€2 million investment fund available for Ireland’s Best Young Entrepreneurs
Previous winners highlight the benefits of IBYE to An Tánaiste Frances Fitzgerald and Minister Pat Breen and urge young entrepreneurs to get involved through the Local Enterprise Offices.
Tánaiste and Minister for Enterprise and Innovation, Frances Fitzgerald T.D. and Minister of State for Business, Pat Breen T.D., have launched the search to find Ireland’s Best Young Entrepreneurs of 2018 (IBYE).
IBYE is a programme run by the 31 Local Enterprise Offices (LEOs) with the support of the Department of Enterprise and Innovation and Enterprise Ireland. The competition is open to people between the ages of 18 and 35 with an innovative business idea, new start-up or established business. Now in its 4th year, IBYE has an investment fund of up to €2million. The closing date to enter this year’s competition is Friday, 29th September, 2017.
IBYE is a nationwide competition, run across three categories: Best Business Idea, Best Start-Up Business and Best Established Business. 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 business 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 early next year and the national IBYE finals will be held in March 2018.
Former IBYE national winners and finalists helped to launch the competition in St. Stephen’s Green in Dublin: Ciara Clancy of Beats Medical in Dún Laoghaire-Rathdown (IBYE Overall Winner 2017 and winner of Best Established Business), Alvan Hunt of Hexafly in Meath (Best Business Idea National Winner in 2017), Samuel Dennigan of Strong Roots in Dublin City (Best Start-Up Business National Winner, 2017), Rhona Togher of Restored Hearing in Sligo (Best Established Business National Finalist, 2014) and Niamh O’ Neill of Niamh O’ Neill in Louth (Best Established Business National Finalist, 2014).
To enter, young entrepreneurs between the ages of 18 and 35 should visit the IBYE website at www.ibye.ie, to submit their applications online. The closing date for entries is Friday, 29th September, 2017 and there are no entry fees.
Further information and details are also available from the 31 Local Enterprise Offices nationwide through www.localenterprise.ie
IBYE: Facts & Figures
– A €2 million investment fund with targeted business development supports.
– 3 categories: Best Business Idea, Best Business Start-Up and Best Established Business.
– Co-ordinated by all 31 Local Enterprise Offices across the entire Local Authority Network. Supported by the Department of Jobs, Enterprise and Innovation and Enterprise Ireland.
– A record number of entries last year with 1,842 competitors, coming from every county in Ireland.
– 450+ places at Entrepreneur Bootcamps.
– Up to 186 local winners and runners-up, sharing investments of between €3,000 and €15,000 each.
– 8 Regional Finals.
– Investment fund of €100,000 for national winners and runners-up.