24 novel business ideas vie for young entreprenuer award
Bruton unveils shortlist for inaugural Best Young Entrepreneur competition
Minister for Jobs, Enterprise and Innovation, Richard Bruton: two thirds of all new jobs come from start-ups in their first five years of existence
Portable wind turbines, hydration bottles for runners and sprouting crops are among the shortlisted businesses for the inaugural Best Young Entrepreneur competition.
Minister for Jobs, Enterprise and Innovation Richard Bruton today unveiled the 24 finalists, chosen from over 1,000 entries, which have made it through to next month’s national final at Google’s European headquarters in Dublin.
The competition, which is being run by Local Enterprise Offices, has a €2 million prize fund, with county and national winners each able to win up to €70,000 to further their businesses.
Winners will also be offered a place on the Google “Adopt a Startup” programme.
The final eight in the ‘Best Established Business with Add On’ category, features medical devices for monitoring breathing rates, youth communications and on-line fitness services.
Among the eight ideas shortlisted in the ‘Best New Idea’ category are portable wind turbine machines, hydration bottles for runners and sprouting barley for animal feed.
In the ‘Best Start Up Business’ category, the shortlisted candidates included businesses involved in electricity exchange, reconciliation software for the funds industry and stallion breeding services .
The three category winners all have a chance to be crowned Ireland’s overall “Best Young Entrepreneur”.
Announcing the names of the finalists and meeting them at their one-day business bootcamp in Wayra’s startup academy in Dublin today, Minister Bruton said: “Two thirds of all new jobs come from start-ups in their first five years of existence - that is why we have put in place a range of measures through our jobs plan to encourage more people to establish and grow new businesses in Ireland. ”
“A key part of this is encouraging more young people to consider starting a business as a career choice, and that is why we have put in place IBYE - to support, encourage, and celebrate our brilliant young entrepreneurs.”
“The sheer energy and quality of the 24 entrepreneurs who will compete in the IBYE national final, having come through a competition involving over 1000 applicants, is hugely encouraging. I look forward to seeing more of them over the coming weeks as they compete to be named as Ireland’s Best Young Entrepreneur.”
Sheelagh Daly of the Local Enterprise Offices highlighted the year-round supports that are on offer to young people thinking of setting up their own businesses.
She said: “The network of Local Enterprise Offices is a first stop shop for any new start-ups or small businesses looking to grow and expand. As well as one-to-one mentoring support and specialised training, the Local Enterprise Offices can also offer access to grants and loan facilities, to help get more businesses up and running.”