Nine exciting South-East startups begin first ever NDRC at ArcLabs accelerator
Nine exciting South-East startups begin first ever NDRC at ArcLabs accelerator
- The nine new ventures operate in industries including agritech, gaming, recruitment, retail and property
- The companies will receive three-months of support and mentorship to commercially validate their technologies
- The investment in each company includes €30,000 in direct investment and a further €20,000 in business supports
- NDRC, Enterprise Ireland, ArcLabs, Waterford Institute of Technology (WIT), Bank of Ireland and Suir Valley Ventures support the programme
May 21st, 2018: Nine new, exciting startups in Ireland’s sunny South East recently began the first ever NDRC at ArcLabs accelerator programme, supported by Enterprise Ireland.
The programme is the second regional accelerator undertaken by NDRC, following the successful delivery of NDRC at PorterShed, in Galway, last year.
Once a company joins NDRC, the team works intensively with each, over a short time frame, to help them understand what value their company can offer customers, their strategy for growth and getting them ready to meet the demands of both investors and customers.
The short time span and the intensity of this commercialisation work is the acceleration process. It is this offering of capital investment and development support that makes NDRC effective.
Ben Hurley, NDRC CEO, said: “It is wonderful to welcome such exciting new businesses into NDRC’s portfolio. With the help of our regional partners, NDRC at ArcLabs is further proof of the entrepreneurial talent that is spread throughout Ireland.”
“World leading companies are already emerging from the South East and with industries such as retail, property and recruitment primed for digital disruption, the potential for more growth is clear.”
“We look forward to working closely with each company so that they can go on and secure next stage investment and build their digital enterprises into Ireland’s next generation of global operators.”
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.
The Accelerator programme is part of Enterprise Ireland’s overall strategy to increase the number and quality of start-ups that have the potential to employ more than 10 persons and achieve €1 million in export sales within three years.
Julie Sinnamon, CEO, Enterprise Ireland said, “Enterprise Ireland works closely with the start-up eco-system to support and encourage Irish companies with global ambition to scale internationally.
“Mentorship is fundamental for these early-stage companies and a key pillar of the support system that allows start-ups to become valuable contributors to the regional and national economies. The NDRC at ArcLabs further solidifies the support infrastructure for start-ups in the South-East region and I look forward to seeing the growth of the participating start-ups.”
The nine companies NDRC has invested in comprise:
Property Bridges is an online marketplace for property finance. We help construction professionals raise finance fast and investors access to secured property loans.
Herdsy is a disruptive Agritech tracking company, that can be used on any animal. Herdsy is built for farmers of all sizes who care about increasing the profitability of their herds.
MatchDay is a live sports game that lets fans compete against each other in real time as they watch live sport.
Sipario re-defines how a concert venue books talent. Sipario alleviates the mundane tasks, allows staff focus on higher value work saving time and money. Sipario leverages data to increase revenue via multiple commercialisation opportunities.
PaidAde keeps small trade business owners in business by enabling them to get paid and operate their business on the go.
With an evergrowing number of integrations and a powerful brain, KRAKEN ANALYTICS allows e-Commerce Digital Agencies to be effortlessly data driven and keep clients happier for longer by delivering maximum results.
Referral.Works is a recruitment platform that helps recruiting management get high quality, skilled talent 23% faster, that are retained up to 50% longer through crowd-sourced, data driven referrals.
BluCoup is a marketing platform that enables retailers to engage with consumers in real time as they shop. Our technology then tracks the consumer’s behaviour from offer engagement through to redemption. This allows the platform to deliver bespoke offers to the individual in the future.
TurnedSee is a log in only, modern platform allowing hotels and venues to showcase their MICE offering in 360o technology for the better presentation of their spaces. The pre-qualified planners can view the facilities and instantly connect to the right person at the venue. No commission model and direct relationship building allows better cooperation between the end client and the venue/hotel.
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.
ABOUT ENTERPRISE IRELAND
Enterprise Ireland is the Irish State agency that works with Irish enterprises to help them start, grow, innovate and win export sales in global markets. Enterprise Ireland partners with entrepreneurs, Irish businesses, and the research and investment communities to develop Ireland’s international trade, innovation, leadership and competitiveness. In this way, we support sustainable economic growth and regional development, and help create and sustain employment in Ireland.
ArcLabs, as the centre of WIT’s knowledge and innovation community, funded through combined investment of Enterprise Ireland, the HEA and private investment, opened its doors in 2005; since then, it has housed up to 50 companies over the 12-year period. At any one time, there are approximately 15-18 companies on site in Waterford, accommodating over 100 employees. Successful companies that have graduated from ArcLabs include Feed Henry, Nearform, Stitcherads, Emagine and GIY.
A planned extension, funded by Enterprise Ireland, which is due to commence in 2017, will double the capacity for enterprise development on the site, to 250 staff.
The concept of co-location of Research, Industry and Academia which at the time of its inception was a novel and fresh approach, has proved very successful. Arclabs currently accommodates half of WIT’s internationally accredited TSSG, the other half of which is based in the neighbouring NetLabs building; it is also a base for New Frontiers, Enterprise Ireland’s national entrepreneur development programme for early-stage start-ups, WIT’s ArcAcademy which is the entrepreneur development programme for aspiring entrepreneurs who are, or have recently been, WIT students.
ABOUT WATERFORD INSTITUTE OF TECHNOLOGY (WIT)
WIT has more than 8,000 students across five campuses in Waterford city, with education delivered from higher certificate to doctoral level. The Institute has continued to make a huge contribution to the educational, societal, and economic health of the region.
Over the last 10 years, the Institute has been granted in excess of €150 million in external research funding, leading the field of research in the institute of technology sector, and similar to some smaller universities.
ABOUT THE BANK OF IRELAND SEED AND EARLY STAGE EQUITY FUND
Bank of Ireland Seed and Early Stage Equity Fund is a €32m 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.
ABOUT SUIR VALLEY VENTURES
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.