Will Chase, 46, founder and managing director of Tyrrells, said the firm planned to use the money won in the Entrepreneurs Challenge to make vodka from potatoes grown on the farm but which are too small to turn into crisps.
The company has already begun building a £1m distillery on the farm and hopes to produce the first batch of vodka by Christmas, with a formal launch next summer.
Chase said he plans to create the vodka using traditional artisan methods combined with the latest technology, to produce a high-quality product that has clear provenance so customers know exactly where the ingredients have come from.
“We have bought this beautiful copper still from Germany. It is how vodka and spirits used to be made many years ago. It is quite a laborious process but the result will be more of an artisan product, a bit like our potato chips,” he said.