Local Enterprise Office Dún Laoghaire-Rathdown (LEO DLR) has announced that a record number of participants have entered the ‘IBYE’ competition this year, for a chance to share in a local investment fund of €50,000. The total number of entries nationally was 1,842 this year, compared with 1,398 entries last year, which is up by 32%.
The next stage in the €2 million investment fund competition is the Entrepreneur Bootcamp, which LEO DLR is hosting in Dunboyne Castle Hotel on the 18th and 19th of November.
Boot camps play a major role in the IBYE competition, as 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.
On completion of the boot camps, the County final will be held on the 30th of November in the Royal Marine Hotel Dún Laoghaire. LEO DLR's investment fund will be shared amongst six young entrepreneurs in the area across three categories – Best Business Idea, Best Start-Up Business and Best Established Business.
An Cathaoirleach of Dún Laoghaire-Rathdown County Council, Cllr Cormac Devlin, said,
“Local Enterprise Offices are the key drivers of the enterprise culture, both locally, regionally and nationally. It is essential to take fresh approaches to entrepreneurship and to equip today’s young entrepreneurs with the skills to create their own jobs, and as they succeed, to create jobs for others too. This competition can do just that”.
The significant rise in entries has been welcomed by Minister for Jobs, Enterprise and Innovation, Mary Mitchell O’Connor T.D:
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. IBYE provides a fantastic opportunity for aspiring and established young entrepreneurs to compete for investment funding, avail of expert business advice and form invaluable peer networks in enterprise boot camps where experience and knowledge can be shared.