government.

The resulting £10 million will launch more than 3,000 enterprises.

The first £1 million has enabled more than 300 new businesses to be started.

Hove-based designer Michael Setek, 27, is one of those who has benefited.

Michael, set up art4site in 1999 with a £2,000 loan from the trust to buy a new computer.

He recently received a £3,000 expansion loan from the trust to pay for a scanner.

He said: "I found out about the trust through the local Business Link. The loans from the trust were cheaper than bank loans, which I'd had trouble securing, and there were additional benefits, such as a marketing grant and advice from a business mentor."

Setting up a design business was the furthest thing from his mind when he left art college.

Michael said: "I didn't much like computers when I was at college but I bought one and I found it useful.

"I never expected to start a business in this field but I started doing some work for my parents' company and I've never looked back."

He specialises in fine art reprographics, printing and web design and has a number of clients ranging from artists to larger organisations, such as Czech Tourist Authority.

Michael said: "I've not done much marketing and I've picked up most of my business by word of mouth.

"I have quite a lot of work but I know I need to improve my marketing skills if I want to grow."

Michael's mentor Gus Ferguson said: "The people the trust helps often haven't any experience of what's involved in running a business and what they need is a mix of advice and support.

"I'm working with Michael to improve his marketing skills but I'm also a sounding board for his ideas and someone who can point him towards other people and organisations that can help him."

Michael and Gus, who is a graphic designer, meet monthly.

Gus said: "I work for the NHS and I wanted to widen my experience so I could move into management but I've found it interesting in itself, especially once you know you really can make a difference.

"I've mentored other people but none has been as successful as Michael.

"He's very talented but I'm trying to instill in him important business values, such as that a job isn't done until the cheque has been cashed."

The Brighton and Hove office needs more people to act as mentors.

Gus said: "You get a postcard from Prince Charles every Christmas, which makes everything worth while."

If you are interested in becoming a mentor, call Julia Wright on 01273 723399.

Companies interested in becoming involved in the Technology Leadership Group should call Julian Barrell on 020 75437331.

To find out about starting your own business, call 01273 723399.

www.princes-trust.org.uk