Search for our best young entrepreneur

BUDDING entrepreneurs from across Cork have been invited to pitch their ideas in a competition aimed at finding the next generation Irish business captains.

Now in its third year the Ireland’s Best Young Entrepreneur (IBYE) competition, which has a €150,000 prize fund, is spreading its net to find Cork’s best and brightest young business people - with the chance for one of them to be crowned ‘Ireland’s Best Young Entrepreneur.’

This year the competition, which is again being run through the three Cork Local Enterprise Office’s (LEO’s), is open to people between the ages of 18 to 35 who ‘stand out’ from the others.

Anyone with an innovative and original idea or concept that is either a start up or at its early development stage can compete to win a share of a €50,000 cash fund available to each of the Cork LEO’s (Cork City, South Cork and Cork North West).

The winners of the ‘Best Start Up Business’ (up to 36-months) and the ‘Best Established Business’ categories in each LEO will scoop a cool €15,000, with the runners-up pocketing €5,000.

The winner of the ‘Best New Idea’ will win €7,000, with the runner-up receiving €3,000.

Entries will be accepted up until Friday, October 14 and once these have been assessed 15 finalists from each LEO will be chosen to take part in an intensive ‘Business Boot Camp’ over three days in early November.

Specifically designed to sharpen entrepreneurial skills and develop long-term viable business strategies, the boot camp will be overseen by industry experts who will offer the 45 finalists relevant supports and mentoring.

Three of the finalists from each LEO will then be selected to take part in the regional final and if successful will be given the chance to fly the Cork flag at the national final and the chance to win the title of ‘Ireland’s Best Young Entrepreneur’.

For more information about the competition and to apply call 022 43235 or visit www.ibye.ie.

Kevin Curran, the head of enterprise with the Cork North West LEO, said competition organisers were looking for young and aspiring entrepreneurs and business ideas “that really stand out.”

“It offers people a real opportunity to launch and grow their with the investment fund that’s available to winners, not to mention the expert advice and business support that is offered,” said Mr Curran.

“Encouraging entrepreneurship among young people 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,” he added.