New start-ups enter NDRC Launchpad programme

Trade

4 April 2012

Fifteen promising start-up ventures, selected from a competitive field of over 70 Irish and international applicants, have started into NDRC’s Launchpad accelerator programme.  NDRC’s Launchpad investment programme will culminate in May with a competition for a follow-on investment sourced from venture capitalists and angel investors.  NDRC is investing up to €20,000 in each start-up to support the founders during the programme.

The start-ups include businesses with diverse applications for digital technology ranging from medical training simulators to music analytics systems and apps for people with eating disorders.  Projects include cloud based customer service applications and systems for learning management, car sharing, urban planning and restaurant management.  Other concepts include a social media strategy tool, children’s travel review site, education management tools and pharmacy management software.

Following the competitive selection process, NDRC Launchpad participants have started a three month intensive mentoring and advisory programme alongside other start-ups, innovators, engineers and investors.  At the end of this period, the start-up promoters will pitch for follow-on investment.

Speaking at today’s launch, Minister for Jobs, Enterprise & Innovation Richard Bruton (pictured) said: "If we are to create an economy that can sustain the number of jobs we need, we must not only seek to attract the next Google or Microsoft to Ireland, but also to create the next Google or Microsoft here in Ireland. A key part of this Government’s plan for jobs and growth is creating a powerful engine of indigenous enterprise, and high tech start-ups will play a crucial role in this.

"Today’s announcement that 15 ambitious start-ups will receive a total of up to €300,000 from the NDRC is great news, and the quality of the people and the businesses involved is enormously encouraging. This Government is determined to support initiatives like this in every way possible, and through continued implementation of the Action Plan for Jobs we will ensure that dynamic start-ups like these can help drive a sustainable recovery in our economy".
NDRC Launchpad Director Gary Leyden said: “These are new ventures headed by talented entrepreneurs with very innovative ideas.  Their future success depends on the ability to convert their projects from ideas into income, creating scalable business models and this is where NDRC has the expertise and experience to actively support them. A priority for NDRC will be to prepare and bring these start-ups to the attention of the investment community to create further value and opportunity.”

Last year, NDRC Launchpad was identified in the top six best accelerators in Europe following a study by the US Kaufman Fellows Programme.  NDRC has supported the acceleration of over 60 new start-ups through its investment programmes since it was established in 2008.

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