Press Release

iBYE Nov press

50% rise in IBYE entries welcomed by Head of Enterprise, Breda Fox.

Local Enterprise Office (LEO) Galway has announced that a record number of participants have entered the ‘IBYE’ competition this year, for a chance to share in a Galway investment fund of €50,000. The 128 Galway entries, up from 65 in 2015, all aged between 18 and 35, are among the 1,842 entries from around the country competing this year.

The next stage in the €2 million national investment fund competition is the business boot camps, which Local Enterprise Office Galway is hosting this month and will play a major role in the IBYE competition. Participants benefit from business advice, mentoring and help with perfecting their enterprise pitches. The LEO-run boot camp has modules such as: business strategy and revenue models, performance measures, financial planning and sources of finance, designed to help more young entrepreneurs develop their business or business ideas.  

When the boot camps come to an end, the next stage in the competition is the county final, which will be held on December 9th in the Portershed. The LEO Galway has an investment fund of up to €50,000 to award to six young entrepreneurs in the area across three categories – Best Business Idea, Best Start-Up Business and Best Established Business.  

Now in its third year, interest in the competition is increasing every year. This year the LEO Galway partnered with the Entrepreneurship Society (Entre Soc) in NUI Galway which really helped drive awareness and access for young aspiring entrepreneurs. 

The significant rise in entries has been welcomed by LEO Head of Enterprise, Breda Fox

“Young entrepreneurs are the employers of the future. I am delighted to see that more young entrepreneurs than ever before have entered the IBYE competition this year. The next stage of bootcamps will help ensure that their innovation, vision and drive, results in successful businesses that will create new jobs and add value to the region. IBYE provides a fantastic opportunity for aspiring and established young entrepreneurs to compete for investment funding, avail of expert business advice and participate in enterprise boot camps where experience and knowledge can be shared”. 

“The LEOs around the country are an excellent resource for anyone thinking of starting or growing their business.  I look forward to meeting these young entrepreneurs during the competition.” 

she added.

Further details on the competition and supports available to young entrepreneurs are available through www.localenterprise.ie/Galway and from the IBYE website at www.ibye.ie

 

Share: