Finalists of the British Council’s International young fashion Entrepreneur of the Year Award are coming to Nottingham to find out how to become the Paul Smiths of the future.

Finalists will meet Sir Paul Smith himself and take part in a master-class as part of their exclusive tour of the UK’s fashion industry in February.

The inaugural International Young Fashion Entrepreneur of the Year Award (IYFEY) aims to champion and celebrate the importance of creative entrepreneurs in emerging markets. It will showcase entrepreneurial achievement and leadership potential and is open to fashion entrepreneurs between 25 and 35 years of age.

The ten finalists from Ghana, India, Indonesia, Lebanon, Mexico, Nigeria, Pakistan, Poland, Sri Lanka and UAE are drawn from every part of the fashion industry, including design, production, marketing and communications.

The young fashion entrepreneurs will be in Nottingham from 5-6 February 2008 to take part in industry visits and networking before travelling back to London to attend London Fashion Week. The London visit will include a master-class with Nottingham’s own Sir Paul Smith, during which the finalists will be able to question him about the development of his highly successful fashion business.

Sir Paul Smith says: ‘The world may not need to produce more clothes or factories; but it does need individuals who can approach the business of fashion in creative, interesting and innovative ways. I hope that the International Young Fashion Entrepreneur award will demonstrate that there are those individuals who can make that worthwhile contribution to our world.’

The tour will include a visit to Nottingham as a key fashion destination outside of London, hosted by Vision Nottingham, part of Nottingham City Council, with key partners in the industry such as Nottingham Trent University, The Designer Forum and Nottingham Creative Network involving many other local businesses and entrepreneurs.

Beatrice Pembroke, Programme Manager at the British Council said: ‘Paul Smith was our inspiration for looking at Nottingham, but we were also really excited about the general entrepreneurial spirit and creative activity that we found there - particularly in the fashion sector.’ She added: `Vision Nottingham seem to be a key part of this and their enthusiasm and shared interest in the initiative made them an obvious partner.’

Rob Wadsworth, Team Leader for Economic Development at Nottingham City Council, said: `We are delighted to host the inaugural 'International Young Fashion Entrepreneur of the Year' award. The Creative sector in Nottingham is a strong driver of economic growth and the City Council and a range of partners are working to increase the international profile and footprint of Nottingham design. Hosting this event sends a clear message about both the current achievements and scale of ambition for Nottingham in this sector’.

Judged by a panel of leading industry figures including Colin McDowell, Suzanne Tide-Frater, Julie Pinches and Alberto Bartoli, the winner will be announced at an award ceremony at 12 noon on Wednesday 13 February at the Exhibition at London Fashion Week and will receive a prize of £7,500.