'Up-and-coming Irish business people are invited to participate in the Ernst & Young Entrepreneur of the Year Awards.

It is open to owner-managers primarily responsible for the recent performance of a company at least two years old or a younger e-business where there is a clear trend towards profitability.

Founders of public companies are also eligible provided they are still active in top management. Anyone associated with the entrepreneur may nominate, as may the individuals themselves.

It is the sixth year the awards have been staged in Ireland. Previous winners included Mr Denis O'Brien (Esat Telecom, 1998), Ms Moya Doherty/Mr John McColgan (Riverdance 2000) and Mr Eddie Jordan (Jordan Grand Prix, 2001). Last year's winner was Mr Padraig O Céidigh, chief executive of Aer Arann, who presided over a huge increase in passenger numbers in recent years.

The awards were widely recognised as an inspiration to an upcoming generation of business people, said Mr Enda Kelly, Ernst & Young partner in charge of the programme.

"The awards programme is much more than a night of acclaim at an awards ceremony or a trophy to display. It's also about inspiring entrepreneurial leadership through a creative programme that recognises and incentivises entrepreneurs' success."

He added: "We've listened very carefully to ... awards nominees over the last five years and responded with a programme that provides significant value in participation for all entrepreneur nominees. This delivers practical supports and tools to build the entrepreneur's business profile in the community." Nominees will be able to avail of a password-protected website where they can showcase their products and build relationships with other entrepreneurs around the world. The closing date for nominations is March 28th.

The shortlisted candidates will be profiled in The Irish Times, which is the print media sponsor. The award ceremony will be televised by RTÉ in late September.