The clock is ticking for companies interested in grabbing a slice of $1 million in business funding.

Companies have until the end of today to file an initial application for the University of Auckland Business School Entrepreneurs' Challenge.

On offer is $1 million in funding, available to one or more companies, business support and mentoring from business leaders.

Now in its second year, the Entrepreneurs' Challenge - funded by a $3 million endowment from expatriate businessman Charles Bidwill - aims to boost New Zealand companies set on becoming a local or international success story.

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Source: Helen Twose, www.nzherald.co.nz