Hundreds of companies have lined up for a shot at up to a million dollars in growth funding.

The University of Auckland Business School Entrepreneurs' Challenge has received interest from more than 200 companies wanting to turbocharge their business with the capital and mentoring on offer.

Business School dean Greg Whittred said interest had come from sectors as diverse as engineering, aquaculture, tourism and software development.

Entries will be whittled down to a final six who will meet a seven member investment committee charged with making the final decision on who will benefit from the funding.

Investment committee member and former stockbroker Don Turkington said the challenge aimed to transform companies rather than create them. Export potential was an advantage but he didn't rule out awarding the money to a company that has potential to dominate the domestic market, pointing to the success of The Warehouse.