Entrepreneurs target €4m investment and 50 new jobs

Entrepreneurs target €4m investment and 50 new jobs

THIRTEEN entrepreneurs who took part in a national programme at IT Tallaght last May are targeting over €4m in follow-up investment with an additional 50 jobs.

The new jobs are expected over the next 18 months, with hopes of further job creation two or three years down the line.

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The Synergy Innovation Centre in IT Tallaght hosted the Enterprise Ireland New Frontiers programme last May. The entrepreneurs then showcased their start-ups to business investors at the centre on November 16.

The 13 businesses address significant problems and opportunities in a broad range of sectors, including software, electronics, life sciences and food and beverages.

“ITT and Synergy Centre are strengthening our position as the leading hub for knowledge-intensive innovation in South County Dublin. Enterprise Ireland’s New Frontiers programme has been a fantastic support for our participating companies where we aim to continue expanding our programmes.

“This includes plans to increase the numbers of contracts we have with industry for our research facilities and technology solutions, while also growing the engagement of our undergraduates and postgraduates in entrepreneurship development programmes,” said IT Tallaght President Thomas Stone.

For some of the entrepreneurs, the fundraising has already kicked off with nearly €700,000 brought in to date. Two awards were also presented at the showcase event.

Andrew Farrell won the Phillip Lee sponsored InvestStart award for his residential multi-unit communications platform Block Angel. The AIB Supporting Start Ups award was presented to Oisin Lennon for his gait analysis product, Danu Sport.

New Frontiers is Ireland’s national entrepreneur development programme, delivered at local level by Institutes of Technology and funded by Enterprise Ireland.

Many participants and funding agencies have cited the structured supports of the programme as a critical factor in improving start-up enterprise success rates.