One of the UK’s largest resellers has kicked off a competition to find “the UK’s answer to Bill Gates” among next year’s crop of university students.

Public sector speciailst XMA will provide £3,500 towards the cost of the winner’s tuition fees, a Toshiba laptop, a summer work placement at XMA and the services of a mentor for their first year at university.

The competition, which is sponsored by Toshiba, is open to anyone starting university in 2010 and with an interest in getting a head start in IT.

Guy Bates, XMA business development director, said: “With tuition fees, living costs, student loans and overdrafts all mounting up, many students in the UK have become completely overwhelmed by debt.

“This competition is a great opportunity to give someone a head start at university – not only on a monetary level but the additional support from a business mentor will go a long way to helping them excel in their studies.”

Bates will be working with the Guardian’s technology correspondent Bobbie Johnson and former Dragons’ Den star Doug Richard to pick the winner.

“Bill Gates is an icon because he’s unique,” said Richard. “He was the first great software billionaire and a huge inspiration in the IT world. Our challenge is discovering the talent before they’re at Bill Gates’ level.”

Students can nominate themselves online until Sunday 28 February 2010 at www.thenextbillgates.co.uk, and also have the option of including a one-minute video to support their entry.

Once all entries are in, a shortlist of three finalists will be invited for an interview with the panel and the winner announced in May.