New Frontiers

WIT New Frontiers Success Stories - Pundit Arena

Since completing the New Frontiers programme in 2013, Pundit Arena has gone from strength to strength.  The company has raised €650,000 from angel investors that will see a doubling of its workforce.  Timing is everything, especially when scaling a start-up, and Pundit Arena has become the game changer in sports journalism.  The number of visitors to their site has grown from 300 users when it started to the now 1.4m monthly users and the team has expanded from just Richard and Ross, to nine staff with over 250 writers.  Ross O’Dwyer said this major investment would enable the company to double its staff to 20 people in the coming months.

Among the angel investors are Conor Mallaghan, owner of the Irish rugby team’s base, Carton House, and serial entrepreneur, Colm Lyon.  Mr Lyon, who sold his online business Realex Payments to US firm Global Payments for €115m last year and led the Pundit Arena investment round, said he sees huge potential for the company to grow in 2016.  “The team at Pundit Arena are outstanding and they have achieved enormous traction to date.  The global scalability, current adoption rates, and the highly talented team all combined to make this a very exciting investment for us. We are really looking forward to supporting the team as the business accelerates during 2016 and beyond,” he said.

Ross O’Dwyer is just one of many examples of success stories from past participants on the New Frontiers programme at WIT.  Following a period of intensive entrepreneurial training, Ross, with co-founder Richard Barrett established their start-up Pundit Arena in November 2013.  Cleverly titled, Pundit Arena is a crowd sourced sports media reporting business that is essentially democratising journalism by using sports pundits to generate content, not journalists.  Their tagline on Twitter says it all “Pundit Arena is changing sports media, come change it with us”.  

New Frontiers Programme at WIT

New Frontiers is for potential entrepreneurs who have a well thought-out innovative business idea or an innovative technology that has the potential to be developed into a scalable high potential start-up company. Applicants should have enthusiasm, confidence and single-mindedness about setting up and running your own business and should be committed to spending time on researching the market potential and launching a new business.

This intensive training and support programme provides desk space, mentoring, business master classes, networking plus €15,000 in financial support to accelerate business start-ups across the Southeast region.  The New Frontiers programme is now entering its fifth year and is ready to accept new applications.  Phase 1 of the programme will commence in Waterford in September 2018 on a part-time basis, with Phase 2 commencing in December 2018. 

1. What is the New Frontiers Programme?

2. Where is it based?

3. How will it work?

4. Who is eligible to Apply?

5. What supports are offered?

6. Duration of Programme

What is the New Frontiers Programme?

The New Frontiers Entrepreneur Development Programme is for people with new ideas who are starting scalable knowledge based businesses and have the potential to be transferred to Enterprise Ireland’s High Potential Start-up Unit. It is a structured programme that supports promoters to learn new skills critical at the start-up phase and guides them in the transition to successful self employment. Waterford Institute of Technology has been running the Entrepreneur Development Programme successfully for over sixteen years supporting companies such as Immersive VR Education www.immersivevreducation.com , Sonru www.sonru.com/, Stitcher ads, www.stitcherads.com/, Taoglas www.taoglas.com, Scurri www.scurri.com, Hybrid Energy www.hybrid.ie and Near Form www.nearform.com. The programme has in the past supported projects diverse as medical components/devices, social media, original food products and software.

Where is it based?

The New Frontiers Entrepreneur Development Programme is co-located at the ArcLabs Research and Innovation Centre in Waterford Institute of Technology and at the Enterprise and Research Incubation Centre (ERIC) in IT Carlow. Both Centres have strong track records of successfully providing a business incubation environment that supports entrepreneurial development and company growth. The partnership between the two Institutes provides an extensive support network for wider regional business development.

How will it work?

This three-phase programme will provide a professional practical support programme targeted at people who are in the early stages of setting up a technology-based or knowledge-intensive business. Training and support will be provided by experienced practitioners through a structured delivery and assessment process which will provide the required assistance and guidance for the development of commercially viable enterprises.
 

Who is eligible to Apply?

Applicants should be prospective entrepreneurs who have a well thought-out innovative business idea or technology that has the ability to be developed into a scalable high potential start-up company. Applicants should have enthusiasm, confidence and single-mindedness about setting up and running your own business. They should also be committed to spending time on researching the market potential and launching a business.  Ineligible businesses include consultancy, training or retail businesses as they would not be regarded as 'an innovative business idea or an innovative technology.

What supports are offered?

• Shared office accommodation in the Arclabs Research & Innovation Centre located at Waterford Institute of Technology or at the Enterprise & Research Incubation Centre located at the Institute of Technology Carlow

• Business advice

• Access to training and consultancy services of partner organisations

• Introduction to networks of mentors, venture capitalists and other support agencies

• Personal mentoring relevant to grow the enterprise or product development under the programme mentoring scheme delivered by experts in the field of business management and development

• Eligible to apply for Enterprise Ireland Support funding up to a maximum of €15,000 for participants who proceed to proceed Phase 2 of the programme (conditions apply)

Duration of Programme

The next Phase 1 programme of New Frontiers will commence in September 2018 at Waterford Institute of Technology and will be delivered one evening per week over an eight-week period.  The next Phase 2 programme will commence in December 2018 over a 6 month period. 

Mr. Eugene Crehan,   MBA BA PG Dip FIITD NCGE Fellow (Entrepreneurship Education)

Director of Programmes - Centre for Enterprise Development & Regional Economy

Arc Labs Research & Innovation Centre, West Campus, Carriganore, WATERFORD

T: 051 – 302953         E: [email protected]      @newfrontiersse      @WITEntrepreneur 

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