THE top 40 start-up applicants for this year’s Invest Northern Ireland Propel Programme have been selected and are starting work in the first phase of the support programme.
The scheme is designed to fast-track export focused business ideas with high growth potential, led by entrepreneurs who have the ambition, passion and energy to succeed on a global stage.
Over the past five years the programme is credited with assisting over 120 companies and creating over 390 new jobs between them.
The latest programme attracted almost 130 applications from across Northern Ireland and over the next two months, the successful group of entrepreneurs will attend a series of intensive workshops to develop and validate their core business ideas.
After this initial stage and following a further competitive process, around 50% of the candidates from Phase One of the programme will progress on to the second phase, starting in March 2016.
The second stage will take place over 10 months, giving participants the chance to work on an accelerated development plan, experience one-to-one expert mentoring and attend workshops aimed at making their business idea investor ready.
Each entrepreneur will also gain access to new shared office workspace in Belfast’s Cathedral Quarter and up to £20,000 worth of financial support.
Speaking about the current intake Niall Casey, Invest NI’s director of skills and strategy, said: “We continue to be impressed by the level and calibre of applications received for the Propel Programme, an indication that entrepreneurial talent is very much alive and well in Northern Ireland.
“We now look forward to working with the top 40 applicants and helping them to bring their dynamic and innovative ideas to the next level. While only half will ultimately make it through to the next stage of this year’s programme we know from feedback that all participants can gain from the process as it helps them validate their business proposition.”