Friday, 6 June 2014
Clare's Best Young Entrepreneur
- Investment of up to €25,000 available for the winner
The recently launched Local Enterprise Office (LEO) Clare has announced details of a new competition to find Clare's Best Young Entrepreneur.
€50,000 will be invested in the business models of Clare's three winning entrepreneurs who will also proceed to regional and national finals with the aim of finding Ireland's Best Young Entrepreneur. The overall winner of Clare's Best Young Entrepreneur will received an investment of up to €25,000.
The competition is being co-ordinated nationally by the Dept of Jobs, Enterprise and Innovation, and will see a total fund of €2 million being made available to invest in winning businesses in every county in Ireland.
Mentoring, marketing and other supports will also be available to participating businesses at various stages of the competition, which is open to individuals aged 30 and under. The competition will be judged under three categories, namely best new idea, best start up and best established business.
Launching the national competition, Minister of Jobs, Enterprise and Innovation, Richard Bruton RD said: "Central to our plans for jobs and growth is supporting more businesses to start up. Two thirds of all new jobs are created by start ups, so if we are to create the jobs we need we must support more entrepreneurs to start new businesses. ~That is why we put in place the entrepreneurship forum chaired by Sean O'Sullivan and that is why we established the Local Enterprise Offices to provide more and better Government supports to businesses in one easily accessible place at local level.
Tom Coughlan, Chief Executive, Clare Co Council noted that the Clare stage of Ireland's Best Young Entrepreneur will help to showcase the important role that the LEO has to play in developing local enterprise plans and putting micro and small business at the heart of job creation locally.
Combining the resources of the Clare Co Enterprise Board and Clare Co Council, LEO Clare was launched to deliver services and supports to the micro and small business sectors on behalf of Enterprise Ireland.
Mr Coughlan explained: "The aim of the initiative is to encourage and support a culture of entrepreneurship among young people, to promote entrepreneurship as a career choice, and to encourage the establishment and development of new innovative businesses by 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".
The Clare stage of the competition is open to everyone with an innovative business idea, including individuals, venture teams, partnerships, existing businesses with a new idea, and people overseas that are looking to locate to Clare. Winners will be named in three categories as well as an overall winner who will be Clare's Best Young Entrepreneur. LEO Clare will have a total fund of €50,000 to invest in the three winning businesses, according to criteria the prospects and investment needs of each business.
Clare's 3 winning entrepreneurs, including the overall winner of Clare's Best Young Entrepreneur, will proceed to regional finals with winners identified in each category in Dublin, Mid-East, Midlands, South East, South /West, Mid West, West and Border regions. These 24 businesses will then proceed to national finals to be held before the end of the year with winners once again being identified for each category as well as an overall winner who will be crowned Ireland's Best Young Entrepreneur. There will be a total fund of €100,000 available for investment in the three businesses at the national finals, with the overall winner eligible for an investment of up to €50,000.
To find out more or to apply, go to www.localenterprise.ie/clare or visit LEO Clare office, Aras Contae an Chlair, New Road, Ennis, Co. Clare. The deadline for receipt of applications has been extended to 31st July 2014..
