Search for Ireland’s Best Young Entrepreneur Begins
16th August 2016
Minister for Jobs, Enterprise and Innovation, Mary Mitchell O’ Connor has launched the latest search to find Ireland’s Best Young Entrepreneur (IBYE).
With a €2 million investment fund available, the enterprise initiative from the Department of Jobs, Enterprise and Innovation and Enterprise Ireland run by the 31 Local Enterprise Offices around the country, supports young entrepreneurs through training, mentoring and direct financial investments.
Young entrepreneurs between the ages of 18 and 35 are now being encouraged to apply, before the closing date of Friday, October 14th 2016.
The initiative is co-ordinated by all 31 Local Enterprise Offices and begins with a nationwide competition across three categories at county level: Best Idea, Best Start-Up Business and Best Established Business. A total of around 450 applicants, across every Local Authority area, will be invited to regional ‘Entrepreneur Bootcamps’ in November, to help them develop their business and new venture ideas.
With an available IBYE investment fund of €50,000 each, every Local Enterprise Office will award six investments to three category winners and three runners-up at county level. The local winners in the Best Start-Up and Best Established Business categories at county level will receive investments of up to €15,000 each and the two runners-up will each receive up to €5,000. The Best Business Idea winner at county level will receive an investment of up to €7,000 and the runner-up will receive up to €3,000 of investment. These winners at county level will progress to Regional Finals early next year and the national IBYE finals will be held in March 2017.
Sheelagh Daly of the Local Enterprise Offices explains: “The substantial investments available under IBYE are a very important part of the programme and will help more young entrepreneurs to grow their businesses and create more jobs. Other business supports, such as management training, networking and one-to-one mentoring are also at the heart of IBYE. Last year, 450 young entrepreneurs benefitted from these business supports, so the rewards are there for participants, as well as for the winners. Taking part in IBYE will help Ireland’s young entrepreneurs to move their businesses to the next level, whatever stage their business is at.”
(Pictured: The 2015 IBYE National Finalists pictured with Sheelagh Daly of the Local Enterprise Offices.)