Speech by the Taoiseach, Mr Enda Kenny TD, at the launch of the ‘Ireland’s Best Young Entrepreneur’ 2015 Competition

In rebuilding an enterprise focused economy we need young people with the business ideas of tomorrow, the passion to succeed, and the energy to lead.

Last year’s inaugural competition really captured the imagination of our creative and enterprising young people with over 1,100 entries.

I wish to pay tribute to all those involved in the competition, from the aspiring applicants to all those who worked so hard across the country in the Local Enterprise Offices and who delivered such a successful competition.
 
This year, building on the success and the drive and enthusiasm displayed in 2014, we are actively seeking participation from the wide diaspora of young Irish people throughout the world, including those who have emigrated in recent years.

My Government wants to see those people return home and bring their experiences and energy to bear on the recovery and rejuvenation of the Irish economy.

I know that one aspect of last year’s competition that really appealed was for the entrepreneurs to meet and learn from each other during the course of the competition, particularly for those who qualified for the boot-camp stage.  

On the whole ‘Ireland’s Best Young Entrepreneur’ is a unique, interactive and challenging competition, but with clear and tangible results, from self-development and networking to the valuable financial aid available to category winners.

This year the Government has set aside €2 million to support entrepreneurs through this competition and that funding will be rolled out for the competition at county, regional and national level and across all sectors of the economy.

Each Local Enterprise Office will run a competition in their county, with a fund of up to €50,000 to invest in and support the three best young entrepreneurs.

This initiative provides a perfect platform for young people to challenge themselves to develop that business idea that they have or to scale up an existing business.  

Supporting jobs, enterprise and local recovery and making sure that work pays is what my Government has set out to do. This is really what the Government is all about and we are succeeding.

When we launched the Action Plan for Jobs we targeted 100,000 new jobs by 2016. We have beaten that target and are now pushing on for full employment by 2018.

Since we launched the competition last year there are more than 45,000 fewer unemployed. From a peak of 15.1%, unemployment is now 9.8%. More people are working full-time and fewer young people are without jobs.

My vision for Ireland is to be among the most entrepreneurial nations in the world and to be acknowledged as a world-class environment in which to start and grow a business, including for young people with bright ideas.

That is why increasing entrepreneurial activity is one of the core themes of the 2015 Action Plan for Jobs. It is one of six of the new Disruptive Reforms in this year’s plan, with the goal to double the jobs impact of start-ups in Ireland over the next five years, from 93,000.

This competition has been designed to start us down that path.
It shows the importance this Government attaches to entrepreneurship, and particularly to young entrepreneurs.
It is part of our wider plan to get Ireland working, and we are working hard to support and nurture our entrepreneurs.

While the next Mark Zuckerberg or Richard Branson may be in the next competition, not everyone will go on to reach those heights.

But everyone who creates their own job, employs another, and supports their family and country, is a business icon in my book and will get the support they need from this Government.

For anyone considering entering this year’s competition the experiences of your predecessors last year are worth reflecting on.

Prize money from winning at some level in the competition has paid for new jobs, new equipment and new product development.  

The experience of the boot camps and the mentoring were also cited as valuable, helping to improve public speaking skills and practice in pitching an idea for investment.

It also helped peer networking; training and learning, finding funding opportunities and building relationships with the LEO network, all of which are so valuable when first setting up in business.

This year’s Competition provides another wonderful opportunity to young entrepreneurs throughout the country, and abroad, and I would encourage all interested young people to apply and avail of the supports and mentoring involved in this competition.  

I also want to wish all the applicants the very best of luck.

The future of business development and international investment in Ireland is closely related to our international links with the world.
We are a small open economy we need to grow our transport connections.

It is in this context that Government made the decision last night to support for IAG’s offer for Aer Lingus and the disposal of the State’s 25.1% minority shareholding in Aer Lingus

Throughout this process the Government has sought to secure the best deal for Ireland. I believe we have achieved this.

This deal is the best means of securing and enhancing Ireland’s connectivity with the rest of the world and maintaining a vibrant and competitive air transport industry in Ireland.  It would also best serve the interests of the travelling public, Aer Lingus and its employees, the Irish tourism industry and the Irish economy as a whole.

The Government has secured stronger and more durable guarantees than currently exists in respect of Ireland’s future connectivity, particularly to London Heathrow, and on the maintenance of Aer Lingus’ iconic brand and of its head office in Ireland.  IAG itself has set out ambitious growth plans for the company and the Government is confident that supporting IAG’s offer for Aer Lingus is the best way of securing Aer Lingus’ future in an increasingly competitive global airline market and of enhancing Ireland’s connectivity with the rest of the world and our potential for growth and development into the future.

This Government will continue to make the changes necessary to grow Ireland’s economy, create jobs and to secure recovery.