A COMPANY that was recently narrowly beaten by director Steven Spielberg for an award has been named one of the region's rising stars of business.

Qurios Entertainment won the Tees Valley's best new business award and the creative industries award on Thursday night.

The business was recently shortlisted for an animation at the Soho Short Film awards, but lost to Mr Spielberg.

Niel and Diane Bushnell set up Qurios Entertainment in May 2002, providing arts services for the computer games and television industries.

It is the fifth anniversary of the Best New Business Awards, which took place at the Riverside Stadium, Middlesbrough, and which recognises businesses that have been operating for three years or less.

The event, promoted and sponsored by Business Link Tees Valley with the Tees Valley Partnership, had 120 entries this year.