Entrepreneur to help students start up their own companies

STUDENTS at Cork Institute of Technology are to have access to a leading entrepreneur for advice on starting up their own companies.

The college has appointed management consultant Kieran Moynihan, up to recently one of IBM’s key global telecoms strategists, as its first entrepreneur in residence.

The Comnitel telecoms software company he helped set up just over a decade ago merged with others in the sector to form Vallent, which has annual revenues of more than €50 million and was bought by IBM in 2007.

His experience will now be available to CIT degree and postgraduate students as they seek inspiration to develop their own business ideas. Mr Moynihan said indigenous start-up companies will be a fundamental factor in driving Irish economic recovery.

“I have a very hands-on approach and want to make this very practical. The key areas will be the support of the overall commercialisation process in CIT, including reviewing current commercialisation and patent activity, as well as providing a friendly and accessible sounding board for students and staff to test start-up business ideas,” he said.

CIT president Dr Brendan Murphy said Mr Moynihan’s knowledge and experience will provide a role model for staff and students, as well as benefiting the wider regional economy by raising the bar in terms of entrepreneurship. His appointment is the latest of the institute’s initiatives to encourage entrepreneurship, which include an annual prize for innovation with a €10,000 prize fund and the introduction of an MBS in innovation and enterprise from September.

CIT’s Genesis programme which offers a year of supports for start-ups was runner-up at the European Enterprise Awards in Madrid in the category for promoting entrepreneurial spirit.


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