Ireland's Best Young Entrepreneur 2018: Key dates, entry requirements and competition stages
- Mark Day
- Sep 22, 2017
- 3 min read
It’s the Irish government body designed to give information and support to new and growing businesses. But there is more to the Local Enterprise Office (LEO) than just providing grants and training.
Every year, the organisation undertakes a nationwide search for Ireland’s Best Young Entrepreneur. With the 2018 deadline looming – Friday, 29 September 2017 – this blog post takes a closer look at what the competition is about, including entry requirements and, perhaps most importantly, the prize.
RELATED: While you’re here, you may want to read our blog on LEO Grants.
Overview
As the title suggests, the IBYE contest is open to young entrepreneurs with an innovative business or business idea that has commercial potential.
The competition is made up of three different categories.
Best Business Idea (pre-trading)
Best Start-Up Business (<18 months)
Best Established Business (>18 months)
By entering, candidates could potentially have access to the following:
A €2,000,000 Investment Fund and targeted business supports to help their business idea become a reality.
A €50,000 Investment Fund available from the Local Enterprise Office to invest in the three Category Winners and three runners-up.
A €100,000 Investment Fund available for the overall National Category Winners.
Those who reach the final at county level will enter into a specialised Entrepreneur Bootcamp to help develop their ideas. They can also avail of a suite of targeted business supports and mentoring from their Local Enterprise Office.
Eligibility Requirements
Before entering, applicants must meet certain criteria.
Aged between 18 (at date of application) and 35 (at 31st December 2017).
Applicants aged under 18 at closing date for applications are not eligible to apply
The applicant must be the main promoter and owner of the business.
Applicants must own, control and manage their business Intellectual Property where applicable.
Not for profit and social entrepreneurship applicants must operate in a commercial domain.
Applicants for Best New Idea that don’t have a permanent business address must enter the competition in the county which is their home address.
Applicants for all other categories must enter the competition in the county in which their business is located.
Previous First Place winners of IBYE at County or National level are excluded from applying in the same category in any County.
Applicants must be eligible to own, manage and operate a business in Ireland at the time of application.
Applicants from overseas are eligible to apply.
Applicants must submit an online application by the closing date of the 29th September 2017.
One project submission per applicant is allowed.
Competition Stages
The contest consists of a number of stages.
Stage 1:
The 31 individual LEO branch offices select three Category Winners Per County and 1 Overall County Winner.
Stage 2:
93 qualifiers from stage 1 go on to compete at regional level. Of these, 24 will progress to the national final.
Stage 3:
At the national final, three category winners will be chosen, one of whom will become the overall competition winner i.e. Ireland’s Best Young Entrepreneur.
Important dates
Applications open: July – 29 September 2017
Screening: October/November 2017
Entrepreneur Bootcamp Stage: November 2017
Final Pitch and County Finals: December 2017
Regional Finals Stage: January/February 2017
National Final: March 2018
Are you planning to enter the LEO IBYE competition? Do you need assistance with completing the application? Or perhaps you’ve already finished your application and need help writing a business plan? Irish Business Plans can help.
We have over ten years’ experience helping entrepreneurs develop their ideas and prepare professional business plans. We would be delighted to help. Get in touch to find out more.
All information correct as of September 2017.
For further information about Ireland's Best Young Entrepreneur 2018, visit the IBYE website.
Featured Image: IBYE.ie
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