Entrepreneurship

Entrepreneurs in the Mid West invited to apply for Development Programme

Entrepreneurs in the Mid West are being invited to apply to the New Frontiers Programme which includes a support package valued at €45,000, and is designed to provide key entrepreneur and innovation skills at a crucial time in the global economy.

New Frontiers, the leading national entrepreneur development programme run by LIT and Enterprise Ireland at the Hartnett Enterprise Acceleration Centre, is accepting applications ahead of the August 12 deadline.

The six month intensive New Frontiers programme provides practical support to entrepreneurs, especially now during unprecedented global change due to the Covid-19 pandemic, and at a time when momentum and development of new innovation and entrepreneurship is considered crucial to the world’s economy.

The LIT Hartnett Enterprise Acceleration Centre has a wealth of experience in supporting entrepreneurship and has supported approximately 100 ventures through New Frontiers since its launch in 2012. 

To date the entrepreneurs on the New Frontiers programme have helped create more than 300 direct jobs, with two companies also creating an estimated 500 part-time jobs. Entrepreneurs supported by LIT at its enterprise centres (Hartnett, TCEC Thurles and Questum, Clonmel) have raised more than €70 million to date in investment, while other companies have been sold, including one company for tens of millions of euros.

Each Entrepreneur who successfully applies for the New Frontier Programme has access to a development package valued at €45,000, which includes a €15,000 tax-free stipend as well as web hosting and support from Amazon worth up to $15,000. 

The programme also allows for unrivalled access to a network of mentors, entrepreneurs in residence, alumni, investors and corporate partners, and the knowledge base of LIT, its collaborators at UL Nexus, its network of HEIs in Ireland and its international partners as part of RUN-EU (Regional University Network – European Union).

Dr Liam Brown, Vice President Research, Development & Innovation, LIT said, “The New Frontiers programme focuses on developing core entrepreneur skills, an innovators toolkit and opening global networks for promising entrepreneurs who have ideas with international potential.”

Gillian Barry, Head of Innovation & Enterprise, LIT emphasised that while there are many challenges in the world today, times of crisis provide huge opportunities for new innovation and entrepreneurship. 

“In times of crisis we often see immense advances in innovation. During WW2 we saw the first computer developed, the aftermath of the last financial crisis we saw an huge leap in Fintech and now in this current global crisis we are seeing an increase in innovation and entrepreneurship across just about every sector including health, manufacturing, transport, tourism, privacy, education and entertainment underpinned by advancement in science and technology. Opportunities that businesses might have expected to have years to prepare for are here, now. To meet these challenges, entrepreneurs will need to innovate, invent, and gain momentum faster than ever,” she said.

Mary Casey, New Frontiers Programme Manager added, “We are living in an unprecedented time, New Frontiers will help entrepreneurs gain the momentum they need as we head into a fast-changing future. We are welcoming applications for our New Frontiers programme now at www.HartnettCentre.ie/NewFrontiers.” 

 

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