Nationwide search for Ireland’s Best Young Entrepreneur (IBYE) advances to the County Finals stage

4th November 2016

On 19th November, just over 1,800 young entrepreneurs aged between 18 and 35 will commence the battle to find Ireland’s Best Young Entrepreneur.

The search to find Ireland’s Best Young Entrepreneur is advancing to the next stage, with the announcement of the dates of the County Finals throughout November and December.  

IBYE, which has a €2 million investment fund, is run by the 31 Local Enterprise Offices (LEOs) and is supported by the Department of Jobs, Enterprise and Innovation and Enterprise Ireland.  

A series of Bootcamps involving enthusiastic young entrepreneurs from a variety of business backgrounds are continuing across the country. The Bootcamps facilitate participants’ access to expert networking opportunities, business guidance and mentors to assist in overcoming challenges in developing their businesses. 

The first of the County Finals takes place in Waterford on 19^th November. Each of the 31 LEOs has an investment fund of €50,000 to award to up to six local entrepreneurs across three categories: Best Business Idea, Best Start-Up Business and Best Established Business. 

Minister for Jobs, Enterprise and Innovation, Mary Mitchell O’Connor T.D, said: “As the Bootcamps continue, it is exciting to hear that IBYE is gathering pace and moving on to the next level. IBYE is not just a competition, it is a training ground to guide and mentor young entrepreneurs through all the stages of developing a business.   A 32% rise in the number of entries this year speaks volumes. This is the proof that the entrepreneurial spirit is alive and well amongst our young people.  This is what the country needs more of in order to create and sustain more jobs throughout Ireland”. 

Sheelagh Daly with Local Enterprise Offices said that the standard of entries is very high this year. She said: “The exceptionally high standard of entries will make the competition tough and challenging, but it will also help bring out the full potential of entrants and inspire them to succeed whether they win at the county final stage or not. We see the IBYE initiative as a springboard for young entrepreneurs, who want to start or expand a business. They will have the support of their Local Enterprise Offices around the country, all year around.”

IBYE is now in its third year and this year’s entrants are hoping to follow in the footsteps of the 2015 winners: 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 Keogh of Rathwood in Wicklow, (Best Established Business). The inaugural winner of the competition in 2014 was Eamon Keane of Xpreso Software in South Dublin. 

Further details on the competition and supports available to young entrepreneurs are available through www.localenterprise.ie and from the IBYE website at www.ibye.ie. 

ENDS 

For media queries, please contact Sarah Bohan or John Compton at Engage Ireland.Tel:  01 427 8388 / Email: office @engageireland.com 

Notes to Editor:

About IBYE:      www.ibye.ie

• Ireland’s Best Young Entrepreneur is an enterprise initiative run by the 31 Local Enterprise Offices around the country and funded by the Department of Jobs, Enterprise and Innovation and Enterprise Ireland. A €2 million investment fund is available through IBYE which supports young entrepreneurs through training, mentoring and direct financial investments.
• IBYE was open to people between the ages of 18 (at date of application) and 35 (at 31st December 2016) with aninnovative business idea, new start-up or established business, including:individuals, venture teams, partnerships, existing businesses with a new idea, or people overseas (including Irish emigrants) who will headquarter in Ireland.
• Each LEO will have a total fund of up to €50,000 to invest in six businesses (three category winners and three runners-up) according to criteria including businesses’ investment needs. The three categories are as follows:

- Best Business Idea(pre-trading) – up to €10,000 investment fund through every LEO (€7,000 for category winner and €3,000 for runner-up, through every LEO)

- Best Start-Up Business(up to 36 months), with up to €20,000 investment fund through every LEO (€15,000 for category winner and €5,000 for runner-up, through every LEO)

- Best Established Business(over 36 months) with up to €20,000 investment fund through every LEO (€15,000 for category winner and €5,000 for runner-up, through every LEO)

• The county winners will proceed to eight regional finals in January and February 2017 from which 24 contenders (three from each region – one in each category) will be selected to compete for the national title of Ireland’s Best Young Entrepreneur. A further €100,000 investment fund will be available to invest in the winners of the three categories at the national final, one of which will      also be named with the prestigious title of Ireland’s Best Young      Entrepreneur.  

Details for IBYE County Finals (November and December 2016)

Ireland's Best Young Entrepreneur (IBYE.ie)

Please note that some details are TBC 

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