• NDRC at PorterShed is open for applications for its upcoming accelerator programme in Galway
• Increased investment worth €75,000 for 8% equity in each startup appearing on the programme
• NDRC at PorterShed run in partnership with PorterShed, Galway City Innovation District and Enterprise Ireland
• Applications close at the end of March, see www.ndrc.ie
NDRC at PorterShed is once again on the lookout for startups to join its Galway-based accelerator programme. Applications are open until the end of March, with NDRC at PorterShed’s third accelerator beginning in May this year.
Following the success of the first two NDRC at PorterShed programmes, which ran during 2017 and 2018, and saw Appraisee and PlanDomino securing further follow-on investment offers, there will be up to eight places available for successful entrepreneurs in the Galway-based accelerator programme.
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.
Based in the PorterShed in Eyre Square, Galway, this initiative – a collaboration from Enterprise Ireland, NDRC and GCID (Galway City Innovation District) – aims to drive the growth of digital startups nationally.
The PorterShed, backed by AIB, is already a showcase for Galway’s vibrant tech startup scene, with working space housing 38 innovative companies and home to more than 95 members, including hot desks for visiting entrepreneurs.
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 persons and achieve €1 million in export sales within three years.
Heather Humphreys, TD, Minister for Business, Enterprise, and Innovation said: “I’m delighted to announce a third call for applicants for NDRC at PorterShed. Driving innovation and digital entrepreneurship is a key priority for the Government, and we are focused on supporting new sustainable jobs that can deal with new challenges and embrace new technologies. Entrepreneurship drives regional development, delivers economic and social benefits to regions, and builds strong local communities. That’s why it’s important to further invest in and support the provision of regionally based accelerator opportunities. Accelerators can play a key role in the ecosystem, supporting the development of new startups and helping entrepreneurs to develop their business plans, define their value proposition and raise funding. I’m particularly pleased to see Enterprise Ireland, the Galway City Innovation District and NDRC collaborate on this initiative, and l look forward to seeing the progression of the participating companies.”
Ben Hurley, CEO of NDRC, said: “We are delighted to be seeking more startups again for our NDRC at PorterShed accelerator investment programme. Thanks to the healthy partnership we have with PorterShed, GCID and Enterprise Ireland, 2019 will see an enhanced offering for ventures, with increased capital to go alongside our proven accelerator approach. “The startup ecosystem in Ireland is already vibrant, and it is through regional programmes such as NDRC at PorterShed that we can channel that vibrancy into real commercial progress by bringing our transformative expertise to bear on startups throughout the whole of the country.”
Barry Egan, Regional Director - West, Enterprise Ireland, said: Ireland has a unique start-up ecosystem that is a key contributor to our economic growth. Enterprise Ireland is committed to the ongoing support of regional entrepreneurship and enabling regionally-based Irish companies to build scale and expand their reach in international markets. Our partnership with NDRC at Portershed is a key pillar of our regional supports, and a fundamental programme for innovative, indigenous start-ups as they take their first steps to becoming investor-ready and making their ideas a business reality. I look forward to seeing what the latest cohort of companies will bring to the programme.”
Maurice O’Gorman, Chairman of the Galway City Innovation District said: “GCID are delighted to welcome back the NDRC team to PorterShed. Our vision is to create high quality sustainable jobs to the regional economy and with programmes like NDRC at PorterShed we are in a position to identify, accelerate and launch innovative technologies on to the global market stage.
“GCID is passionate about startups and technology, working with NDRC and Enterprise Ireland to accelerate the marketability of innovative technologies is fundamental to our core values.”
About NDRC at PorterShed
NDRC at PorterShed was the first regional accelerator undertaken by NDRC, in partnership with Galway City Innovation District and co-funded by Enterprise Ireland.