Budding local entrepreneurs in full blossom!
Galway’s budding entrepreneurs would appear to have doubled in numbers over the past twelve months if entries for one of the country’s most prestigious competitions in that sector are anything to go by.
Because there are a record number of Galway entries into this year’s Ireland's Best Young Entrepreneur competition – up from 65 to 128, according to Local Enterprise Office (LEO) Galway chief Breda Fox.
The Galway entrepreneurs all aged between 18 and 35, are among the 1,842 entries from around the country competing for a chance to share in the €2 million national investment fund competition – with a specific Galway investment fund of €50,000.
The next stage in the competition is the business boot camps, which LEO Galway is hosting this month – and they will play a major role in the IBYE competition.
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.
When the boot camps come to an end, the next stage in the competition is the county final, which will be held on December 9 in the Portershed.
LEO Galway has an investment fund of up to €50,000 to award to six young entrepreneurs in the area across three categories – Best Business Idea, Best Start-Up Business and Best Established Business.
For more, read this week’s Connacht Tribune.