Ireland announces young entrepreneur search

The Irish Government has announced a new search to find Ireland’s Best Young Entrepreneur (IBYE) and is inviting applicants to put their name forward before the October deadline.

The scheme was launched by Minister for Jobs, Enterprise and Innovation Mary Mitchell O’Connor and is backed by a €2 million investment fund. The initiative is being run by the Department of Jobs, Enterprise and Innovation and Enterprise Ireland and is being coordinated by 31 Local Enterprise Offices all around the nation.

Over 450 applicants expected

The starting point is a nationwide competition that is based around three categories: Best Idea, Best Start-Up Business and Best Established Business. It will initially be organised on a county basis. A final total of over 450 applicants is expected to be invited to regional ‘Entrepreneur Bootcamps’ later in the autumn, where they will be helped and mentored to develop their new venture and existing business ideas.

Applicants between the ages of 18 and 35 can apply for the scheme, which has an initial finishing date of Friday 14th October 2016.

A “stepping stone” into business

O’Connor said that the IBYE competition, which has been running since 2014, offered an important “stepping stone” into the business world for young people, and had already helped nearly 200 young entrepreneurs to receive investment of around €70,000 to develop their business ideas or to improve existing companies.

The Department of Jobs, Enterprise and Innovation and Enterprise Ireland fulfils an important role in supporting young entrepreneurs through training and direct financial investments.