ENDEAVOUR

Project information

Index: 0279R1
Acronym:MITKE
Priority:1: Innovation and the knowledge economy
Sub Theme:Entrepreneurship and SMEs
Location IRELAND IRELAND County Kerry Border, Midland and Western Start/End date of the practice
Start: 2009-11-01
End: On-going

Topic of the practice

Endeavour is an intensive seven month fast-track programme for new technology start-ups, with significant involvement by internationally successful Entrepreneurs

Good Practice Information

Enfeavour is targeted at ambitious, high achievers who are totally focused on changing the business space they are about to enter. They need not necessarily have been in business up to now, but will have proven themselves as achievers in their career or some other aspect of their lives.
The objectives of Endeavour are:
• Significantly increase the number of technology start-ups each year
• Brand Kerry Technology Park as a Centre of Excellence for Entrepreneurship - in conjunction with other initiatives e.g. the Young Entrepreneur Programme, and the existing successful track record of the Park in producing very successful start-upsThe Endeavour Programme www.endeavour.biz is about giving new entrepreneurs the opportunity to fast-track their dreams by learning from the best in a proven environment totally focussed on bringing businesses all the way from concept to reality. Participants are immersed in a business and academic environment for seven months, engaging and networking with their peers, other business start-ups, global entrepreneurs located in Kerry Technology Park and the staff and students of the Institute of Technology, Tralee. They receive one-to-one support from Ireland’s top entrepreneurs and learn from some of Ireland’s leading professionals in Finance, Legal, HR, Marketing and Technology. Endeavouree’s business plans are reality-checked on a regular basis though business stress-test panels – where participants assumptions and business models are rigorously challenged by a team of experienced entrepreneurs.
Timescale: 7 month programme, repeated on a 12-18 month cycle
Key Partners Involved:
• Shannon Development (owners of Kerry Tech Park)
• Institute of Technology Tralee
• Jerry Kennelly (Entrepreneur)
Other Bodies involved include Enterprise Ireland, Media Partners, Local and National Entrepreneurs
Legal Framework: KTP – ITT Operating Agreement
Financial Framework:
• Many of the private sector services are provided free of charge
• The programme receives funding from Higher Education Authority
• Enterprise Ireland provides grant funding to individual participants subject to meeting eligibility criteria.

Evidence of success

The first Endeavour Programme (November 2009 - June 2010) generated 13 new start-up businesses. By January of this year these start-ups had a combibned valuation of €10m and were employing 35 people, These companies are expected to expand significantly in the coming year. The second Endeavour Programme is currently underway, initial outputs from the second programme will be available in December 2011.

Contact details to obtain further information on the practice

Breda O’Dwyer

Programme Manager Endeavour

breda.odwyer@ittralee.ie

www.endeavour.biz

Annex completed on: 03-01-2011

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