Minister for Business, Enterprise and Innovation, Heather Humphreys together with Minister for Trade, Employment, Business, EU Digital Single Market and Data Protection, Pat Breen today launched the search for Ireland’s Best Young Entrepreneurs (IBYE) 2019.
Now in its 5th year, the competition, which has an investment fund of €2 million, is open to people between the ages of 18 and 35 with an innovative business idea, new start-up or established business. The closing date to enter this year’s competition is Friday 15th March 2019.
IBYE is a nationwide competition, run across three categories: Best Business Idea, Best Start-Up Business and Best Established Business. As part of the IBYE process, up to 450 young entrepreneurs will be invited by the LEOs to attend free regional ‘Entrepreneur Bootcamps’ later in the year to help them develop their businesses and new venture ideas.
With an IBYE investment fund of €50,000 each, every LEO will award up to 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 during the summer with the national IBYE finals taking place on 15th September 2019.
Speaking today, Chair of network of Local Enterprise Offices, Oisín Geoghegan said, "Taking part in IBYE 2019 will help Ireland’s young entrepreneurs move their businesses to the next level with the support of their Local Enterprise Office, whatever stage their business is at - idea, start up or an established business. Other business supports, such as management training, networking and one-to-one mentoring are also at the heart of IBYE - so there is something for all young entrepreneurs, available right on their doorsteps through the network of our 31 LEO offices."