The competition, which is being run by Bristol News and Media - publisher of The Post and the Western Daily Press - aims to give new companies a helping hand.
A special panel of judges has been drawn up for the competition which will see the winners offered free advertising and mentoring.
The shortlist includes: Arnos Vale Cemetery Enterprises, Angel Berry, Matthew Bridges Design, 360 Pole Dancing, The White Hart Inn, Atmosphere Electric Bikes, Templestone Masonry, Kiss The Frog Again, Made in Bristol, Emmeline Simpson, Quincy Lampshades and Broomfield Care.
The Local Business Accelerators scheme is designed to give promising young businesses a powerful boost of free local newspaper advertising and mentoring.
All businesses that enter the scheme have the chance to be one of the three to win a �10,000 advertising campaign in bnm's newspapers and magazines.
They will also receive mentoring sessions from leading local business figures Mike Bennett, Debbie Fortune and Alan Renwick.
Mike, one of the city's serial entrepreneurs, started his business life in 1997 when he set up one of Bristol's very first digital agencies.
Today e3 is a multi-award-winning business, employing 55 people working alongside major brands such as Orange, Land Rover and Sony.
He is the co founder and director of the hugely popular bar and restaurant on Park Street, Goldbrick House.
More recently Mike took on his first "proper job" as the city's place making director which saw him develop See No Evil – Europe's biggest street art festival.
Debbie Fortune started her career in estate agency in 1978.
By 2005, she had developed a career with a well known large independent estate agent, becoming area director. When her employer was sold to a large corporate estate agents, she started her own business, opening the door in January 2009.
At the end of her fourth year of trading, she now employs 10 staff in her office in Wrington.
Debbie is an ambassador to the National Apprenticeship Scheme and 'mentors' pupils from a number of local secondary schools in North Somerset. Debbie is also an Associate Member of The Guild of Professional Estate Agents.
Alan heads up Bristol News & Media, one of the UK's leading regional publishers.
He has over 25 years' experience in the media sector, covering digital, broadcast and publishing businesses.
Alan also has a strong entrepreneurial track record, having been the founder of the international consultancy Ocean Strategy as well as a member of the management buy-in team that formed the TSL Education business.
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