Ireland's Best Young Entrepreneur Competition gets underway in Waterford, with €50,000 in investment prizes to be won

Three young enterprising people from Waterford can win a "game-changing" investment for their business, through Ireland's Best Young Entrepreneur competition.

That's according to the Local Enterprise Office which is rolling out the IBYE competition this month.

The winners, who must all be aged between 18 and 35, will be awarded an investment prize of between €7,000 and €15,000 each to put straight into their business or to help fund a business idea.

The closing date to enter online through www.ibye.ie is Friday, October 14th and the competition this year has been extended to those aged between 18 (at date of application) and 35 (at 31st December 2016) with an existing business or with an idea for a new one.

The Waterford Local Enterprise Office (LEO) has €50,000 to invest in three local businesses or start-ups. The three categories in the competition are:

  • Best Idea (€7,000 investment prize for the winner and €3,000 investment prize for the runner up). The business idea must have not started trading as of the closing date for entries.
  • Best Start-Up (€15,000 investment prize for the winner and €5,000 investment prize for the runner up). Has started trading but is in business 36 months or less as of closing date for entries.
  • Best Established Business (€15,000 investment prize for the winner and €5,000 investment prize for the runner up). Has been trading for 36 months or more.

Previous winners of Waterford’s Best Young Entrepreneur were:

Best Idea

  • Winner 2015: Liam Sexton – Photo2CAD: A mobile app that allows users to convert images into fully-scaled CAD drawings through their smartphone. Website: www.photo2cad.com
  • Winner 2014: Conor Browne – Grumble (now called Wazere): A social media application designed to connect you with people youy already know anonymously and enable you to speak honestly about things you may not say face to face. Website: www.wazere.com

Best Start UpL

  • Winner 2015: Michael Treyvaud – Treybro: TreyBro is essentially Tinder for gamers, aimed at anyone struggling to find teammates to accompany them on Destiny's toughest raids or those whose pals never seem to have their back on The Division. Website: www.treybro.com
  • Winner 2014: Padraig Ó Scanaill – FundRecs: The company develops cloud based reconciliation software for the funds industry. Website: www.fundrecs.com

Best Established

  • Winner 2015: Eddy Lynch - Suir Sprayers: A company that specialises in the testing, selling and servicing of sprayer parts nationwide, for the horticultural and agricultural sectors. Website: www.suirsprayers.ie
  • Winner 2014: Lyndsey Power – Inn the Doghouse: The South East’s first interactive doggie day care and training centre. Lyndsey is a qualified dog groomer, trainer and Canine Behaviour Consultant. Website: www.innthedoghouse.ie

In addition to investment prizes, additional supports are being offered to those entering, as Richie Walsh from the Waterford Local Enterprise Office explains: "As well as three local winners and runners up, who will share the €50,000 investment fund, up to 500 young entrepreneurs and business owners will also be invited to take part in Business Bootcamps around the country, helping them finely tune their business plans and to learn new enterprise skills. One-to-one mentoring and business coaching will also be available, through all 31 Local Enterprise Offices. This will obviously also apply to Waterford entrants"

October 14th is the deadline to enter the competition through www.ibye.ie and there are no entry fees.

Ireland's Best Young Entrepreneur is supported by the Department of Jobs, Enterprise and Innovation through Enterprise Ireland and the Local Enterprise Offices. Further competition details are available by searching #ibye on social media.

For all queries around Ireland's Best Young Entrepreneur Competition, please contact Paul Curley at the Waterford Local Enterprise Office on 0761 10 2905 or p.curley@leo.waterfordcouncil.ie.

Ireland's Best Young Entrepreneur is a competition that is open to everyone with an innovative business idea:

  • individuals
  • venture teams
  • partnerships
  • existing businesses with a new idea
  • people overseas (including Irish emigrants) who will headquarter in Ireland
 

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