Lord Sugar has been named as the new non-executive chairman of the catch up television service YouView.

YouView is a collaborative venture involving the BBC, Channel 4, TalkTalk and BT. Plans for the video on demand service were announced in December 2008. YouView is set to launch for customers next year.

The Apprentice boss, who started his business career as a market trader and has built up an estimated £730 million fortune, will replace Kip Meek in the role.

TalkTalk chairman Charles Dunstone said: “Lord Sugar’s experience in delivering set-top box technology to the consumer is unrivalled and we are delighted that he will be with us as we introduce a new, enhanced television experience to homes across the UK.

“As we move from the development to the delivery stage I can’t think of anyone better placed to help bring YouView to market than Lord Sugar.”

The Labour peer, known for his Amstrad computer company, is no stranger to digital technology. He has more than 372,000 followers on Twitter.