A search for the UK's most innovative and inspirational entrepreneurs has been launched by British Telecom (BT).

The contest hopes to locate the 20 British business owners who have used technology to take their companies in a new direction, as well as recognising the best female, male and young entrepreneurs in the country.

Winners will be memorialised by the well-known photographer Perou, who has also created images of celebrities such as David Beckham and Coldplay.

Bill Murphy, managing director of BT Business, explained that the competition aims to raise the profile of smaller firms, saying: "[Small and medium-sized enterprises] are the lifeblood of the UK economy.

"We want to applaud their determination to succeed, celebrate the power of the idea and capture the essence of their entrepreneurial spirit."

Companies which are privately owned, with a workforce of fewer than 75 people and which have used technology to become more successful are eligible to enter.

BT operates in 170 countries.