Angel Network eye up three new enterprise ideas

Financiers behind a €1m business start up investment project are presently evaluating three potential enterprises which could bring dozens of new jobs to Longford.

Financiers behind a €1m business start up investment project are presently evaluating three potential enterprises which could bring dozens of new jobs to Longford.

Organisers of the Longford Business Angel Network have met with “six to seven” likely entrepreneurs in recent weeks, prompting investors to “actively look at” three possible ventures, a spokesperson said this week.

The network, as first revealed by the Leader back in April, arose following a planned investment involving 20 businesspeople aligned to the Longford Business Network.

Under the plan, each stakeholder agreed to stump up €50,000 in a bid to kick-start the local economy by attracting promising start-up enterprises to the county.

Longford County Enterprise Board chief executive, Michael Nevin would not be drawn in terms of what types of prospective businesses were being examined or the number of jobs which could follow, but said significant progress had been made.

“We have met roughly seven different business promoters and three of those are being looked at. They are in different sectors, some of those are from outside County Longford that have the potential to bring investment and jobs into Longford,” he said.

Mr Nevin refused to dwell on the the fact the majority of business proposals put to the Angel Network came from outside the county.

Instead, the county enterprise board chief said the ambitious scheme demonstrated just how well the Angel Network was clearly attracting fresh and innovative ideas from budding entrepreneurs of the future.

“This is a long term proposal and is not something that will be achieved overnight,” he said, remarking that any future announcement over new investment may not be made until the end of 2011.

“It’s good to see we are appealing to people outside the county boundaries. I also know other counties are looking at it (Angel Network) as a model that could help entice new industries into their county,” he added.