New Frontiers is an Enterprise Ireland programme aimed at supporting the establishment and growth of technology or knowledge intensive ventures that have the potential to trade internationally and create employment in Ireland. DIT Hothouse deliver the 3-phased programme in partnership with IADT.
Phase 1 lasts approximately two months and is part-time in nature – typically entailing two evening sessions per week. The programme facilitators will introduce the group to relevant startup strategies, challenge each participant’s business idea and encourage participants to prove some degree of market validation of their proposed product or service. Phase 1 participants then compete to secure a place on Phase 2.
Phase 2 includes funding support for each participant, subject to rigorous and frequent assessment of performance and progress. Phase 2 participants, who must be working full-time on their venture, engage in a series of interactive workshops addressing all aspects of the startup process.
Phase 3 is a period of flexible support, helping successful participants towards investment and expansion. Participants have access to hotdesk space within the DIT Hothouse incubation centre during Phase 3.
What does New Frontiers provide entrepreneurs?
- Training in all areas of business including financial management, market research & validation, business process, patenting, product development, sales training.
- Mentoring from experienced business advisers and practitioners.
- Office and other business incubation facilities.
- €15,000 from Enterprise Ireland for individuals participating in Phase 2 (*income tax liability will be the sole responsibility of the participant, and individuals are encouraged to seek professional advice).
- Networking with other entrepreneurs and business development agencies.
- Introductions to seed and early stage capital investment networks.
- Access to entrepreneurship best practice, both national and international.
- Peer-group learning from participants in the region and across the country.
- Access to expertise in Enterprise Ireland through our market information centre.
- Expertise from the institutes of technology and the supportive environment of their business incubation centres.
Who should apply?
This programme can help you if you:
- can demonstrate the capability and commitment needed to develop a sustainable business.
- are ambitious, intending that your enterprise will achieve turnover greater than €500,000 and create more than five jobs in three to five years.
- plan to build your business on a strong foundation of innovation and/or technology.
- can provide evidence of a commercial market for your proposed product or service.
- propose setting up an enterprise that is a manufacturing or internationally traded services business, or a new domestically traded service business with the potential to trade internationally.
We accept applications from a diversity of sectors including:
- food & consumer products
- information & communication technology
- engineering & electronics
- medical devices
- biotechnology, pharma
- digital media
- eligible internationally traded services
New Frontiers is a three-phase programme that is designed to provide an integrated and comprehensive set of business development supports to participants.
Opening Dates New Frontiers Phase 1
Opening Dates New Frontiers Phase 2
All dates are subject to change