A record 1,842 young entrepreneurs have submitted entries to this year’s Ireland’s Best Young Entrepreneur (IBYE) competition, a 32% increase on last year according to the Local Enterprise Offices (LEOs).
Through the course of the competition, IBYE applicants benefit from business advice, mentoring, boot camps and have the chance to compete for significant investment funding to support the development of their business or idea.
Each individual LEO has an investment fund of up to €50,000 to award to young entrepreneurs in their area across three categories – Best Business Idea, Best Start-Up Business and Best Established Business.
Winners at county level progress to regional finals, ahead of the national IBYE final in March next year.
IBYE is run by the 31 LEOs nationwide and has a total investment fund of €2 million. Young entrepreneurs aged between 18 and 35 were invited to enter by the 14th October closing date and IBYE is supported by Enterprise Ireland and the Department of Jobs, Enterprise and Innovation.
The first of the IBYE 2016 boot camps started in Waterford and Louth at the weekend and the IBYE county finals start in November, followed by eight regional finals.
Three category winners will be selected from each regional final to go forward to March’s national IBYE final, when Ireland’s newest best young entrepreneur will be named.
Minister for Jobs, Enterprise and Innovation, Mary Mitchell O’Connor today commented, "Young entrepreneurs are the employers of the future. I am delighted to see that more young entrepreneurs than ever before have entered the IBYE competition this year. Through IBYE, I want to ensure that their innovation, vision and drive, results in successful businesses that will create new jobs in the economy, and in all regions."
She added, "IBYE provides a fantastic opportunity for aspiring and established young entrepreneurs to compete for investment funding, avail of expert business advice and form invaluable peer networks in enterprise boot camps where experience and knowledge can be shared."
Source: www.businessworld.ie
