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Dublin: 9°C Wednesday 26 January 2022

Enterprise Ireland scheme aims to create 100 companies annually

The government is launching a new multi-million euro scheme for entrepreneurs today.

Junior Minister Seán Sherlock is launching the scheme today
Junior Minister Seán Sherlock is launching the scheme today
Image: Sam Boal/Photocall Ireland

THE GOVERNMENT IS today launching a new entrepreneur recruitment programme which aims to deliver 100 new companies every year.

The New Frontiers programme is being launched by Minister for Research and Innovation Seán Sherlock who said that the scheme would “give people the skills they need to successfully set up and run a company”.

The scheme is being funded and co-ordinated by Enterprise Ireland and will be delivered at a local level by the 13 Institutes of Technology (IT) across the country. It will cost €4.25 million to implement.

“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,” Sherlock said.

New Frontiers is part of the government’s Action Plan for Jobs which was launched amid much fanfare recently. Sherlock said it will have the potential to deliver 100 new companies annually.

“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,” Sherlock added.

Sherlock said that 250 applicants will be accepted on the first phase of the programme where they will be tested on their business idea over an eight-week period. After this 150 will qualify for the six-month training scheme.

Particpants will be given office space in the relevant IT as well as €15,000 from Enterprise Ireland to allow them to develop their business over a six-month period.

“We are looking for people who can create sustainable businesses with the potential to deliver local employment,” Martin Lyes, Manager of Research and Innovation at Enterprise Ireland said.

Read: Here’s how the Government plans to create 100,000 jobs

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Hugh O'Connell

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