Lions' Lair has really caught the imagination of the industry.

Our industry has built itself around entrepreneurs and the Lions' Lair competition gives people in the electrical retailing and wholesaling industries the chance to not only come up with an idea for a new product, but to be rewarded for doing so.

At the end of March, Jamie Lennox, the managing director of Home-tek International, which is sponsoring Lions' Lair, will pick the second monthly winner who will go head-to-head with the five other monthly winners.

The judges, or The Lions, as I have named them, are right behind the competition and are looking forward to seeing the shortlisted ideas.

Now is the time to get your entry in – we want to hear from you.

We don’t want you to develop a prototype, but we want your ideas.

If your product is commercially viable and marketable, you have the chance to win a trip for two to Hong Kong and China to meet Oscar Chow, the owner of Yasuda Technology, Home-tek's manufacturing arm.

And this could just be the start!