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The future of Irish entrepreneurship seems safe as students from a business degree programme at Waterford Institute of Technology have gone it alone since December last by setting up their own businesses as part of their third year in college.

A novel approach allows the students from the Bachelor of Business Studies (Hons) to get credit for their work on the start-up enterprises which they establish with support from experienced mentors.

Since late last year, Catriona McIlhinney and Daniel Nugent, Tramore, Co Waterford; Barry Kavanagh and Patrick Kennedy, Waterford; Cyril Thorpe and Padraig Kenny, Enniscorthy, Co Wexford; Shane Rochford and Ian Somers, Slieverue, Co Kilkenny and William Cronin, Doneraile, Cork have taken time out from lectures to lead new ventures.

The start-up businesses formed by the students included t-shirt and hoodie clothing companies; a ‘grind school’ for secondary school students; a discount brochure aimed at college students and an online gaming website.

According to coordinator, Dr Clare Gately, “The students really grasp the opportunity to make bold strides in setting up their businesses and benefit hugely from the real world experience it provides. Apart from the additional business skills they learn by doing, there is also a measurable positive impact in terms of their self-confidence and personal development.”

During the semester they spend working full-time on their businesses, the students are given access to offices in the ArcLabs centre at WIT’s West Campus.

The New Venture Initiative is supported by the South East Business Innovation Centre (SEBIC) and TalkTalk.

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