“With loans still hard to come by, people are looking for new and innovative ways to gain funds for their business idea,” comments Dolan, who started his first company from his bedroom at the age of 23 and now has a portfolio of companies worth more than £50m. “We are only just beginning to see the full potential of Twitter as a communication medium. This unique method of investment is the next step forward.”

Dolan has thrown down the gauntlet to entrepreneurs to send their 140-character pitches to @simondolan. He’ll then use his cash – and expertise – to help turn the best ideas into businesses.

It’s the birth of the micro pitch. Just picture it: Charles Dunstone running "Text Your Pitch To Me" days or Niklas Zennström running investment rallies over Skype.

Related articles:"Tweet" your business plan to Richard Branson

Share this story