Enterprise Ireland’s €4.25m ‘New Frontiers’ programme to deliver 100 new
companies
Seán Sherlock T.D. Minister for Research & Innovation today (Monday)
launched ‘New Frontiers’, Ireland’s largest entrepreneur development
programme. New Frontiers is a national programme funded and coordinated by
Enterprise Ireland and will be delivered locally by 13 Irish Institutes of
Technology.
Announcing the details of the programme Minister Sherlock said: “The focus
of the New Frontiers programme is developing people into entrepreneurs -
laying the foundations and imparting the entrepreneurship skills needed to
move from business concept to reality.
“Enterprise Ireland is working in partnership with the Institutes of
Technology to ensure that the participants create sustainable businesses,
jobs and economic stability in regional locations. By giving the
individuals the skills they need to successfully set up and run a company,
they will be capable of replicating that success with other ideas in the
future.
“The New Frontiers Programme forms part of one of the action points set out
in the Government’s recently announced ‘Action Plan for Jobs’ and will have
the potential to deliver up to 100 new companies per annum”, Minister
Sherlock added.
This national programme is co-ordinated by Enterprise Ireland which is
providing €4.25 million in funding to enable the Institutes of Technology
to deliver the programme at a local level. The core element of New
Frontiers is a six-month intensive programme which will focus on developing
the person’s entrepreneurial abilities, equipping them with the skills they
need to run, and crucially to develop, sustainable businesses.
The New Frontiers programme will target high-potential entrepreneurs with
the commitment and capability required to develop and deliver sustainable
businesses. It is expected that the programme will produce a pipeline of
companies eligible for Enterprise Ireland’s high-potential start-up (HPSU)
supports.
Nationally 250 applicants will be accepted on to the first phase of the
programme where their business idea and their capabilities as a potential
entrepreneur will be tested. During this part-time 8 week phase the
participants will benefit from workshops on the business value proposition,
market research & validation, sales training, financial management.
Of those 250 applicants, 150 will qualify for the six month intensive core
element of the programme which will focus on developing the person as an
entrepreneur. They will be equipped with the practical skills they need to
run a business and challenged to realise their business goals.
Participants will receive financial support of €15,000 from Enterprise
Ireland as they focus all their efforts on developing a business during
this six-month period. They will also be given office space in the
Institute of Technology’s incubation centre, mentoring and access to
networking opportunities with potential investors.
Also speaking at the launch, Martin Lyes, Manager of Research & Innovation
at Enterprise Ireland said “The New Frontiers entrepreneur development
programme is for people who have an innovative idea and want to learn how
to set up and run a company around it. We are looking for people who can
create sustainable businesses with the potential to deliver local
employment”.
Information on the participating Institutes of Technology is available at
www.enterprise-ireland.com/newfrontiers
*The delivery of this programme by Enterprise Ireland is one of the action
points set out in the Government’s Action Plan for Jobs announced on
February 13th 2012