Presentation ceremony of the Towergate Accumulator Challenge to raise money for St Nicholas Hospice Care at Ravenwood Hall and Hotel in Rougham.; Barbara Gale St. Nicholas Hospice Care Chief Executive Officer and Paul Whittaker CEO of Towergate Risk Solutions with all the participants behind.

MORE than 50 businesses are set to battle it out to be named champs of the Towergate Accumulator Challenge 2012, when the three-month fundraiser kicks off next week.

Each of the 51 teams involved has been invited to a launch evening, taking place on Tuesday, by event sponsors Towergate Insurance, of Newmarket Road, Bury, to receive their £50 note.

They then have the task of turning that £50 into as much money as possible for St Nicholas Hospice Care. Any fundraising activity is allowed – as long as it is legal!

Paul Whittaker, chief executive of Towergate Insurance, said: “The success of the challenge is all about how much we can raise collectively – we’re determined to beat last year and get to the magical £50,000 mark.

“It is a fantastic event, both in terms of helping to raise money and for companies to have a great deal of fun over the summer months, helping to build team spirit in their business while supporting a great charity.”

Last year, 49 businesses fought each other to be crowned champion and turned their stake money – donated by Towergate – into £40,243 for the hospice.

The 2011 corporate champions were Curve Motion with a total of £3,452, raised through a sponsored skating marathon and slave auction. Firms already signed up to take part include: Baker Tilly; Knights Lowe; Asda; Abbeycroft Leisure; Center Parcs; Highpoint Prison; Chassis Cab; Halifax and Glasswells, in the initiative which is suppported by the East Anglian Daily Times and Bury St Edmunds Mercury.