€20,000 funding for two ‘established’ young entrepreneurs in Co. Leitrim

Claire McGovern

Reporter:

Claire McGovern

Email:

editor@leitrimobserver

€20,000 funding for two ‘established’ young entrepreneurs in Co. Leitrim

Local Enterprise Office Leitrim is calling on more established entrepreneurs to enter this year’s €2 million Ireland’s Best Young Entrepreneur competition before the October 14th deadline.
The Best Established Business category is one of three categories in the IBYE competition, which is aimed at young business owners aged 35 and under. Local Enterprise Office Leitrim has a county investment fund of €50,000 and the local winner of the Best Established Business category will receive €15,000 with the runner-up receiving €5,000.

Joe Lowe, Head of Enterprise with Local Enterprise Office Leitrim said: “Once a company successfully comes through the start-up phase, growing an established business presents its own unique set of challenges. In addition to the significant investment funding on offer through the IBYE competition, every Local Enterprise Office will be inviting young entrepreneur entrants, including young established business owners, to take part in regional Business Bootcamps, with access to expert guidance and mentoring to help them overcome these challenges.”
Each LEO will have a total fund of up to €50,000 to invest in six businesses (three category winners and three runners-up) according to criteria including businesses’ investment needs. The three categories are 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)
The county winners will then proceed to eight regional finals from which 24 contenders (three from each region – one in each category) will be selected to compete for the national title of Ireland’s Best Young Entrepreneur. A further €100,000 investment fund will be available to invest in the winners of the three categories at the national final, one of which will also be named with the prestigious title of Ireland’s Best Young Entrepreneur.

The closing date is Friday, October 14th,