Seven start-ups ranging from fintech, e-commerce to media and recruitment have entered the second NDRC at PorterShed programme.
A partnership between NDRC and the Galway City Innovation District and co-funded by Enterprise Ireland, NDRC at PorterShed is a key part of Enterprise Ireland’s overall strategy for increasing the number and quality of start-ups that have the potential to employ more than 10 people and achieve €1 million in export sales within three years.
In addition to an initial cash investment of €30,000 per company, the NDRC team will provide strategic business development advice and intensive mentoring by experts in digital enterprises.
Last year Galway-based Appraisee shone brightest at the first NDRC at PorterShed Investor Showcase, with the car retail software company winning the offer of an additional €30,000 in finishing investment from NDRC.
Ben Hurley, CEO, NDRC, said: “Through our NDRC at PorterShed partnership with GCID, NDRC’s offering of capital together with focused mentoring and support creates an environment wherein start-ups can prosper and grow. The ability to scale is key, with 25% of our entire portfolio having secured at least €250,000 in follow-on investment.
“The number of applications for NDRC at PorterShed exceeded that of our first activities here in 2017, underlining the demand and the potential that exists in the west. Now, as NDRC recognises and reflects upon a decade of our pre-seed investment activities entailing more than 250 companies throughout the country, we hope to see this current, exciting group of start-ups push on and take their businesses to the next level.”
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