TRANSFORM YOUR BUSINESS IDEA
In association with Enterprise Ireland |
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| Barry Egan, Director, North West Region, Enterprise IrelandRegional Development Executive |
You have an idea for a business that you have been thinking about for a while. You believe your idea is unique and that people will be prepared to pay for this idea. Well what are you waiting for asks Barry Egan
You believe that this idea you have for a business is capable of being transformed into a company that can do business not only in Ireland but overseas as well. You want and need to do more research to give you the evidence and confidence to say ‘let’s go for it’. You would value getting a wide range of support, including salary support, to get your business off the ground, all of which is available through a new business incubation programme.
CROSS BORDER INCUBATION
Enterprise Ireland and Invest Northern Ireland recently launched a new cross-border business incubation programme: TRANSFORM – Ideas into Businesses. The programme is designed to provide ambitious entrepreneurs just like you in Northern Ireland and the six border counties of the Republic of Ireland with salary support, and the skills, expertise, contacts and networks to establish successful export-oriented knowledge-intensive businesses.
The intensive year-long business incubation programme which commences in September 2007 offers potential participants the opportunity to be part of an elite group of entrepreneurs.
SUPPORTS AVAILABLE
Forty places are available on the TRANSFORM – Ideas into Businesses programme. The programme is unique in that it offers eligible participants financial support of up to €38,000 or £26,000 towards their first year’s salary as they develop their new business. Furthermore it provides a tailored programme of practical business development modules including business planning, strategy, finance and corporate development.
The programme also offers participants intensive one-to-one mentoring with an experienced business advisor, one-to-one business development expertise to develop a robust and ambitious business plan, incubation space and key networking opportunities as well as an international market visit.
FACILITATING BUSINESS SUCCESS
Commenting on the programme, Brendan Flood, Manager Regions & Entrepreneurship Division, Enterprise Ireland said, “Enterprise Ireland is delighted to be working in partnership with Invest Northern Ireland on the Transform - Ideas into Businesses Programme. Entrepreneurship is flourishing on the island of Ireland and this intensive business incubation programme will provide ambitious entrepreneurs on both sides of the border with the best possible chance of success.”
Flood continued, “entrepreneurs will be assisted and challenged to develop strong start-up companies, with robust investor ready business plans. Both agencies look forward to working with the high potential growth companies that will emerge from the programme.”
ENCOURAGING GLOBAL TRADE
Ian Murphy, Invest NI’s Director of Clients and Entrepreneurship said, “a strong economy needs innovative, dynamic businesses that can trade globally. This new programme offers entrepreneurs the support they need to establish knowledge-intensive businesses that have a high potential for growth. By working in partnership with Enterprise Ireland through this new programme, Invest NI can provide strong support to entrepreneurs who have the vision and commitment to create world class businesses.”
Potential participants who wish to transform their idea into a business must locate their business in Northern Ireland or in one of the six border counties of the Republic of Ireland.
This programme is part financed by the European Union through the Special Programme for Peace and Reconciliation managed by the Special EU Programmes Body Under Peace II Priority and Measure 5.2 Improving Cross Border Public Sector Co-Operation.
Author: Barry Egan, Director, North West Region, Enterprise Ireland. A dedicated website for the programme is available. Interested parties should go to www.transformprogramme.com for further details of the programme. The website has an online application facility.
| TRANSFORM IDEAS INTO BUSINESSES PROGRAMME BENEFITS OF PARTICIPATION |
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There are a comprehensive range of supports including;
- Potential financial support of up to €38,000 or £26,000 towards first year salary
- High quality enterprise development training
- Incubation facilities including a hot desk
- Provision of a personal Mentor
- Provision of a business development specialist or consultant who will help develop a robust business plan for the proposed business. This can include accessing specialist expertise - on the island or globally - relevant to the business idea to enable the development of the plan
- Participation in an international market visit
- Access to potential investors including business angels and venture capitalists
- Access to both local and global contacts and networks
- Participation at cross border networking events
- Access to a Transform Programme Director who will help trouble shoot problems as they arise
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Published in the july/August 2007 Issue of Irish Entrepreneur
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