LIT scheme fosters start-ups

AS PRIVATE sector jobs come under increasing threat, Limerick Institute of Technology (LIT) yesterday offered hope on the employment horizon when it helped launch 10 new ventures.

The projects were formulated by budding entrepreneurs who have just completed a 12-month Leap programme.

Each received €30,000 funding from Enterprise Ireland to help steer their projects to fruition.

The Leap programme was set up by LIT’s Enterprise Acceleration Centre.

Centre manager Donncha Hughes said that the development of an investor-ready business plan by each company is one critical measure of the success of the programme.

He said: “The first objective is for each of the 10 participants to prepare an investor-ready business plan by April 1 last while the second objective was for each business to deliver initial sales in order to provide a platform for the future of each business.”

Last night, the business plans by the 10 budding entrepreneurs were put on display at an exhibition at LIT.

Mr Hughes said: “Our Leap programme showcases the vibrant business start-up culture that has been created in our centre here at LIT. 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.”