Press Release :
Local Enterprise Office Roscommon confirms €50,000 county investment fund available
Tánaiste and Minister for Enterprise and Innovation, Frances Fitzgerald T.D. and Minister of State for Business, Pat Breen T.D., have launched the national search to find Ireland’s Best Young Entrepreneurs (IBYE 2018) through the Local Enterprise Offices.
IBYE is a programme run by the 31 Local Enterprise Offices (LEOs), including LEO Roscommon, with the support of the Department of Enterprise & Innovation and Enterprise Ireland. The competition is open to people between the ages of 18 and 35 with an innovative business idea, new start-up or established business. Now in its 4th year, IBYE has an investment fund of up to €2 million. The closing date to enter this year’s competition is Friday, 29th September 2017, and there is a €50,000 county investment fund on offer to local winners and runners-up in Co Roscommon.
Speaking at the national launch, the Tánaiste said: “Building on the success of previous IBYE competitions, this Government wants to support more young entrepreneurs right across the country through the LEOs. Ireland has a well-earned reputation as a country that supports and fosters enterprise. Our young entrepreneurs are talented, innovative and dynamic. Last year, 180 young entrepreneurs won investment funding for their businesses through IBYE, helping them reach their export and job growth potential. I would encourage all young entrepreneurs, between the ages of 18 and 35, to talk to their LEO about the IBYE 2018 programme and the valuable supports available throughout the various stages of the competition.”
Minister of State for Business, Pat Breen T.D., said: “IBYE offers a very significant stepping stone into the world of running your own business for young people aged 18 to 35. It’s not just the scale of the investment fund on offer that makes IBYE so important, IBYE 2018 entrants can go on to receive intensive enterprise boot camp training from their LEO under the programme, to help them establish and develop their entrepreneurship careers. Now in its 4th year, IBYE has proven to be a great success in all the regions with more than 1,800 applying across the country last year. I would encourage young people with a business idea or currently running a business to apply for IBYE before the deadline of 29thSeptember, 2017.”
Louise Ward, Head of Enterprise at Roscommon LEO, said: “The substantial investments available under IBYE are a very important part of the programme and will help more young entrepreneurs here locally to grow their businesses and create more jobs. Other business supports, such as management training, networking and one-to-one mentoring are also at the heart of IBYE. Last year, 450 young entrepreneurs all over the country benefitted from these business supports and 180 of them won investment funding to help start and grow their own businesses, so the rewards are there for participants, as well as for the winners. Taking part in IBYE will help Ireland’s young entrepreneurs move their businesses to the next level with the support of their Local Enterprise Office, whatever stage their business is at.”
IBYE 2018 is run locally by Local Enterprise Office Roscommon across three categories: Best Business Idea, Best Start-Up Business and Best Established Business.
With an IBYE investment fund of €50,000, LEO Roscommon will award up to six investments to three category winners and three runners-up at county level. The local winners in the Best Start-Up and Best Established Business categories at county level will receive investments of up to €15,000 each and the two runners-up will each receive up to €5,000.
The Best Business Idea winner at county level will receive an investment of up to €7,000 and the runner-up will receive up to €3,000 of investment. These winners at county level will progress to Regional Finals early next year and the National IBYE Finals will be held in March 2018.
Previous Co Roscommon winners and runners-up of IBYE have included :
Mark Bannon, Vizor Technology Ltd., Bealnamullia, Athlone (Best Business Idea and Overall County Winner)
Niamh Cunningham, Irrelevant Fish, Lisacul, Ballaghaderreen (Best Start-Up)
Mark Molloy, Honest Bread & Cakes Ltd., Roscommon town (Best Established Business)
Oz Ibrahmi, Hex CNC, Knockvicar, Boyle (Best Established Business and Overall County Winner)
Mark Bannon, Vizor Technology Ltd., Bealnamulla, Athlone (Best Start-Up)
Enda Mahon, Progrip, Cloonee, Ballymoe (Best Business Idea)
Desmond Dolan, MistCalls, Cortober (Best Business Idea and Overall County Winner)
Kyle Flynn, Heather Fed Fowl, Ballyfarnon, Boyle (Runner-Up : Business Idea Category)
Kyle McLoughlin, Boyle Posude T/A SubTeacher.ie, Boyle (Best Business Start-Up)
Neil Patrick Collins, Cryptic Clique, Castlerea (Runner-Up: Start-Up Category)
Eoghan Kenny, Project 5 Creations T/A BeltLock.ie Rathpeak, Ballinasloe (Best Established Business)
Brian Larkin, Centrepoint Autos, Hodson Bay, Athlone (Runner-Up : Established Business Category)
IBYE 2018 – Categories :
- Best Business Idea (pre-trading) – up to €10,000 investment fund through every LEO (€7,000 for category winner and €3,000 for runner-up, through every LEO)
- Best Start-Up Business (up to 18 months) – with up to €20,000 investment fund through every LEO (€15,000 for category winner and €5,000 for runner-up, through every LEO)
- Best Established Business (over 18 months) – with up to €20,000 investment fund through every LEO (€15,000 for category winner and €5,000 for runner-up, through every LEO)
IBYE 2018 – How to Enter :
Local entrepreneurs between the ages of 18 and 35 should visit the IBYE website at www.ibye.ie, to submit their applications online.
The closing date for entries is Friday, 29th September, 2017 and there are no entry fees.
Further information for Roscommon entrants is available from https://www.localenterprise.ie/Roscommon or by calling me on 086-8318748.