Twelve tech companies are pitching their ideas to the Duke of York in Cardiff for the first time.
It is part of competition Pitch@Palace with the three winners from Wales will secure a space at a business boot camp.
They will then have the chance to win a spot in the final at St James Palace in London.
The competition was started by Prince Andrew in 2014, designed to give an opportunity for new businesses to present their ideas to industry leaders.
HRH Duke of York said:
“It is actually fascinating to see how different parts of the country are dealing with their innovation and their start up and enterprising community.
“The devolved administrations in Wales, Northern Ireland and Scotland are probably further ahead than much of England in their ability to be able to support and create these sorts of hubs and places and communities where they can thrive.”
The event is being held hosted at Cardiff’s Tramshed by Cardiff Start an organisation that supports local technology entrepreneurs.
Cardiff Start Co-Founder Robert Lo Bue, said:
“The tech start up scene in and around the Welsh Capital has exploded in recent years. Our community alone has over 2100 members sharing opportunities and experiences every single day.
“Attracting Pitch@Palace to Wales is quite an accolade and an acknowledgement of the rapid growth and success of the sector in Wales.”