“The IBYE Competition is designed to foster a culture of entrepreneurship in Ireland and to encourage the establishment of new innovative businesses by Ireland’s best young entrepreneurs”.
The competition will be run by the Local Enterprise Offices and has a total fund of €2 million available to invest in winning businesses and entrepreneurs in every county. Winners at LEO level will be eligible for an investment of up to €20,000. Winners at national level can receive an additional investment of up to €50,000. Almost any young person with a business idea can enter: Individuals, Venture Teams, Partnerships, and Existing Businesses with a new idea and People Overseas who will HQ in Ireland.
The Competition is broken down into three categories:
1. Best new idea (not yet established).
2. Best start up business (up to 18 months).
3. Best established business with a new add-on (over 18 months).
There will be 3 category winners per county and 1 overall county winner -> 93 winners will be short listed to 24 winners at regional level -> These 24 winners will progress to the National Final.