THE world's largest independent music company has thrown its considerable weight behind a 'go compare' site for event tickets co-founded by a Scots entrepreneur.

Ministry of Sound, the music and nightclub business, has taken a "significant" stake in TickX, the ticket price comparison site set up by 22-year-old Dunoon IT impressario Sam Coley and his business partner Steve Pearce.

The beta version of the site, was launched in December 2014 and compares prices for fifteen ticketing outlets and for over 36,000 events.

A TickX spokeswoman said: "What is most exciting is the seal of approval from the music moguls who will be fully hands on investors, giving access to their audience of millions of young people and key industry contacts, use of their impressive offices as well as a support network of mentors at the forefront of technology development for the music industry."

It's a major boost for Mr Coley, who is described as a "serial entrepreneur since primary school", earning £15,000 a year while doing his Highers through SAMTEQ, the software development company he set up when he was 16. He employed his own father full-time and would phone to check on events during break times at school.

He has has been obsessed with business from a young age – and started out selling USB torches at primary school. In secondary school he started a business selling chewing gum as he realised that although chewing it was banned, there were no rules against selling it.

TickX was developed after the entrepreneurs after becoming frustrated with trawling the internet to find events and get the best deals.

Available on iOS, Android and as a website, TickX allows users to search events by location, band or artist, ensuring customers are able to see their favourite acts at the best possible price with no added fees, and with the assurance that only reputable sellers are displayed.

Currently the site’s focus is on UK events only, however there are plans with Ministry of Sound’s support to expand into a range of European markets in the coming year.

Lohan Presencer, chief executive of Ministry of Sound, said: “We were incredibly impressed with the technology and customer experience that Steve and Sam have developed and the early adoption rates they’ve achieved.

“TickX is an exciting young brand and business which embodies our approach to challenging the norm and going up against big rivals. We are delighted to offer not only financial backing, but also access to our international marketing network and expertise.”

Sam Coley,said: “With our user-friendly platform, established relationships with the UK’s leading ticket sellers and now the backing of Ministry of Sound, one of the biggest household names in the music business, we firmly believe we have the best possible partners to make this business a huge success.

"We want to revolutionise the way people find events and buy tickets to make it as easy as possible for you to have a good time. The UK events market alone is worth over £2bn, so from a business perspective the opportunities for TickX are huge.”

Including the MoS investment, TickX has secured a total investment of £175,000 to date, including funding from Highlands and Islands Enterprise.