Budding tycoons are being invited to Oxford to get the lowdown on becoming an Internet millionaire.

As the Government scooped a 22bn windfall from the next generation Internet-ready mobile phone licences, a special conference is being held to turn the spotlight on Oxfordshire's booming hi-tech businesses.

Dr Peter Johnson, chairman of the event, Venturefest 2000, said: "Every week a new Internet start-up company turns its founders into new millionaires, and people want to know how it's done. Following the tremendous success of last year's Venturefest and the interest in Internet ideas, we decided to include dedicated seminars to address the issues surrounding the new economy in this year's programme." The Internet Track at Venturefest 2000 will feature some of the world's best-known new media success stories.

They will also provide advice on how to launch an Internet company, from gaining funding to marketing the site.

One of the UKs highest profile Internet companies, last- minute.com, was recently floated by Oxford's Martha Lane Fox.

The conference for venture capitalists, entrepreneurs and academics, takes place at Oxford Brookes University on June 26-27.

For more information, visit the website www.venturefest.com