Businessman Gavin Duffy has announced a potential run for president.
The Dragons' Den entrepreneur is seeking the backing of four local councils before he can enter his name on the ballot paper.
He has accepted an invitation to speak at Waterford City and County Council on Tuesday.
"If I get the required four council nominations, I will run the most modern, dynamic, interactive election campaign possible," he said.
"If you want to be on the rollercoaster, make history, elect a president that is not just above but is not of politics."
Michael D Higgins will be running against a Sinn Féin candidate to be announced in September, six weeks before Ireland goes to the polls.
While Fine Gael, Fianna Fáil and Labour have all backed the current president, a number of others have expressed an interest in running for the presidency.
Senator Gerard Craughwell indicated his interest, saying it was important that an election would take place, but he withdrew from the campaign.
Another possible candidate was former GAA president Liam O'Neill but he also ruled himself out, saying he did not have the logistical group to support a campaign.
Independent senators Pádraig Ó Céidigh and Joan Freeman have also expressed an interest in contesting the election.
