The Acorns business development programme for female entrepreneurs has helped increase revenue for its 550 participants by almost €10 million during their participation, new research has found.
The study found revenues among those on the programme, which is a free initiative aimed at early-stage female entrepreneurs in rural areas, rose by more than 50 per cent on average while they participated in the six-month programme.
Acorns (Accelerating the Creation of Rural Nascent Start-ups), which is now accepting applications for its 11th cycle, is funded through the Rural Innovation and Development Fund by the Department of Agriculture, Food, and the Marine (DAFM).
The analysis, which was carried out by researchers at Dublin City University (DCU) Business School, found combined end-of-cycle revenues for 550 participants in the programme were €29 million, an increase of €9.8 million across the 10 cycles.
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Meanwhile, aggregate employment rose from 822 to 1,023, and 29 per cent of participants said they had exporting experience following their participation in Acorns.
“While female entrepreneurs in rural areas face challenges in starting and growing new businesses, the women that have completed Acorns report that participation has had a transformative impact for them and for their businesses,” said Professor Colm O’Gorman, co-author of the DCU study.
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“They speak of a sense of solidarity that develops through the round table interactions, through sharing business challenges, successes and setbacks, and through participation with the broader Acorns community.”
Paula Fitzsimons, director of Acorns, said the research highlighted the positive impact that the programme has had for past participants across revenue, employment, and growth into new markets.
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“That Acorns has helped female entrepreneurs from rural Ireland increase their collective revenue by €9.75 million since our pilot programme in 2014 is testament to the quality of the programme, its participants and its lead entrepreneurs,” she said.
“We hope to continue the trends in revenue and employment with Acorns 11 and look forward to receiving applications from the next group of early-stage female entrepreneurs.”
The next round of Acorns begins in October 2025 and runs until April 2026. As part of the programme, participants will take part in six monthly round table sessions, a briefing by various development agencies and an end-of-cycle celebration. The voluntary lead entrepreneurs for the year include Polar Ice’s Alison Ritchie, Caroline Reidy from the HR Suite and Geraldine Jones of Skin Formulas.
Entries for the 11th round of Acorns close on September 22nd.
