Mayo entrepreneur reaches National Final of IBYE Competition

IBYE winner group1Local Enterprise Office Mayo has confirmed that Nigel O’Reilly from Nigel O’Reilly Goldsmith has clinched a place in the national final of Ireland’s Best Young Entrepreneur (IBYE) competition in Dublin this March.

The 35-year-old is competing in the Best Established Business category and is one of three young entrepreneurs who will represent Roscommon and Mayo. The local entrepreneur now has the opportunity, along with 23 other national finalists, to become Ireland’s Best Young Entrepreneur and share in a €100,000 winners’ investment fund.

The winners across three categories who will go forward to the National Final were announced at the Regional Final at the Abbey Hotel in Roscommon this evening (27th January) by Mr. Denis Naughten T.D., Minister for Communications, Climate Action and Environment. The two other National Finalists who were selected by the judging panel are: Desmond Dolan of Mistcalls from Co. Roscommon in the Best Business Idea category and Kyle McLoughlin of Posude Ltd T/A Subteacher.ie from Co. Roscommon in the Best Start Up Business category.

Speaking at the event in Co. Roscommon, Minister Naughten said: “It is heartening to see the entrepreneurial talent that exists amongst young business people in this region. I have been so impressed by the determination, energy and drive shown by all the IBYE contestants.  IBYE is a valuable training ground which guides young entrepreneurs through all the stages of developing and sustaining a business, and it is helping to build a culture of entrepreneurship among young people who need encouragement and support to help them achieve their dreams, and in turn to create and sustain jobs. I would like to congratulate all the winners and hope your participation in IBYE has set you on a path to continued success.”

IBYE Winners Group2John Magee, the Head of Enterprise (Acting) with Local Enterprise Office Mayo, congratulated the local entrepreneur, saying: “We started the search to find and support Ireland’s best young entrepreneurs in September last year, and after a very successful bootcamp, County Final and now Regional Final, the county will be proudly represented in the ultimate stage of the competition – the IBYE National Final in March.”
Cathaoirleach of Mayo County Council Al McDonnell, Cllr Michael Kilcoyne, Chairperson of the Economic Development & Enterprise Support Strategic Policy Committee, Chief Executive Peter Hynes and Director of Services for Planning, Economic & Community Development, Joanne Grehan were also in attendance to support and congratulate all Mayo finalists for their achievement to date at reaching the Regional Final of Ireland’s Best Young Entrepreneur.

Judging takes place in early March and each finalist will have the opportunity to pitch their business plan to the judging panel. They will be assessed on criteria such as the level of innovation in their business, the potential for future job creation and their leadership skills.
The Mayo finalist designs and makes fine jewellery; pieces that grace the catwalks at Paris Fashion Week, or sell through luxury fashion houses on Bond St. in London. As Nigel himself states “We have the potential and drive to go very far. Having a thriving artistic business like ours in any community has a ripple effect on other people’s mindsets, allowing them to follow suit. With drive and ambition, we show people that it is possible to make a living doing something you love.”

IBYE Winners Group3Aimed at 18 to 35-year-olds, the IBYE initiative is run by the 31 Local Enterprise Offices (LEOs) nationwide, and supported by the Department of Jobs, Enterprise and Innovation and Enterprise Ireland. The investment awards will be used by the young entrepreneurs to help fund business start-ups, create new jobs locally and help develop new products for international markets.
Competition details and results are available from www.ibye.ie and information around the supports available to young entrepreneurs through the Local Enterprise Offices is available from www.localenterprise.ie


About IBYE

  • Ireland’s Best Young Entrepreneur (IBYE) is an enterprise initiative run by the 31 Local Enterprise Offices around the country and funded by the Department of Jobs, Enterprise and Innovation and Enterprise Ireland. A €2 million investment fund is available through IBYE which supports young entrepreneurs through training, mentoring and direct financial investments.
  • During the application phase (closing date of October 14th 2016), the competition was open to those aged between 18 and 35 with an innovative business idea, new start-up or established business, including: individuals, venture teams, partnerships, existing businesses with a new idea, or people overseas (including Irish emigrants) who will headquarter in Ireland.
  • A record 1,842 young entrepreneurs submitted entries to the current competition, a 32% increase on the previous year.
  • The three categories and county prize funds were as follows:
    • Best Business Idea (pre-trading) – up to €10,000 investment fund through every LEO (€7,000 for category winner and €3,000 for runner-up, through every LEO)
    • Best Start-Up Business (up to 36 months), with up to €20,000 investment fund through every LEO (€15,000 for category winner and €5,000 for runner-up, through every LEO)
    • Best Established Business (over 36 months) with up to €20,000 investment fund through every LEO (€15,000 for category winner and €5,000 for runner-up, through every LEO)
  • At the County Final stage before Christmas, winners and runners-up were awarded investment funds and category winners were then invited represent their area at one of eight Regional Finals in January and February 2017.
  • Three national finalists, one for every category, are currently being selected to represent that Region at the National Final in March 2017.
  • A total of 24 national finalists will compete to become “Ireland’s Best Young Entrepreneur”, with a €100,000 investment fund to be shared between prize winners on March 5th.

 

Share: