What have entrepreneurs: Richard Branson, Mark Zuckerberg and Denis Brosnan all got in common? Answer, they were all under 30 when they started their respective businesses. Branson was 22 when he started Virgin, Zuckerberg was 27 when he created Facebook and Denis Brosnan started the Kerry Group at 28.
Are you 30 or under with an outstanding idea/commercial venture for a start-up or existing business? The search to find Ireland’s best young entrepreneur has begun.
Ireland’s Best Young Entrepreneur Competition (#IBYE)
The IBYE Competition will be run by the Local Enterprise Offices and has a total fund of €2 million available to invest in winning businesses and young entrepreneurs in every county. Winners at LEO level will be eligible for an investment of up to €20,000. Winners at national level can receive an additional investment of up to €50,000. Individuals, Venture Teams, Partnerships, and Existing Businesses with a new idea and People Overseas who will HQ in Ireland all can enter.
The Competition is broken down into three categories:
- Best new idea (not yet established).
- Best start-up business (up to 18 months).
- Best established business with a new add-on (over 18 months).
There will be 3 category winners per county and 1 overall county winner -> 93 winners will be shortlisted to 24 winners at regional level -> These 24 winners will progress to the National Final in the first week of December 2014 where Ireland’s Best Young Entrepreneur for 2014 will be announced.
Application Process and important dates:
- Application Phase – Submit application (and optional video) to your Local Enterprise Office, or online on or before 30th June 2014.
- Screening Process – Applicants screened on assessment criteria (See relevant section on website). Participants selected for County Entrepreneur Bootcamp. July 2014.
- Entrepreneur Bootcamp – County Finalists will enter into a specialised Entrepreneur Bootcamp to help develop the skills required to take an entrepreneurial idea from concept stage to reality and to build a viable business plan to commercialise the opportunity. Mid August 2014.
- Final Pitch and County Finals – Participants from the Entrepreneur Bootcamp will submit their final business plan and make a pitch to the County Assessment Panel. This Panel will consist of a minimum of three judges to be selected by the Local Enterprise’s Office. Three Category Winners and from these Winners one overall County Winner will be selected. All three Winners will progress to the Regional Final. End of September 2014.
- Regional Finals – In total 93 County Winners will progress to the Regional Finals. Each Regional Finalist will receive additional mentoring and business support prior to making a pitch to the Regional Assessment Panel. In total 24 Category Winners will be selected to progress to the National Final. End of October 2014.
- National Final – The 24 Finalists will compete for the three National Category Awards for Best Idea, Best Start-Up and Best Existing Business with add on. In addition Ireland’s Best Young Entrepreneur for 2014 will be announced. First week of December 2014.
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