Company Survival Rates Exceed 70% Over 15 Years In Enterprise Programmes
Entrepreneurship programmes run by CIT have evolved since 1998, from the Graduate Enterprise Programme to the Genesis Programme, and more recently under the national brand of the New Frontiers Programme. The Rubicon Centre, which opened its doors in 2006 is now the country’s most successful innovation centre for high potential start-ups.
In the past 15 years, almost 250 companies have graduated from these programmes with graduate companies going on to create in excess of 2,500 jobs. These companies have also attracted over €100million in investment during this time, €0.75 million of which was raised in the past month alone. 70% of the companies that participated in the enterprise programmes run over the past 15 years are still trading. This figure is extremely high and bucks all international trends in relation to start-up survival rates.
Speaking at the event, CIT President, Dr. Brendan J. Murphy said, “CIT has been at the forefront in delivering full-time enterprise support programmes since 1998 and continues to be a standard bearer for enterprise support in the Munster region through the Rubicon Centre. I am delighted to mark the successes of our past programme participants and the contribution that these entrepreneurs have made to the economic development of this region and in many instances further afield. The statistics over the years demonstrate the value added nature of the enterprise activities that have been undertaken by the entrepreneurs that have completed CIT’s Programmes. The figures are testament to the vision, commitment and dedication of those that have taken the path less travelled and embarked upon what is an uncertain journey.”
Paul Healy, Manager, Rubicon Centre said, “It is hard to believe that CIT has been running these hugely important enterprise programmes now for 15 years. Although much has changed economically, what has remained constant is our commitment to supporting the entrepreneurs who pass through our doors each day. The Rubicon Centre is all about helping support Ireland’s next generation of high potential start-up ventures.
Tremendous credit is due to the sterling work of the entrepreneurs who pursued their dreams over the past 15 years and have since gone on to create over 2,500 jobs. These accelerator programmes that deliver practical hands-on assistance are having a profoundly positive impact in the early stages of development of these companies. I hope that 15 years hence we will have many more international success stories to applaud and celebrate in the region.”
