A €10,000 cash prize is on offer to local entrepreneurs in a new competition aimed at encouraging entrepreneurship and rewarding local enterprise.
The competition which was launched earlier this week, is organised by SCCUL Enterprises, a community based company.
Galway businesses which are five years or less in operation are encouraged to enter in one of five categories - retail, industry, services, technology and social entrepreneurship.
Cash prizes of €1,000 are on offer to winners in each of the five categories with the overall winner claiming the top prize of €10,000. Runners up in each category will receive a cash prize of €500. The competition has a total prize fund of €25,000.
Jim Naughton, the chairman of SCCUL Enterprises Ltd, said it was delighted to introduced this awards scheme which would identify high potential entrepreneurs and help them accelerate their plans
“We cannot overstress the importance of entrepreneurship particularly in today’s economy. Galway has always been known for its entrepreneurial spirit and never has that been more needed than now,” he said.
“This awards scheme aims to encourage the development of an active entrepreneurial sector in Galway which in the longer term will help us sustain growth and make a significant contribution to creating a vibrant region and to achieving greater social inclusion.”
The judging panel includes leading business people, such as Anthony Ryan from Anthony Ryan’s Ltd, one of Galway’s longest established businesses, John Farragher of medical devices company Cambus Medical, and Michael Earls, a finalist in last year’s Ernst and Young Entrepreneur competition.
They will be joined by Carmel Brennan, the head of the Department of Accounting and Information Systems at GMIT, Eileen Dunleavy, business manager at St Columba’s Credit Union, Colm Feeney of SSL Logistics, the Jona Group’s John Grealish, Phyllis McNamara of Cobwebs and Declan O’Connor from BQAI.
The closing date for receipt of applications is Monday October 4. The winners will be announced at the SCCUL Entrepreneur’s Day on Thursday October 21 at Ballybane Enterprise Centre. Entry is open to Galway businesses which are established since September 1 2005 and who live or work in the area of St Columba’s Credit Union. For further information log onto www.bbec.ie