Welcome to GEP
Home / About Us / FAQ

FAQ



What is the Genesis Enterprise Programme?

The Genesis Enterprise Programme is a one year rapid incubation programme designed to support the development of innovative knowledge based businesses by graduate entrepreneurs at the early stages of developing their business.

^Top

Who can apply?

If you can answer yes to all of these questions, then you should consider applying.
- Are you determined to start and grow a knowledge based, innovative business with export potential?
  • Will you be working on developing the business full-time?
  • Do you have a third level qualification (minimum level of a diploma)?
  • Do you have several years of experience in industry?
  • Will the business be based in the South West of Ireland?
Please note that eligibility does not of itself guarantee a place. There are a limited number of places. Offers are made to applicants following a competitive interview process.

^Top

Am I eligible?

The applicant to Genesis should be:
  • the commercial promoter of the business
  • have a third level qualification (diploma level of higher) and several years of industry experience. High calibre applicants with relevant experience who do not hold the necessary minimum education qualifications may be facilitated on the programme.
  • The main promoters should also have the ambition to scale the business and the entrepreneurial drive to build a successful business


^Top

What types of business will qualify?

Genesis supports businesses across a wide spectrum of sectors including Food, Information Technology, Biotech, Telecommunications, Renewable Energy, Medical Device and Automotive. The key criteria for the business are:
  • Be innovative and knowledge or technology based
  • Have growth potential in terms of export markets and employment creation
  • Demonstrate research or knowledge of the marketplace


^Top

Do I have to be a graduate of the partner institutions?

No, you do not have to be a graduate of the partner institutions but you must be a graduate of a Higher Education Authority recognised third level institution to National Diploma or Degree level. High calibre applicants with relevant experience who do not hold the necessary minimum education qualifications may be facilitated on the programme.

^Top

Are there Costs?

There are no fees to participate in the Genesis programme for successful applicants. The National Development Plan (2004-2006) fully funds the programme and its various supports including training and accommodation in the Incubation Centres.

Additional supports are also available through the Programme Partners (Enterprise Ireland, the Cork & Kerry Enterprise Boards, Cork Institute of Technology, University College Cork, Údarás Na Gaeltachta, Cork BIC).

However, Genesis participants need to fund the development of their product and sales capability until the business reaches a sustainable revenue stream and profitability. As such, promoters should give careful consideration to their financing capabilities, personal and otherwise.

^Top

How many places are available on the Programme?

At current funding levels, there will be up to 18 participants on the Programme during any one-year period. These places will be subject to strict assessment guidelines. The programme reserves the right not to fill all places.

^Top

Does Genesis support Teams?

Genesis regularly accommodates team based businesses but the programme is designed to support one person per business as the designated commercial promoter. Genesis will support team members in obtaining accommodation in the Incubation Centres and encourage participation in Genesis events, training & mentoring supports.

^Top

When does the next Programme commence & When should I apply?

The programme commences each spring and runs for 12 months. Click here for dates, details and to apply on-line for the next programme.

Anyone interested in applying for a place on the Genesis programme is encouraged to contact the Genesis Pogramme Manager at any stage during the year. The Programme Manager will meet you to confidentially discuss your business idea and its stage of development. You will be advised on preparatory work and supports that you can avail of in preparing to commercialise your idea prior to participating in the next Genesis programme and to enable optimization of your time on the Genesis programme.

^Top

How do I get Selected for Genesis?

The Programme is typically oversubscribed and there is a competitive process for gaining a place. Potential applicants are encouraged to make contact with the Genesis Programme Manager at any stage during the year.

Step 1: Submit Online Application Fill in the online application with brief profile of the business indicating the market research that has been undertaken http://www.gep.ie/apply/index.html

Step 2: Contact &/Informal consultation meeting with the Genesis Programme Manager as to suitability, next steps appropriate to stage of development, and advice in preparing for interview.

Step 3: Short listed candidates will be asked to submit the following to the Genesis Programme Manager for Interview

   a. Curriculum Vitae
   b. Business Plan/Mini Business Plan/Feasibility Study
   c. Powerpoint Presentation for Interview

Step 4: Genesis Interview

Step 5: Decision & Recommendations

^Top

Do I have to commit full-time to the programme?

Yes, all participants are expected to be working fulltime on developing their business and will not be in employment elsewhere. If you are in employment, you will have to cease prior to commencement. Participants are expected to commit to the programme including development & delivery of their business plan, submission of monthly reports and attendance at all training, events and reviews that are held.

^Top

What does Genesis require of Participants?

Genesis requires commitment and active participation by the Participant in the programme, specifically:
  • Attendance at scheduled training sessions, clinics and events to learn and develop the skills essential to developing a successful business.
  • Regular engagement with the Genesis Programme Manager and the designated Business Mentor to review progress informally.
  • Focus on the achievement of key business milestones with delivery of 2 periodic updates over the 12 months to the nominated progress review panel of the Genesis Steering Group.
  • To optimize guidance of participants progress, the timely submission of "deliverables" against the scheduled timetable to the Genesis Programme Manager, Business Mentor or Trainers. Key deliverables include monthly progress reports, an investor ready business plan, market research findings, marketing plans & sales pipeline, operations plan, business model & financial planning.


^Top

What is the structure of the programme?

During the course of the programme the entrepreneur concentrates on the development of his/her business, bringing it through the early trading stages.

There is a formal training element consisting of a series of classes, workshops and clinics providing essential information on marketing, finance and business planning. The hands-on development of the business is integrated with the workshops and training modules. These modules have a practical base and are designed with the needs of start-up businesses in mind. Additional topics covered include investment appraisal, financial management and negotiation skills.

Training accounts for approximately 30 days during the year. Training is interactive in nature with a great deal of emphasis on participation and feedback. In the first 3 months of the programme, all day training sessions are held for one day on a weekly/biweekly basis.

Thereafter, a one training/workshop day runs once a month with periodic 1:1 Clinics and events on specific issues such as Finance, Marketing, IT, Websites, H&S etc.

An individual mentor is assigned to each participant to help with the development of the business.

There are a number of review points over the course of the year when participants have the opportunity to get feedback from a panel of experienced business professionals.

The balance of the time is spent developing the business into trading mode.

At the end of the 12 month programme, the Genesis Showcase & Awards ceremony is held where participants exhibit and to which members of the media, business, support agencies and investment communities of South West Region are invited.

^Top

What happens when the Programme finishes?

At the conclusion of the programme, participants can continue to maintain contact with their peers and other entrepreneurs through the Genesis Entrepreneur Network and various events that it holds.

Past participants are welcome to meet the Programme Manager to discuss their business progress or issues.

Subject to availability, eligibility and development needs, participants may obtain accommodation in the Rubicon Centre, Cork and other partner incubation centres. Otherwise, participants source new premises for their venture.

^Top

Am I eligible for CORD Funding?

Acceptance onto Genesis allows participants to apply for CORD funding. CORD funding is a separate application procedure to Enterprise Ireland. Genesis will help you in your application and arrange your interview with Enterprise Ireland. However, the decision whether or not to award CORD funding is made entirely by Enterprise Ireland. Some participants are immediately eligible, others become eligible over the course of the programme while others still will not be eligible for CORD funding. Those applying to Enterprise Ireland for CORD funding should have an innovative idea with (at minimum) the following:
  • an innovative technology, which may have been supported under Enterprise Ireland's Technology Development Phase (click for more) or
  • be an unique application of an existing technology or
  • be an internationally traded service that can be developed into a High Potential Start Ups (click for more).
Further information is available from Enterprise Ireland's website or contact your local Enterprise Ireland office for further information.

^Top

May I attend the programme with or without CORD funding?

Yes, Enterprise Ireland CORD funding is in addition to the support already provided by the Genesis Enterprise Programme.

^Top

Confidentiality and Ownership

The Programme Manager, mentors, trainers and employees of the support agencies and partners associated with the programme are bound by confidentiality agreements.

Each participant is required to sign an agreement not to disclose details of other participants� business projects. This agreement also specifies that any intellectual property remains the property of the participant.