Monday, August 01, 2022

 

A four week New Frontiers programme starts in September 2022 in SETU Waterford and is the ideal platform for early-stage entrepreneurs from across the south east

New Frontiers is ideal for early-stage entrepreneurs who have an innovative business idea or an innovative technology that has the potential to be developed into a high-growth start-up company. 

New Frontiers offers a supportive yet challenging environment to help entrepreneurs plan and launch their new business. South East Technological University (SETU) Waterford’s New Frontiers programme, which is funded by Enterprise Ireland, is based at the ArcLabs Innovation Hub at SETU West Campus in Carriganore, Waterford. 

The New Frontiers Programme Manager at SETU Waterford, Dr Eugene Crehan, was quoted saying “the free course has saved past participants from making wrong financial decisions in relation to their business, as well as giving them the tools to take their idea or start-up to the next level.”

“The impact of the pandemic will inspire innovation in digital solutions for businesses and society and new ways of doing things. Phase 1 of the programme will help entrepreneurs and innovative start-ups to develop their business ideas. Some participants will go onto Phase 2 which starts in December 2022.”

New Frontiers is a highly impactful programme, particularly for participants who go on to Phase 2 of the programme. Eugene explains, “In a review of SETU Waterford’s New Frontiers programme for the five year period 2016 to 2021, the 48 participants of Phase 2 created 88 jobs in the region and have generated annual sales of over €4M.

“Between them they have secured €19.8M in follow-up funding and supports, €2.5M from private investors, €6.7M from an IPO and approximately another €10M in other state supports through Enterprise Ireland, the Local Enterprise Offices, the NDRC and the European Space Agency (Irl).”

Successful applicants to Phase 2 are eligible for financial support up to €22,500, to further develop their innovative business start-up. This financial support gives people the chance to develop their business while getting paid to do so.

The deadline for applications for the next New Frontiers is 10 September 2022 – apply online at www.wit.ie/newfrontiers. The time commitment for Phase 1 is just two evenings per week, starting from 20 September 2022. 

 

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