Digital start-ups begin NDRC accelerator programme
11 September 2019 | 0
NDRC at ArcLabs has welcomed six new, innovative start-ups to its South East accelerator programme. The new cohort of companies come from a range of sectors including big data, education and leisure. This is the second programme of three planned for the region.
NDRC will invest €75,000 into each digital start-up and support their progression towards the next stage of investment.
With the help of its partners, the Waterford Institute of Technology (WIT), Galway City Innovation District and Enterprise Ireland, the NDRC brought this model to the South East and West of Ireland in 2017. It currently runs programmes in Dublin, Galway and Waterford, and provides support for similar activities in Oman.
Based in ArcLabs, WIT, the initiative is part of Enterprise Ireland’s overall strategy to increase the number and quality of start-ups with the potential to employ upwards of 10 people and to achieve €1 million in export sales within three years.
“For this cohort, the hard work is only beginning,” said Gary Leyden, commercial director, NDRC. “These entrepreneurs are heading into a crucial time of business development, customer discovery and ultimately scale. What comes out of it, in three months’ time and beyond, is what we are all excited by.
“The success of our acceleration activities is exemplified by what our portfolio achieves. Last year, exciting businesses such as LiveCosts and Property Bridges secured pre-seed investment and benefitted from NDRC at ArcLabs, with the former securing the offer of further investment and the latter excelling in delivering several major development projects across Ireland already.”
Martin Corkery, regional director, South & South East Regions, Enterprise Ireland said: “Our partnership programme with NDRC at ArcLabs is an essential element of our campaign to promote entrepreneurship in the South East region.
“Enterprise Ireland is, as always, committed to nurturing and promoting the innovative business ideas that are being developed in regions nationwide, be it through the funding or the advisory schemes we provide.”
Other investors and supporters of NDRC at ArcLabs, include Sure Valley Ventures, Bank of Ireland Seed and Early Stage Equity Fund, Bord Gáis Energy in partnership with Centrica Innovations, South East BIC, and Local Authorities of Carlow, Kilkenny, Waterford and Wexford, Local Enterprise Offices and Enterprise Centres.
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