The Institute of Fundraising is giving charities the chance to pitch for up to £5,000 of funding at a Dragon's Den-style event at its National Convention in July.

Up to five fundraisers working with charities will have the chance to deliver a five-minute pitch to a panel of three to five dragons. Each dragon will put up £5,000 to help make suitable fundraising ideas a reality. The top pitches will be chosen by the panel and the amount of the allocated prize will depend on the impact the Dragons think their money will have on the applications.

The panel will be made up of major donors who have shown an interest in getting more involved with the sector. Only one Dragon has so far been confirmed for the event, a spokesman for the IoF advised - Matthew Bowcock, chair of the Community Foundation Network and co-founder of Localgiving.com. Bowcock has founded technology companies in Australia, the US and the UK and in 2000 set up the Hazelhurst Trust.

The event will take place on Tuesday 3 July at the IoF National Convention in front of a live audience which will also participate.

Simon Morrison, head of communications at IoF, said: “The Dragon’s Den is one of the highlights of the convention.  Time is rapidly running out for people to apply, so I would urge them to jump on the band wagon and become a Dragon pronto!”

Convention-goers wishing to participate in the Dragon's Den event must fill out the IoF form before 31 May.