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Ireland's Best Young Entrepreneurs

Posted on: 13 Apr 2018

Country: Ireland

Continent: Europe

Policy Area: Awareness & networking

Type Of Policy Resource: Tested policy

Description: This measure eases access to finance by establishing a challenge fund of € 2 million, available each year, in addition to the organization of the competition for the best business idea. Local Enterprises Offices round the country select a category winner and runner-up, which have been awarded €50'000 Investment fund. These finalists then enter into a specialized Entrepreneur Bootcamp. The winners of the national final have been awared a further € 100'000 Investment Fund.

Aim: The aim of the initiative is to encourage and support a culture of entrepreneurship among young people (18-35) in Ireland and to promote entrepreneurship as a career choice.

Implementing agencies: Ministry for Jobs, Enterprise and Innovation

Evidence of results: The number of entries in 2016 hit a record high, with 1'842 competitors, coming from every county in Ireland. 450 young people attended the Entrepreneur Bootcamp. There were 186 local winners and runners-up, sharing investment of between € 3'000 and €15'000 each. Youth entrepreneurship gained the attention of the media and the program was a success. Was it not yet known is the counterfactual: how many young people sarted a business that they would not have started, had the competition not taken place? The evaluation of the metrics are due in 2018.

Links: http://www.ibye.ie/

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