Youth Affairs Minister Nikki Kaye has granted $500,000 to an initiative supporting young New Zealand entrepreneurs.

Inspiring Stories Trust was set up by 28-year-old Guy Ryan, who was announced at a ceremony last night as the 2015 Young New Zealander of the Year.

Since the trust was founded in 2011, the trust has launched the Festival for the Future and the Live the Dream accelerator programme which both aim to profile and support young entrepreneurs and their ventures.

Chair of Inspiring Stories, Vanisa Shiru, said Kaye's announcement was "invaluable and strong validation of our work to date".

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It will help the Trust to reach more people through its programmes aimed at growing the next generation of social entrepreneurs including expanding the successful Live the Dream accelerator programme."

Earlier this month Live the Dream wrapped up its 10-week-accelerator programme with a final showcase. The event in Wellington and Auckland saw 30 young social entrepreneurs pitch their ideas for 'a better New Zealand' to 300 leaders of the business community.

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Watch: Guy Ryan on Inspiring Stories at TEDxWellington 2014

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