Former SEEPP participant Sonru wins national final of Bank of Ireland’s Bright Ideas Challenge  - Interest free loan of €100,000 and mentoring
On the 5^th March 2010, Bank of Ireland announced Sonru as the winner of the national final of its ‘Bright Ideas Challenge’ competition, held in the House of Lords, College Green in Dublin.  Edward Hendrick completed the South East Enterprise Platform Programme (SEEPP) programme in 2008 and has maintained close links with the programme and WIT.  Sonru created a web based tool for remote interviewing competed with three other SMEs to win mentoring supplied by a judge of the event Sean Gallagher, entrepreneur and Dragon on Bank of Ireland’s sponsored Dragons’ Den series and an interest free loan of €100,000 from Kernel Capital.

The ‘Bright Ideas Challenge’ was sponsored by Bank of Ireland, and held in association with Kernel Capital and the Business Innovation Centres.  It’s main aim to encourage and support both innovation and enterprise in business start-ups in the early stages of developing their business.  Sonru was the winner of the South-East regional final of the competition held in 2009 and received a prize of €5,000 from the Bank, along with a mentoring and training package from SEBIC (South East Business and Innovation Centre) valued at an additional €5,000. The €100,000 interest free five year loan is from the Bank of Ireland Seed and Early Stage Equity Fund, which is managed on behalf of Bank of Ireland by Kernel Capital.

Based in Enniscorthy Enterprise and Technology Centre, the company was formed in 2007 by Edward Henrick along with the company’s CEO Fergal O’Byrne.  Sonru, whose name comes from the Irish phrase ‘BÍ le sonru’ meaning ‘to stand out’, supplies an on-line video tool which can be used for conducting remote interviews or assisting job hunters to prepare for interviews. Using the system the interviewer and interviewee do not need to be on-line at the same time, thus providing convenience and time-saving elements for any user.  The video tool has applications within the recruitment, education and customer relationship management (CRM) sectors.

Dr. Daniel McCaughan, Chief Technology Advisor (ICT), Kernel Capital said: "In these difficult economic times the ability to sift in recruitment through a thorough on-line video interview process, which is proven to be satisfactory to both interviewer and interviewee, is a valuable contribution to cost and time savings. Sonru has a very strong management team, excellent client validation and a highly scaleable product amenable to an international client base. We expect to see significant market growth in the future".

Congratulations to Ed and the team at Sonru from all of the SEEPP team!

Ex SEEPP participants, MIT Education Solutions, who now have over 50 customers using their technologies throughout Ireland and Europe, have successfully completed a rollout of their online enrolment, online payment, and admissions management solution to all schools and colleges in Co. Meath VEC.

The system allows adult students to apply and pay for evening classes online using the MIT eNROL system, and manages the entire admissions process for the colleges.

Seamus Ryan, Education Officer in Meath VEC said:

“The system (eNROL) has revolutionised the way we do our business, made it simpler for students to apply and pay,  and made it easier for us to manage our application and payment processes. The system provides class lists, enrolment statistics, financial reporting and reconciliation features, and provides us with an invaluable information management tool.”

Other customers of MIT Education Solutions include City of Cork VEC, Co. Carlow VEC, Co. Wicklow VEC, Co. Dublin VEC, City of Waterford VEC.

If you would further information please contact MIT at 051 357996 or info@mit.ie

The management and staff are currently interested in hearing from people with new business ideas who are starting scalable knowledge based businesses. Interviews will be held in June / July. One delegate from a qualifying company/start-up can apply for a position on SEEPP. The time commitment is one day per week (Mondays) from September 2010 until early July 2011.

This year long programme offers a wide range of supports to innovative start-up companies in the South East including:

• Comprehensive Business Management and Development training, leading to a fully-accredited Post Graduate Diploma in Enterprise Development
• Incubation Facilities in Arc Labs,  the WIT Research & Innovation Centre - dedicated desk space, desktop PC, VoIP telephony, meeting and videoconferencing facilities - all provided free of charge to qualifying participants
• Business Mentoring - experience mentor assigned to each participant for duration of the programme
• Business Networking - opportunities to meet and network with like-minded entrepreneurs, successful businesspeople, state agencies etc
• Financial Support - Participants are also eligible to apply to Enterprise Ireland for CORD funding, which allows participants claim up to 50% of their previous years salary (subject to a maximum of EUR30,000) There is no guarantee that CORD funding will be awarded to successful SEEPP applicants as CORD is administered by Enterprise Ireland and is subject to a separate application and interview process.

Applicants should ideally have:

• An innovative, well-thought out business idea or technology, with export potential and the ability to scale up relatively quickly. For example software development, e-learning, new media/entertainment, food, engineering, manufacturing, environmental/waste management, energy, medical devices, pharmaceuticals.
• Third-level education (minimum Diploma) - APEL may be considered here.
• High level of practical experience gained from working in a relevant professional environment
• The time commitment to setting up their business
• Intend to set up and register a business - ideally in the South East region. 

BUDDING entrepreneurs are being inspired by the successful business people of the past through a new site which celebrates innovation and success in the South-East region across several generations.

Business mentors at the Centre for Enterprise Development and Regional Economy (CEDRE) at Waterford Institute of Technology, have developed the www.southeaststories.blogspot.comsite which traces the roots of the bacon, ship-building, brewing and other key industries in the region.

The site also profiles the counties of the South-East and has a host of links to agencies and groups which support enterprise and job creation in the region.

It is fitting that, on the week we celebrate the 40^th Anniversary of the first man walking on the moon, we look back at some of our own South-East innovators and pioneers who contributed so much to the region, to Ireland and the rest of the World, according to CEDRE’s David Coffey.

“The South-East region has produced some truly enterprising and innovative people who made an enormous contribution to all walks of life. Although many of these people made a huge difference to the world around them, their contributions have not been highlighted enough.

“The aim of this site is to bring to light the many Stories and Tales of an Enterprising Place – the South-East and show appreciation and admiration for those who stepped up and made a difference. Among those we have already featured are the Jacobs, Dennys,  Walton, Ryan, Brophy, Malcolmson, Penrose, Boyle and Magnier.

“But these are just some of the more famous names that have shaped the landscape of the South-East. There are many more. We want to promote the rich enterprising history of the South-East; remember those who made a difference and hopefully encourage visitors to the site to be more enterprising and innovative in their own lives.

“We hope that those with information about the rich entrepreneurial heritage of the South-East region will share their stories on the site. We’ve already got articles about the bacon, ship building and brewing industry, but we want much more. We want to create an online museum, one which celebrates the great South-East innovators of the past and also supports and encourages pioneers of the future.

“Those in business or thinking of starting up businesses in the region will find a host of links to other key sites, such as the various chambers of commerce in the region, county councils, enterprise boards etc. We hope the success stories of the past will spur today’s entrepreneurs to emulate their amazing feats,” Mr. Coffey added.

The EI Society has been established at Waterford institute of Technology to support students with innovative ideas, creative minds, and entrepreneurial aspirations. At present the society is based in WIT’s Research and Innovation Centre and is supported by the Centre for Enterprise Development and Regional Economy (CEDRE), under the guidance of Dr. Bill O’Gorman. The recent economic downturn has emphasised the need for regions, such as the South East, to create more home grown entrepreneurs. To do this, an entrepreneurial mindset needs to be cultivated in people as early as possible.

The EI Society will help transform the South East into a more enterprising region by encouraging students to think about self-employment, stimulating new student business and bridging the gap between enterprise support agencies and the student body. The society includes an eclectic mix of students from the main WIT campus, Carriganore campus and College Street Campus. As such, members are currently studying a variety of subjects ranging from music, to psychiatric nursing, to architecture, and of course business.

The EI Society website will offer students a platform to showcase their innovativeness and entrepreneurialism. It will also act as a hub for all news and events on campus and will contain a ‘mini ebay’ section for students of the institute. As such, www.eisociety.ie will become a melting pot for enterprise, creativity and action at WIT.

The society will officially launch next September with the site going live at the same time. Plans are already in place for a number of enterprise related events. So, hopefully the next crop of innovative South-East entrepreneurs are not too far away.