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 the business
The first phase will be part-time
(online in 2020) over a 4-6 week period and will help you to validate the market potential of your business idea. These workshops will provide information and general start-up training, allowing you to tease out your idea’s feasibility 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 who 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 6 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. Phase 2 training will be delivered during working hours.
You must be available for full-time participation. To facilitate this, you will receive up to €15,000 in scholarship funding subject to satisfactory development reviews.
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, business’s 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.