€2 million investment fund to support young entrepreneurs, aged between 18 and 35
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.
Speaking about Ireland’s Best Young Entrepreneur (IBYE) Minister for Employment and Small Business, Pat Breen T.D., said: “Ireland’s Best Young Entrepreneur (IBYE) initiative offers a very significant stepping stone into the world of running your own business for young people aged 18 to 35. It’s not just the scale of the investment fund on offer that makes IBYE so important, IBYE entrants can go on to receive intensive enterprise boot camp training from their LEO under the programme, to help them establish and develop their entrepreneurship careers. The level and depth of the business mentoring, training and advice available during the LEO bootcamps has proven to be extremely effective in helping young ambitious business people to cope with all aspects of running a business, especially the preparation of focused business plans. Such plans are an essential tool for making a success of any business. IBYE has proven to be a great success in all the regions and I would encourage young people with a business idea or currently running a business to apply for Ireland’s Best Young Entrepreneur”.
Local Enterprise Office Clare will award six investment prizes worth a total of €50,000 to three category winners and three runners-up, before the Regional Finals early next year. The local winners in the Best Start-Up and Best Established Business categories will receive €15,000 each and the two runners-up will each receive €5,000. The Best Business Idea winner locally will receive an investment
IBYE is now in its third year and last year’s winners were James Foody of Ayda in South Cork (Ireland’s Best Young Entrepreneur for 2015 and Best Start-Up Business), Blaine Doyle of GlowDX in Kilkenny (Best Business Idea) and James Wood of Rathwood in Wicklow (Best Established Business). The inaugural winner of the competition in 2014 was Eamon Keane of Xpreso Software in South Dublin.
To enter, young entrepreneurs between the ages of 18 and 35 inclusive are being asked to visit the IBYE website at www.ibye.ie, to submit their entry online. The closing date for entries is Friday, October 14th 2016 and there is no entry fee. Further information and details are also available from the 31 Local Enterprise Offices nationwide.