€15,000 Available from GMIT New Frontiers Business Start-Up Programme - Applications Are Open


New Frontiers provides an optimised business start-up process to people with innovation for large markets. This program is free!!!

If you have an innovative business idea with a plan to establish your own company, or you are already at an early stage of development, the New Frontiers Programme can provide you with funding, expertise and support to accelerate your business development.

How does the Programme benefit entrepreneurs?

  1. Expertise in all areas of business including investment, market research & validation, business model, patenting, product development, sales and marketing.
  2. Mentoring from experienced business advisers and practitioners.
  3. €15,000 tax free funding the Phase 2 (we take no equity).
  4. Networking opportunities with other entrepreneurs and business development agencies.
  5. Introductions to seed and early-stage capital investment networks.
  6. Access to entrepreneurship best practice – both national and international.
  7. Peer group learning from participants in this region and across the country.
  8. Access to the expertise in Enterprise Ireland through the Market Research Centre.
  9. Optional free office hot desk space and the supportive environment of the Innovation Hubs in Galway and Mayo.

To apply, you need:

  • An innovative idea
  • Have identified an unmet need in a large market
  • Ambition to succeed and grow the business
  • Target €500k turnover and 5 employees in 3-5 years
  • Locate the business in the West of Ireland
  • To be aged 18 years +

New Frontiers is Delivered in Three Phases:

The First Phase will test the feasibility of the proposition. It is the shortest phase (6/8 weeks) and will be conducted on a part-time basis. It will focus on the promoter, product/service, market opportunity, business model and feasibility study.

The Second Phase is much more intensive. Those accepted onto this phase must commit to their new business on a full-time basis for 6 months. Typically 80% of this time is dedicated to working on the new business with just 20% attending modules, workshops and mentoring. Optional office space will be offered for FREE in the GMIT Innovation Hubs. €15,000 funding will be available to all eligible participants.

The Third Phase is three months duration and focuses on business success and growth, getting to the market, exporting, hiring key staff and attracting investment

Eoin Heverin, founder of www.foodiesave.com in Castlebar says: "Though I had already started Foodie Save, I was encouraged by other successful businesses they supported. The process, mentors and consultants really helped me develop my business. I highly recommend New Frontiers to any entrepreneurs whether you are pre or early start-up.”

The 2021 programme is now open to new applicants. First preference places will be offered to those who return their applications by Wednesday, May 26th 2021. Apply early as places are limited!

To apply for this exciting business opportunity, visit www.gmitihubs.ie/newfrontiers