Jonathan Francis, 19, of Hazelwood Drive, Bourne, picked up Real World Magazine’s entrepreneur of the year award and a £3,000 cash prize for his online diecast model website.

He picked up the award at a plush London ceremony held at the Design Council in Covent Garden on Wednesday night after beating off competition from two runners-up and hundreds of entrants from across the country.

Former Bourne Grammar School pupil Jonathan said he was shocked to win.

He said: “I was just absolutely ecstatic and I can’t believe it. It is has been quite a long process from when I first submitted my video entry five months ago to now.

“I am going to use the cash prize to reinvest in stock for the site. Everything I make just goes straight into my businesses anyway.”

He celebrated his win with drinks after the ceremony.

He said: “It was a good opportunity to network and I picked up some useful contacts. There was some great people there.”

To win, Jonathan entered a video detailing his success on the Dinky website, which he set up five years ago. The website initially made a loss, but he now turns over £60,000 a year of which half is profit.

Jonathan, who studies management with French at the University of Nottingham, said: “I set up the site because I have always been interested in business and my stepdad really encouraged me when he came home with a vintage model set.

“I set up an eBay account to sell models I had bought, even though I was too young to have an eBay shop. You’ve got to break the rules in business though and I do enjoy it.”

Jonathan also has a software business and a computer business.

Students across the country were asked to vote for their favourite videos to get a shortlist of eight. The final eight then had to give a presentation to a panel of judges made up of the organiser Real World magazine and the competition sponsors, which included Enterprise Rent-a-Car.

Darius Norell, founder of Real World magazine said: “The calibre of the students who have made it to the final list is exceptional. While making the most of their time at university they have developed new skills that can only benefit them in the future.

“They share a confidence and determination to succeed that defies the lazy student stereotype.”