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(Newsletter Via Thomson Dialog NewsEdge) This Thursday, 24 of Ireland's top business stars, including three from Northern Ireland, will be competing for the prestigious title Ernst and Young Entrepreneur of the Year. ADRIENNE McGILL profiles the trio who are among the entrepreneurial elite.
SINCE their inception 20 years ago, the prestigious Ernst & Young Entrepreneur of the Year awards have honoured entrepreneurial men and women across the globe and the companies they have built and grown.
The awards programme now stretches across 26 regions in the US and 35 countries throughout the world and recognises the vital contributions of entrepreneurs who have led, created, built and sustained world-class companies that are a testament to vision, leadership, achievement, and social responsibility.
This Thursday evening, 24 leading Irish entrepreneurs will compete for title 2006 Ernst and Young Ireland Entrepreneur of the Year at a gala ceremony in Dublin's City West Hotel.
The acclaimed title is in recognition of the winner's role in driving, building and sustaining the economy of Ireland.
Among the finalists will be three entrepreneurs from Northern Ireland: Martin McKay of Texthelp, Christopher Watson of Chain Reaction Cycles and Steve Brankin of Asidua.
The trio have reached the final after being chosen from a competitive pool of more than 150 business and individual entries across the island of Ireland.
Invest Northern Ireland, Enterprise Ireland, InterTradeIreland, Ulster Bank and the Ryan Academy for Entrepreneurship are co-sponsors of the all-island event.
Invest NI's Director of Life Sciences and Creative, Donal Durkan, says: "This is not just another awards ceremony. Taking part in the Ernst & Young Entrepreneur of the Year Awards is a tremendous experience for local entrepreneurs, regardless of whether they win.
"Over the last six months these 24 finalists got the opportunity to attend an entrepreneur CEO retreat in Shanghai, China, met with Chinese business leaders and local entrepreneurs, participated in masterclasses with global business experts and were able to network with over 60 finalists and winners from previous years. They have made valuable contacts and many are going away with a completely fresh perspective on how to take their business forward," adds Mr Durkan.
Companies are judged on criteria such as growth in turnover and employee numbers, vision, innovation, creativity in production, marketing and selling, and expansion in local and international markets. There will be individual winners in the category of Emerging Entrepreneur of the Year, Industry Entrepreneur of the Year, and International Services Entrepreneur of the Year as well as an overall winner.
The overall winner will then take part in the World Entrepreneur of the Year Award in Monte Carlo next year.
'Having your perceptions challenged is invaluable'
Martin McKay, Texthelp
MARTIN McKay is the Technical Director of Antrim based Texthelp, the global market leader in the design of technology and software products which benefit students and educational institutions to improve reading and writing abilities.
He was nominated by Invest Northern Ireland and is a finalist in the international category of the awards.
This is Martin's second time in the competition and he feels that Texthelp benefited enormously from the fresh perspective the competition gave him the first time round.
"I learned a lot from people I met who were running very diverse businesses and it spurred me on to open new business units within Texthelp. I was delighted to be nominated again this year."
The 2006 programme was particularly attractive to Martin because of the focus on China. "The 10-day trip to China included three days of lectures and three days of meetings. The lectures were excellent and the meetings gave me a good insight into the Chinese market. I discovered that there are 250 million Chinese seeking a qualification in English and that by 2008, when the Olympics will be held in Beijing, every taxi driver must be proficient in English. As a result of the trip we have an opportunity of signing a deal with a Chinese company to stream audio to taxi drivers via their radios to help them learn English."
Texthelp employs 55 and has a multi-million pound turnover. Its products include the award-winning Read & Write Gold for special needs students, and it also owns the Browsealoud technology and brand.
On a personal level Martin feels that participating in the awards has been very worthwhile. "It's good to get out of your own working environment and meet other business people. Having your perceptions challenged is also invaluable," he says. "It's always difficult to justify taking time out from work but taking part in these awards has already delivered many benefits - and it's been fun."
Chance to identify potential new business opportunities
Steve Brankin, Asidua
STEVE Brankin is the CEO of Asidua, a rapidly growing, software consultancy and services company in Belfast. He was nominated by Invest Northern Ireland and is a finalist in the emerging entrepreneur category of the awards.
Steve was initially a little sceptical as to how the initiative could benefit him:
"I thought it would just result in another awards ceremony but I carried out some research and was really impressed with the networking and personal development opportunities on offer."
Steve was successful in the shortlisting process and, with the other 23 participants, he embarked on an intensive few months of activities.
"It was hard work," he admits, "but absolutely amazing. Ernst and Young developed a really dynamic and imaginative programme which really kept me engaged in the process."
In particular, Steve found the networking elements and the team spirit gave him a completely new perspective on things.
"I didn't think I would have so many challenges and issues in common with business people from such diverse sectors. It was really refreshing to discuss an idea or problem with someone from the construction or food sector who has been through a similar experience."
But it was the trip to China with fellow participants and the judging panel which really made an impact on him. "I was completely amazed by the rapid growth of the economy there. It really put things into perspective and also helped me to identify potential new business opportunities."
It's clear that the initiative has had a major impact on Steve and has proven to be an invaluable experience. "Regardless of the outcome on 28 September, I already consider myself to be a winner. For anyone thinking of entering next year I would just say go for it - you will never have a better opportunity to develop your skills, contacts and your business."
'The experience has been great'
Christopher Watson, Chain Reaction Cycles
CHRISTOPHER Watson owns and runs Chain Reaction Cycles in Ballyclare, the largest independent retailer of cycle parts on the UK and Irish markets. Chris was nominated by the Ulster Bank and is a finalist in the international category of the awards.
"I was surprised to be nominated because you don't really think of yourself as an entrepreneur, you're just getting on with things," he says. "But the whole experience has been great."
The highlight of the awards programme so far for Chris was the trip to China with the other finalists. "We got the chance to attend excellent lectures at business schools there, as well as visiting potential customers and suppliers," says Chris. "The chance to talk to 23 other like-minded business people was especially helpful for me. Getting their perspective helped me see the potential for my business. When you're working on your own you sometimes wonder 'am I doing this right?' but this experience has given me a lot more confidence and reassured me that I am."
Chain Reaction Cycles supplies high value cycle parts and clothing from more than 300 brands direct to the end consumer. The company exports to over 100 countries and its award-winning website is translated into four languages.
Despite this, Chris feels that the company has had a low profile and so has been delighted at the publicity generated by the Ernst and Young awards.
"Although we employ over 70 staff and trade internationally, we have a low profile. The media coverage we have enjoyed by being involved in the awards has been great for making our name more widely known and giving us added credibility," he says.
Copyright 2006 . Century Newsletters Ltd.
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