1st June 2009

Enterprise Acceleration Centre (EAC) announces Business Plan Competition for LEAP 2008 Participants

The EAC, Limerick Institute of Technology’s on campus business incubation facility is delighted to announce details of the LEAP Showcase Exhibition 2009 which takes place on Monday 8th June 2009 to mark the end of this year’s LEAP programme. The highlight of the evening will be the presentation of the 2nd annual Enterprise Acceleration Centre Business Plan Competition Awards which recognises the achievements of three LEAP programme companies with a prize fund of €10,000.

Graham Royce, LEAP Programme Manager said the development of an investor ready business plan by each company is a critical measure in the success of the programme. He added, “The participants of the LEAP programme are required to work on two broad milestones during the 12 months. The first is for each of the participants to prepare an investor ready business plan prior to year end; while the second objective is for each business to deliver initial sales in order to provide a platform for the future of each business. These participants were invited to submit a business plan by 15th May. The plans were then forwarded to the members of the Selection Panel who will meet with the promoters on the 8th June in order to decide on the Award winners.”

Donncha Hughes, EAC Manager, said LIT is delighted to welcome back all the organisations in the Mid-West who contribute to the success of the LEAP programme for the LEAP showcase exhibition to be held in the evening on 8th June, “The Enterprise Acceleration Centre has invited LIT staff members, representatives of Enterprise Ireland, the Enterprise Boards and all the trainers, mentors and advisors who have worked with our LEAP programme 2008 participants to make our second year a superb success. On the night, all programme participants will make a 3 minute elevator pitch outlining the key focus of their business and their ambitions for their business following the year long business development programme. And in a new departure for the programme, the pitches will be edited for upload to the web as the first activity in a new partnership between the LEAP programme and www.smallbusinesscan.com”

The companies who participated in the 2008 programme operate across a range of sectors:  high tech software applications, telecoms, children’s books, sports products, online logistics, and more. The networking reception is kindly sponsored by Enterprise Ireland, Carey & Associates and CPL.

-END-

Notes to Editor

Further information on the LEAP programme is available online at www.leap.ie including profiles of 2008 Participants.

How much is the prize fund?

There are three emerging new business awards sponsored by the Enterprise Acceleration Centre to a total value of €10,000:

• 1st – Best funding proposal - €5,000
• 2nd – Innovation & Market Entry - €3,000
• 3rd – Best business plan - €2,000

The Judges

The panel comprises experienced business people with enterprise start up and financial expertise and experience.

• Fergal Barry, Limerick Institute of Technology
• David Cronin, Former Director, Qumas
• Alan Costello, Ruby Consulting
• Frank Walsh, Enteprise Equity
• Drew O'Sullivan, 4th Level Ventures (Chairperson)

The Enterprise Acceleration Centre would like to acknowledge and thank all our training providers for their assistance in the delivery of the LEAP 2008 programme.

The LEAP Programme would also like to particularly thank the regional office of Enterprise Ireland, and the Enterprise Boards in the Mid-West region for their ongoing support. In addition to financial supports such as CORD and employment grants, the advice and mentoring support provided to individual businesses is hugely valued.

 LIT would like to acknowledge the support of Enterprise Ireland, CPL and Carey & Associates who are kindly sponsoring our networking reception.

www.smallbusinesscan.com

is a practical resource for the business community in Ireland that was launched early in 2009. The site contains a huge databank of information and articles on all aspects of business. The information is sorted by four key subject areas Marketing and Sales, Management, Money and Motivation and also by stage of development of the company or business. The site also offers business people the opportunity to ask questions and share learning on a real-time basis.