By Cillian Doyle.
South East entrepreneurs are to benefit from €3 million New Frontiers investment.
Waterford Institute of Technology and Institute of Technology Carlow have jointly secured €3m from Enterprise Ireland to operate the New Frontiers entrepreneur development programme in the South East over the next five years.
The programme is for potential entrepreneurs who have an innovative business idea or an innovative technology that has the potential to be developed into a scalable, high-potential start-up company.
The Enterprise Ireland funding will allow the two institutes – which are working together to create a Technological University for the South East – to work with over 400 early-stage entrepreneurs over the five-year funding period, with 95 of the high-potential entrepreneurs receiving a payment of €15,000 each to participate in New Frontiers.
The programme, to be delivered at the ArcLabs innovation hub in Waterford and the ERIC incubation hub in Carlow, is now taking applications from entrepreneurs and innovative business start-ups.
Gemma Purcell, the New Frontiers Programme Manager at Institute of Technology Carlow said:
“We are delighted to continue supporting entrepreneurship and innovation across the south-east region through the New Frontiers programme.
IT Carlow has been delivering such programme since 2007 and has already been responsible for the creation of numerous successful enterprises in the region such as MicroGen Biotech and Seed Golf, both international success stories.
Microgen Biotech raised $5.1 m in Series A funding and has been selected as a finalist of the 2021 EY Entrepreneur Of The Year competition. Seed Golf has customers in 34 countries and is currently raising €1 million through crowdfunding and direct investment.”