Enterprise Ireland has launched a development programme for companies in the software and technology sectors.

The Leadership 4 Growth programme seeks to foster development of world-class Irish firms by enhancing its participants' leadership and strategic capabilities.

It was conceived with the Irish Software Association and Stanford Graduate School of Business. Sixty-five chief executives applied, but Enterprise Ireland accepted only 31.

"Leadership 4 Growth . . . provides an excellent opportunity for ambitious Irish chief executives to benefit from Stanford's world-class business faculty," said Enterprise Ireland chief Frank Ryan.

Participants will take part in three week-long residential modules in the Californiauniversity.

"Stanford is right in the middle of Silicon Valley," said Dublin-based Mapflow chief executive Richard Bryce, a programme participant. "If we're looking for role models, peers and people to benchmark our ambition against, I can't think of a more decent place in the world."

Participants were chosen on the basis of their company's revenue growth, stage of development and market potential of its industry, according to an Enterprise Ireland official. Enterprise Ireland hopes the venture will become an annual programme.

"It's easy to talk about how we need to develop more leadership skills for our companies, but I think it's another thing to actually put it in place and make it happen," Mr Bryce said.

Prof George Foster, programme faculty director at Stanford Graduate School of Business,said: "We at Stanford are excited to be a part of such an important initiative for the Irish economy and for the software industry."