Applying for Tier2 while Tier1 entrepreneur in process

[Pakban]

Hi,
My query is: Is it possible to apply for Tier2 (Employer Sponsored) while Tier1 Entrepreneur application is still in progress at the HO?

Time Line for tier 1 entrepreneur as follows:
Applied: 04/04/2013
Fee deducted: 12/04/2013
1 partner interviewed: 28/07/2013
STill waiting for the outcome.
PSW 50k route (Team of 2).

I found a Sponsor recently and don't want to loose out as majority of guys who have applied for tier 1 entrepreneur got refusal already and prospects of such are not too hopeful. Therefore willing to get on Tier2 so I can complete my 10 years by October 2015.

Thanks for your expert advice.

Just forgot to add: I intend to withdraw my Tier1 entrepreneur application before I submit my Tier2.