New Frontiers
New Frontiers at AIT and Maynooth University
We can help you develop and test your business and build a strong case to secure equity investment.
The AIT-Maynooth New Frontiers programme – working in close partnership with the Enterprise Ireland team and the Local Enterprise Offices in the region - has built a reputation for helping start-up ventures to attract investment and move to the next level. Over the past two years, participants on our programme have amassed no less than eight Competitive Start Fund (CSF) awards from Enterprise Ireland. Each CSF award is worth €50k and is an excellent vehicle to ensure there is space and funds to grow the business in the early stages. Our participants have also been significantly supported by the LEOs in the region.
As well as a Programme Manager, the AIT-Maynooth programme team includes an Enterprise Development Manager whose focus is on preparing participant projects to secure High Potential Start-Up funding from Enterprise Ireland and investment from private sources – with a significant track record of success.
Our CSF and HPSU successes – as well as our strong relationships with the LEOs in the region - are great quality validation of the AIT-Maynooth programme which continues to evolve and improve.
WE CAN HELP YOU TOO !!
GET ON THE LADDER AND APPLY FOR NEW FRONTIERS 2020
What is New Frontiers?
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.
Phase 1 lasts approximately six weeks and is part-time in nature – typically entailing one evening session per week and normally includes a weekend bootcamp (Friday evening and all day Saturday). Due to Covid19 restrictions this year’s programme will be delivered online starting Week 1 July and finishing Week 2 August. Please bear with us whilst we finalise our online format – watch this space for updates
The Phase 1 programme will introduce you to relevant start-up strategies, challenge your business idea and encourage you to demonstrate market validation of your proposed product or service. The goal is to see if you have a viable idea worth taking forward and to learn the fundamentals of entrepreneurship.
Participants who complete Phase 1 will be encouraged to apply for Phase 2 of New Frontiers 2019.
Please note that participation in Phase 1 is not a prerequisite to applying for Phase 2.
Phase 2 includes Enterprise Ireland 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 and 1:1 supports addressing all aspects of accelerating the development of their business. Phase 2 participants are provided with start-up facilities in the Midlands Innovation & Research Centre at AIT or in MaynoothWorks at Maynooth University.
Phase 3 is a period of flexible support, helping successful participants towards investment and expansion.
We are now open for applications to AIT-Maynooth New Frontiers 2020
Interested in Applying ?
For more information, please contact Nick Allen, Programme Manager, at:
090-6483043 or email nallen@ait.ie
| Event | Date |
| Phase 1 Applications Open | 28th April 2020 |
| Phase 1 Applications Close | 26th June 2020 |
| Phase 1 Start | Week 1st July 2020 |
| Phase 1 End | Week 2nd August 2020 |
| Phase 2 Applications Open | 1st June 2020 |
| Phase 2 Applications Close | 21st August 2020 |
| Phase 2 Programme Start | October 2020 |
| Phase 2 Programme End | March 2021 |
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.
The AIT Maynooth New Frontiers programme is open to applications from a diversity of sectors including:
- Food & consumer products.
- Information & communication technology.
- Engineering & electronics.
- Medical devices.
- Biotechnology, pharma.
- Digital media, and
- Eligible internationally traded services
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.
The Programme
New Frontiers is a three-phase programme that is designed to provide an integrated and comprehensive set of business development supports to participants.
| Phase 1 - Testing | Phase 2 - Developing | Phase 3 - Implementing |
| Purpose | Purpose | Purpose |
| Provide
knowledge & skills to test business idea |
Intensive development of
the promoter and business proposition |
Determine viability of the
business |
| Developing and testing the
Business Model |
Pursue funding opportunities | |
| Learning to pitch the
business |
||
| Developing an investable
business plan |
||
| Commitment | Commitment | Commitment |
| Part-time | Full-time | Ongoing |
| 6 Weeks | 6 months | No stipend |
| No
stipend |
€2,500/month* | |
| Output | Output | Output |
| Preparation
of promoters for intensive planning phase |
Fully explored business
proposition. |
Sustainable business |
| Viable and tested business model | Entry to EI or CEB process where
appropriate |
|
| Milestone-based implementation
plan and business plan |
Phase 1 - Testing the business
The first phase will be part-time over an 8-10 week period and will help you to validate the market potential of your business idea. These weekend and evening workshops will provide information and general start-up training, allowing you to tease out the feasibility of your business idea and to see whether a viable proposition exists.
Phase 2 - Planning the business
Following a competitive selection process, committed participants who have a strong value proposition and can demonstrate that their business proposition has potential to grow and create jobs may be offered a place on Phase 2.
If successful, you will receive intensive support for six months to develop both your own skills and to work up your business proposition. This will entail full-time participation in workshops, mentoring and regular reviews. Using these supports, you will fully detail and validate your business proposition and identify potential customers, sales channels and funding options.
You must be available for full-time participation. To facilitate this, you will receive up to €15,000 in funding subject to satisfactory development reviews (*income tax liability will be the sole responsibility of the participant, and individuals are encouraged to seek professional advice on this).
The aim of this phase is to support you in your development of an investor-ready business proposition.
Phase 3 - Developing the business
On the basis of their potential to develop sales and/or secure investment, businesses emerging from Phase 2 will then be guided to the government supports that can best help them at their particular stage of development. Further incubation facilities and support may be available to participants for a limited period.
