More than 40 businesses are battling each other to be named champions of the Towergate Accumulator Challenge 2013, after the three-month fundraiser kicked off.

Each of the 44 teams involved was invited to a launch evening by event sponsors Towergate Insurance, of Newmarket Road, Bury St Edmunds, to receive a crisp £50 note.

They now have to turn the cash into as much money as possible for St Nicholas Hospice Care. Any fundraising activity is allowed – the crazier the better.

Barbara Gale, chief executive of the Bury-based hospice, said at Thursday’s launch: “It is great that so many people are taking part and having fun whilst supporting the hospice. The hospice is not just about sadness and endings; it’s about making the most of every moment.

“This challenge is about having fun because that is what is important in life.”

Last year, 52 businesses were in competition with each other to be crowned champion and turned their stake money – donated by Towergate - into £65,549 for the hospice.

The 2012 corporate champions were Jacobs Allen, raising a staggering £9,476.54 through a race night, wine tasting evening and a ready steady cook challenge and collection.

Paul Donno, of Jacobs Allen, said: “Accumulator Challenge is an excellent way for businesses to get involved with supporting a local charity and really having some fun. It’s a challenge which really brings businesses together.”

Firms signed up to take part include Intersport, Knights Lowe, AXA, Post Office, CurveMotion, NatWest, Highpoint Prison, Menta, Prolog and Glasswells.

Liz Spillane, hospice corporate fundraiser, said: “The past three Accumulator Challenges have been really successful, so we are really excited to see what the businesses are going to come up with this year. From what I have heard so far we will certainly be in for a few surprises.

“Thanks to the East Anglian Daily Times and Mercury for supporting the Accumulator Challenge again this year – we really appreciate it.”

Prizes in categories including most innovative idea and outstanding teamwork will be given out at the end of the challenge.

For more information, contact Liz Spillane on 01284 715560 or email liz.spillane@stnh.org.uk