New Frontiers

new_frontiers_image_banner.jpg

New Frontiers at AIT and Maynooth University

New Frontiers 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 number of 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.

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). 

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.

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.

Applications are now open for AIT-Maynooth New Frontiers 2021. For more information, contact Nick Allen, Programme Manager. Tel: 090-6483043 or email nallen@ait.ie

Important Dates 2021

Event

Date

Phase 1 Applications Open

Now Open to Applications 

Phase 1 Applications Close

THURSDAY May 27th 2021 (COB)

Phase 1 Start

Week of 31st May

Phase 1 End

Week of 5th July

           Weekly Classes on Teams

 Class 1

Class 2

Online Seminar 1 16:30 to 20:30pm

June 1st

June 2nd

Online Seminar 2 16:30 to 20:30pm

June 8th 

June 9th

Online Seminar 3 16:30 to 20:30pm

June 15th

June 16th

Online Seminar 4 16:30 to 20:30pm

June 22nd

June 23rd

Online Seminar 5 16:30 to 20:30pm

June 29th 

June 30th

Online Seminar 6 16:30 to 20:30pm

July 6th

July 7th

Phase 2 Applications Open

1st June 2021

Phase 2 Applications Close

21st August 2021

Phase 2 Programme Start

October 2021

Phase 2 Programme End

March 2022

Who Should Apply to New Frontiers?

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.

New Frontiers Phases

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.

New Frontiers Success Stories

View videos of New Frontiers success stories

 

 

File Downloads

Useful Links

Downloads