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 over an 8-10 week period and will help you to validate the market potential of your business idea. These weekend and evening workshops will provide information and general start-up training, allowing you to tease out the feasibility of your business idea 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 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 six 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.
You must be available for full-time participation. To facilitate this, you will receive up to €15,000 in funding subject to satisfactory development reviews (*income tax liability will be the sole responsibility of the participant, and individuals are encouraged to seek professional advice on this).
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, businesses 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.