Monday, 3rd March 2008

LEAP in 2008: turn your business vision into reality

Following a recent meeting of the Enterprise Acceleration (EAC) Centre Advisory Board, Graham Royce, Manager of the Limerick Enterprise Acceleration Platform (LEAP) programme is pleased to announce that following a very successful pilot year, Limerick Institute of Technology (LIT) has received funding to continue LEAP programmes’ endeavours in 2008 and is now gearing-up for its second intake of entrepreneurs. This year’s closing date for applications is Monday, 10th March and the programme will commence in late April.

Graham said: “LEAP is a tailor made programme designed to support entrepreneurs in our community in their quest to establish growth oriented companies which deliver innovative products and services to their niche market. Having been involved for a number of years with the Genesis programme in Cork, I was very excited about being centrally involved in the delivery of the first year of LEAP in the EAC.”

He adds, “Last February we recruited eleven individuals who we identified as having ambition and drive to set-up their own business. In April 2007, the LEAP participants took-up residence, free of charge, in the EAC, LIT’s on campus incubator. These entrepreneurs began a full time twelve-month programme that integrated a range of support focused on strategic planning and practical business set-up which includes: management training, business coaching, mentoring and consultancy. A year later, it is fantastic to see the progress that these early stage entrepreneurs have made with their respective businesses. Without a doubt, LEAP offers twelve months of unparalleled support for entrepreneurs at such a critical stage in their business’ career. We are anticipating strong demand for the programme this year and we are delighted to have Tipperary, Limerick and Clare based role models for the 2008 group.”  

Gary Carroll, Chairman of the EAC Advisory Board, declared that LEAP showcases the vibrant business start-up culture that has been created in the EAC. The programme is critical to creating a pipeline of clients and will undoubtedly have a positive economic impact over the long-term in the Mid West Region. Carroll, formerly of Blackbird Data Systems, is a client of the EAC with his new venture EpiSensor which was recently recognised as a High Potential Start Up (HPSU) by Enterprise Ireland.

Of the programme, Gary said: “Given the significant investment by Enterprise Ireland in business incubation facilities across Ireland, support provided by programmes, such as LEAP, are essential to deliver value for the Irish economy by assisting start-up companies to develop and grow. There is great credit due to all the participants for turning an initial idea from the conceptual stage into an operating enterprise. The majority of the companies have commenced trading and seven of the companies were awarded CORD funding of up to €38,000 each by Enterprise Ireland to undertake development work highlighting the international potential of their businesses.”  He adds, “A key measure of success is the ability of these new start-ups to win the sales that will make their businesses profitable. Over the longer term, this will create the platform for job creation in our region.”

LEAP is an intensive year-long programme designed to facilitate high calibre candidates who possess enthusiasm, confidence and determination and who wish to commit full-time to establishing their business.

We are asking entrepreneurs who have an innovative idea for a product, technology or service, with growth potential, to apply for LEAP if they are prepared to spend twelve-months on a dedicated programme designed to support and challenge them to develop an investor ready business plan and build a sustainable, profitable business.

The 2007 programme attracted superb promoters and teams operating across a range of sectors:  high tech software applications ranging from automotive design, scheduling, calibration management, social networking; service businesses ranging from training for medical device companies, to creative design services; and specialty food consumer products.

Mr Royce concluded: “When we make our decision to offer a place on the programme we are really looking at the individual.  Our first year has highlighted that the final product or service offered to customers can change significantly from the initial idea. As such it is the ability of the business promoter to handle change and to learn, to adapt and to keep moving forward is critical to business success.”

Candidates will need to apply no later than Friday, 10th March 2008. Shortlisted candidates will be interviewed before the end of March. The application form and full details are available at www.lit.ie/leap.” 

Graham Royce, LEAP programme manager and Donncha Hughes, EAC Manager are available to meet with prospective candidates for a confidential chat about their business ideas.