NDRC ventures raise €40m in 2013
13 January 2014 | 0
The National Digital Research Centre (NDRC) has announced it has surpassed its projected results for 2013. In its end of year trading update for 2013, NDRC’s portfolio of start-up ventures secured €40 million in commercial follow-on investment from angel and venture capital investors, and have an estimated combined market capitalisation of €120 million.
NDRC was recently ranked as the top university business incubator (UBI) for IT in the world by UBI Index.
Companies in NDRC’s portfolio to date include music discovery app Soundwave; log management and analysis software company LogEntries; online therapeutic solutions provider SilverCloud Health; and FieldAware, a field service management solution for small and medium sized service businesses.
Commenting on the results, NDRC CEO Ben Hurley said: “…NDRC has a three-point plan for 2014: continue our early stage investing through our established investment programmes; introduce a number of targeted initiatives for start-up founders to complement these programmes; and – recognising the evolving innovation ecosystem – explore new ways of addressing gaps within the early stage venturing ‘valley of death’.”
Building on existing investment programmes, NDRC will run two investment programmes: technology accelerator NDRC LaunchPad and VentureLab, Europe’s first venture accelerator dedicated to science commercialisation.
NDRC will also introduce a number of specific initiatives for very early stage technology ideas in 2014, including a domain-focused ‘FinTech’ (financial technologies) start-up initiative and a female entrepreneurship initiative.