Dáil Éireann Debate, Tuesday - 30 June 2015
292. Deputy Dominic Hannigan asked the Minister for Jobs, Enterprise and Innovation the policies designed to promote youth entrepreneurship; the practical supports available to young entrepreneurs; and if he will make a statement on the matter. [25979/15]
Amharc ar fhreagra293. Deputy Dominic Hannigan asked the Minister for Jobs, Enterprise and Innovation the number of young entrepreneurs supported in setting up their businesses in 2014; and if he will make a statement on the matter. [25980/15]
Amharc ar fhreagraI propose to take Questions Nos. 292 and 293 together.
The National Policy Statement on Entrepreneurship in Ireland was launched by my Department in October 2014. It sets out the Government’s strategic objectives as a facilitator within the Irish entrepreneurship ecosystem. The Statement covers the six key elements that impact on entrepreneurs and start-ups and signposts the direction that policy will take in the coming years. This Policy Statement represents the first time a Government has published a comprehensive national plan for entrepreneurship in Ireland.
A key strategic objective of the Policy Statement is to ensure that greater numbers of people, particularly in under-represented cohorts such as youths, start and run their own business.
The Entrepreneurship Policy Statement contains a number of specific actions in order to ensure that more people, including young people, have an equal opportunity to start and run their own business.
I am personally driving and chairing the Implementation Group, comprised of senior officials from the key Departments and agencies, charged with oversight and delivery of the actions set out in the National Entrepreneurship Policy Statement.
The specific objectives for 2015 are to:
- Progress the actions from the National Entrepreneurship Policy;
- Utilise the New Frontiers Programme optimally to support emerging entrepreneurs;
- Continue to promote LEO’s as one stop shops for small business;
- Develop an action programme of support for pre-investment HPSUs; and
- Develop an Entrepreneurial PhD programme with a view to training more scientists in SFI supported research teams to launch their own businesses.
The Local Enterprise Offices (LEOs) are the ‘first-stop-shop’ for assisting start-ups, business development and job creation in each local area. Since anyone can access the LEO supports, data by age category is not available. Further information on LEO supports for business ideas can be found on the LEO website at www.localenterprise.ie.
Specifically the LEOs have been driving the competition to find “Ireland’s Best Young Entrepreneur” (IBYE) 2015, which the Taoiseach and I launched last month. This competition is designed to foster a culture of entrepreneurship among young people in Ireland and to encourage the establishment of new innovative businesses by Ireland’s best young entrepreneurs. A €2 million investment fund is available nationally and we are looking to improve on the 1,012 applications that were received last year.
The initial stage is a County-based competition leading to the naming of the Best Young Entrepreneur in each County. This stage involves the hosting of Entrepreneurship Boot-camps at local/regional level, where entrants will receive expert training and mentoring advice and have their business proposals assessed. The competition is open to individuals aged 30 and under.
The winners at County level will be eligible for an investment in their business of up to €25,000, while the winners at National level can receive an additional investment of up to €50,000, with one business-person being crowned “Best Young Entrepreneur in Ireland” before the end of the year.
I would urge any person under 30 who has a business or a business idea to contact their local LEO or visit IBYE.ie and apply to become Ireland’s Best Young Entrepreneur for 2015. The deadline to apply for this year’s IBYE competition is Friday, July 31.
Enterprise Ireland supports are available to all entrepreneurs, including young people, whose ideas and business plans are capable of internationalising in manufacturing and internationally traded services.
In 2014, Enterprise Ireland supported 183 new and early stage start-ups. These are ambitious companies, with innovative products and business development strategies that will enable them to carve out a place in global markets. Enterprise Ireland has set itself an ambitious target of 550 new and early stage start-ups supported over the period 2014 to 2016.
No one policy intervention will generate substantial impact on the entrepreneurship ecosystem, but various actions if taken together will combine to create greater synergies. The over-arching National Entrepreneurship Statement serves to co-ordinate all areas of Government policy in the area of entrepreneurship to drive these synergies and will deliver on increasing Youth Entrepreneurship.
