€2m IBYE fund seeks out Ireland’s best young entrepreneurs

27 May 2015

The Government wants to find Ireland’s Best Young Entrepreneur (IBYE) — with any citizen aged between 18 and 30 eligible to seek cash for their business idea from the €2m Government fund.

Launched this morning by An Taoiseach Enda Kenny and the Minister for Jobs, Enterprise and Innovation Richard Bruton, the IBYE fund will be available to young people across the country, with applications being taken up until 31 July at local enterprise offices.

The first stage of the IBYE process will be a county-based competition, leading to the naming of the best young entrepreneur in each county.

This will be followed by eight regional finals, with one young businessperson being crowned the winner of the IBYE fund later in the year at the national finals in Google’s European HQ in Dublin.

Up to €50,000 will be awarded to three winners in each county and the winners at national level can then receive up to an additional €50,000, while more than 400 young entrepreneurs will also win places at regional business bootcamps with mentoring supports to further develop their business skills.

The 2014 edition of the IBYE received more than 1,000 applications, with more than 400 young entrepreneurs taking part in these business bootcamps and 93 young entrepreneurs throughout every county in Ireland winning cash investments for their businesses.

Minister Bruton said of this year’s launch: “Two-thirds of all new jobs are created by start-ups, so if we are to create the jobs we need we must support more entrepreneurs to start new businesses.”

Young entrepreneur image via Shutterstock

Colm Gorey was a senior journalist with Silicon Republic