New competition to find Tipperary’s Best Young Entrepreneur

The Taoiseach and the Minister for Jobs, Enterprise and Innovation launched a new competition to find Ireland’s Best Young Entrepreneur on Thursday last, with a total fund of €2million available to invest in winning businesses and entrepreneurs in every county in the country. The IBYE competition is a national competition to find Ireland’s best young entrepreneur.

In Tipperary, the competition to find  the county’s Best Young Entrepreneur will be run by the new Local Enterprise Office.  Winners will be named in three categories – best new idea, best start-up, best new venture for established business – as well as an overall winner who will be awarded the title of “Tipperary’s Best Young Entrepreneur”.

The Local Enterprise Office has been provided with a fund of €50,000 to invest in the three winning businesses, according to competition criteria, business prospects and investment needs of the winning businesses. The overall winner of Tipperary ’s Best Young Entrepreneur may receive an investment of up to €25,000.  Mentoring, marketing and other supports will also be available to participating businesses at various stages throughout the competition.

Pictured at the launch of the IBYE competition in City Hall, Dublin on Thursday 15 May left to right Rita Guinan, Head of Local Enterprise, Tipperary, An Taoiseach, Enda Kenny and Ministers Richard Bruton & John Perry TD.

The competition is open to individuals aged 30 and under and will be judged under three distinct categories:

• best new idea

• best start-up business

• best established business with new add-on

The first stage will be a county-based competition (run by the 31 LEOs) leading to the naming of the Best Young Entrepreneur in each county. This stage will include boot camps and mentoring programmes. This will be followed by regional finals and ultimately national finals with one business-person being crowned Ireland’s Best Young Entrepreneur before the end of the year.

There have been expressions of interest from television production companies on the possibility of covering the later stages of the competition in a reality TV format.

The aim of the initiative is to encourage and support a culture of entrepreneurship among young people in Ireland, to promote entrepreneurship as a career choice, and to encourage the establishment and development of new innovative businesses by Ireland’s young entrepreneurs. This is hugely important for job-creation as two thirds of all new jobs are generated by businesses in the first five years of existence – more start-ups and a thriving entrepreneurial culture will lead to more jobs being created.

This project is an integral part of the Action Plan for Jobs 2014 and is supported by the Department of Jobs, Enterprise and Innovation through the Local Enterprise Offices. Entering the competition couldn’t be simpler  – go to www.localenterprise.ie/tipperary or www.ibye.ie  or contact the Local Enterprise Office located in either Ballingarrane House,

Ballingarrane Science & Technology Park, Cahir Road, Clonmel  052-6129466 or  Civic Offices, Limerick Road, Nenagh 067-44500 for more information.   The deadline for receipt of entries is 30th June 2014.