Support for young Irish businesses

Competition to find best young entrepreneur.

A competition aimed at finding and supporting Irish businesses has extended its application deadline.

Ireland’s Best Young Entrepreneur competition (IBYE) is still offering a total investment fund of €50,000 through every Local Enterprise Office.

Entrepreneurs aged between 18 and 30 are being urged to apply online for the opportunity to help start or expand their business.

Applicants can enter for free online until Friday 21^st August 2015.

The winners of the regional Best Established Business and Best Start-Up categories will each receive €20,000 to put into their businesses. €10,000 is available for the region’s Best New Idea winner.

Winners at national level could then be awarded up to an additional €50,000.

The initiative was organised by Action Plan for Jobs, a whole-of-government scheme from the Department of Jobs, Enterprise and Innovation (DJEI) aimed at increasing employment rates in Ireland.

The competition was designed to increase the appeal of entrepreneurship as a career choice for young people. This in turn will create jobs across the country.

The Minister for Jobs, Enterprise and Innovation, Richard Bruton TD, said: “Over 1,000 people entered IBYE last year, with more than 400 young entrepreneurs benefiting from business bootcamps, mentoring or investment prizes. Focusing on job creation, the competition is open to everyone with their own business or innovative ideas for a new one. An investment fund of €50,000 is now available in every one of the 31 Local Enterprise Offices, to help young entrepreneurs set up and grow their businesses, accelerating job creation in every region of the country.”

The initiative has already advanced the prospects of many Irish businesses.

Amongst last year’s Best Established Business winners and finalists was Dean Gammell of ‘The Group System’ in Co. Westmeath. Gammell now employs 32 people in Kinnegad and used his investment prize fund to expand his group booking software business into the UK.

In the same category, Shane Byrne from the mobile app development company, Showoff, in County Wicklow, recently signed an international contract. His workforce has doubled since entering the competition in 2014.

IBYE recognises entrants from a wide range of fields. Darren Hayes from the renewable energy sector was one of last year’s national finalists.

Sheelagh Daly of the Local Enterprise Offices said: “One of the three categories this year is called Best Established Business and that’s open to anyone aged 30 or under, who set up their own business more than two years ago. Through IBYE, they can grow and develop their businesses further, gaining investment, skills and connections that can open up new markets and opportunities. To start accessing the supports now on offer, we’re encouraging young entrepreneurs to get in touch with their nearest Local Enterprise Office and to visit www.ibye.ie.”

The national finals are to be held before the end of this year.

The post Support for young Irish businesses appeared first on UK Construction Online.