LEAP Programme now accepting applications for 2009

 “The management of the Enterprise Acceleration Centre are gearing up for an especially busy few months of assisting start-up promoters and their teams to develop their innovative business concepts into profitable internationally focused businesses. We are delighted to announce that LIT is now accepting applications for the LEAP 2009 programme which will commence in late April – closing date for applications is March 2nd.”

This is according to Donncha Hughes, Manager of the Enterprise Acceleration Centre, Limerick Institute of Technology’s on-campus business incubator speaking following a networking seminar organised to mark the Mid-West launch of the Microsoft ® BizSpark™ program.

“In mid-December the Enterprise Acceleration Centre contacted Microsoft to see how we could get involved with their BizSpark program which had just been launched globally. As a Network Partner in this programme, the EAC can now sponsor technology start-ups to avail of current, full-featured Microsoft development tools and production licenses of server products allied to professional technical and expert business support. It is a superb initiative which readily fits with the remit of the EAC. We were delighted to use the occasion of the launch of BizSpark to also launch our recruitment drive for EnterpriseSTART and LEAP. Applications are currently being accepted for both these programmes. ”  

Recently appointed as a Microsoft BizSpark Network Partner, the Enterprise Acceleration Centre hosted a networking event on Thursday 5th February to announce that applications are currently being accepted for the LEAP 2009 programme .  Pictured (l-r) Ciaran Greene, Construct Software; Dr Maria Hinfelaar, President, LIT; Michelle O’Grady, Enterprise Ireland; and back Donncha Hughes, LIT; and Ronan Geraghty, Microsoft.

 Commenting on the success of the first two years of LEAP, Graham Royce, programme manager highlighted that LEAP is a milestone driven business development programme designed to support men and women entrepreneurs in their quest to establish growth oriented companies which deliver innovative products and services to an international market. He adds, “Over the last two years we recruited entrepreneurs who we identified as having the ambition and drive to set-up and grow their own business. The participants took-up residence, free of charge, in the Centre and then began a full time twelve-month programme that integrated a range of supports focused on strategic planning and practical business set-up which includes: management training, business coaching, mentoring and consultancy. Furthermore, participants on LEAP can apply to Enterprise Ireland for funding under the CORD programme in the form of a total package of 50% of previous year’s verifiable (P60/P45) salary up to a maximum €38,000. Nine of the LEAP 2008 participants were awarded CORD by Enterprise Ireland. The total amount of matching funding was €530,000 such that the business promoters will draw down €265,000 in feasibility funding over the 12 month period. Another advantage of CORD is access to Enterprise Ireland’s panel of mentors. A promoter may have key challenges facing the business to include: new product development; marketing and sales; route to market considerations; market research; team building or preparing a pitch for investors.  A mentor with relevant professional and sectoral expertise is selected to assist the company with the identified challenges and will meet with the promoter over a period of months to share their strategic insight so that the challenges can be addressed. The LEAP programme is entirely focused on realising the commercial potential of the business. The programme culminates with each business preparing an investor ready business plan with the EAC sponsoring a Business Plan Competition with a prize fund of €10,000 at the end of the year. Without doubt, LEAP offers twelve months of unparalleled support for entrepreneurs at such a critical stage in their business development. We are anticipating strong demand for the programme this year and we are delighted to have Tipperary, Limerick and Clare based role models to inspire the 2009 group.” 

Jerry Moloney, Mid West Regional Director, Enterprise Ireland and member of the EAC Advisory Board of Directors agreed that incubating high tech start-ups in regional locations is a collaborative effort between the Institutes of Technology and Enterprise Ireland. Focusing on the unique role of EnterpriseSTART, Mr Moloney recommended the programme for people proactively thinking of starting a business particularly those still in employment.

“In addition to providing the ideal environment for knowledge led start-ups to locate, the Enterprise Acceleration Centre deserves great credit for the quality of the business development training programmes delivered to clients. Enterprise Ireland is delighted to support both LEAP and EnterpriseSTART. We see EnterpriseSTART as playing a key role at the very early stage of the project. Last year, 40 budding entrepreneurs participated on two EnterpriseSTART programmes. This workshop based programme delivered over six weekends assists participants to: evaluate the market potential of their business concept; assess the key drivers of profitability; understand the steps that are required to start a business; and most importantly meet like-minded individuals at a similar stage of development. Having completed EnterpriseSTART, the participants will have an early stage business plan and can have constructive discussions with Enterprise Ireland on how we can help them to develop their business in Ireland and beyond.”

ENDS