Press release
Call open for startups to join latest NDRC at ArcLabs accelerator programme
From Department of Enterprise, Trade and Employment
Published on
Last updated on
From Department of Enterprise, Trade and Employment
Published on
Last updated on
NDRC at ArcLabs is once again on the lookout for startups to join the South East accelerator programme. Applications are open until 30 June 2019, with NDRC at ArcLabs’ second accelerator beginning in August this year.
Following the success of the first NDRC at ArcLabs programme, which ran during 2018, as well as three other regional programmes in the West, there will be up to eight places available for entrepreneurs in the Waterford-based accelerator.
Entry will be through a competitive process designed to find and support those digital companies with the best potential for growth and expansion. Each successful applicant will receive an increased level of investment, amounting to €75,000 – of which €50,000 is a cash investment into their company and €25,000 is in programme service costs.
The accelerator programme is part of Enterprise Ireland’s overall strategy to increase the number and quality of startups that have the potential to employ more than 10 people and achieve €1 million in export sales within three years.
Based in ArcLabs in Waterford Institute of Technology (WIT), this initiative aims to drive the growth of digital startups nationally. Apply here before 30 June 2019.
The 12-week programme commences on 18 August 2019. For entrepreneurs and individuals interested in finding out more, the NDRC team will be hosting a series of information events over the coming weeks in the South East region. Check out www.ndrc.ie for more information.
The investors and supporters of NDRC at ArcLabs, in addition to Enterprise Ireland, include Suir Valley Ventures, Bank of Ireland Seed and Early Stage Equity Fund, South East BIC, and Local Authorities of Carlow, Kilkenny, Waterford and Wexford, Local Enterprise Offices and Enterprise Centres.
John Halligan, Minister of State for Training, Skills, Innovation, Research and Development, said:
"Driving innovation is a key priority for the government so we are focused on offering opportunities for the development of sustainable businesses that propose new solutions and embrace new technologies while also creating jobs. I’m delighted to announce a second call for applicants for the NDRC at ArcLabs accelerator programme here in Waterford, supported by the government through Enterprise Ireland. Hand-in-hand with innovation, entrepreneurship is a key driver of regional development. This is why we are committed to investing in the provision of regionally based accelerator programmes which support the development of new startups, thereby stimulating the local and regional entrepreneurial ecosystems and helping innovative entrepreneurs to develop their business plans."
Brian Fives, Regional Development, Enterprise Ireland, said:
"Enterprise Ireland is committed to the ongoing support of regional entrepreneurship and helping regionally-based Irish companies to achieve their global ambition by building scale and expanding reach in overseas markets. This partnership with NDRC at ArcLabs is a key pillar of our regional supports, and a fundamental programme for innovative, indigenous startups. I look forward to seeing what the latest cohort of companies will bring to the programme as they take their first steps to becoming investor-ready and making their ideas a business reality."
Aisling O’Neill, Manager, ArcLabs Research and innovation Centre, said:
"We are so excited to meet this year’s applicants to our NDRC at ArcLabs programme. There were almost 100 applications in 2018 and following the success of the programme, we’re sure there will be many more in 2019. Given our co-location with the Telecommunications, Software and Systems Group (TSSG), WIT’s internationally renowned ICT research group and Enterprise Ireland Technology Gateway, ArcLabs is the best place to launch and grow your digital technology business! The NDRC at ArcLabs programme offers participants the skills, knowledge and networks required to accelerate company growth. For more information on ArcLabs and to get in touch, see www.arclabs.ie."
Ben Hurley, CEO of NDRC, said:
"We’re excited to begin the call for a second investment programme in the South East. NDRC is now into its third year of investing in startups through regional initiatives such as NDRC at ArcLabs.
"The first time we delivered NDRC at ArcLabs was in 2018 and we were impressed by the standard of ventures to come through that inaugural programme. Businesses such as Property Bridges and Live Costs show the standard of innovative startups bubbling under the surface. We’re keen to find more in the coming weeks."
ENDS
Information:
Gordon Hunt, Senior Communications and Content Executive, NDRC.
Tel +353 1 690 8026. Email: gordon.hunt@ndrc.ie
NDRC sources and builds young digital companies to invest in. NDRC has a mandate from the State to make these investments, ensuring digital entrepreneurship is at the centre of Ireland’s economic agenda.
NDRC’s first regional accelerator under Enterprise Ireland’s Accelerator Development Scheme (2015-2017), NDRC at PorterShed, based in Galway and sourcing throughout the West, was announced in May 2017.
The investors and supporters of NDRC at ArcLabs, in addition to Enterprise Ireland, include Suir Valley Ventures,Bank of Ireland Seed and Early Stage Equity Fund, South East BIC, and Local Authorities of Carlow, Kilkenny, Waterford and Wexford, Local Enterprise Offices and Enterprise Centres.
Bank of Ireland Seed and Early Stage Equity Fund is a €32 million Fund that invests in start-up and early stage companies, with a focus on export orientated high potential start-up companies that operate in the technology (including green technology), food and financial services sectors, in addition to supporting patent and patent pending projects within Irish universities. It is managed on behalf of Bank of Ireland and the other partners by Kernel Capital. This fund comprises of investment by Bank of Ireland, Enterprise Ireland, The University of Limerick Foundation and Galway University Foundation Limited.
Suir Valley Ventures is an entrepreneur led Venture Capital Fund that invests in early stage software companies. It specialises in investing in Augmented Reality (‘AR’) and Virtual Reality (‘VR’), Financial Technology (‘FinTech’), and the Internet of Things (‘IoT’) Sectors. Suir Valley Ventures works in partnership with Shard Capital, which is London based independent financial services company offering a full range of broking, asset management and corporate capital services.