Participants receive investment amounting to €75,000 – €50,000 is a cash investment into their company and €25,000 is in programme service costs
NDRC at ArcLabs is once again on the lookout for startups to join the South East accelerator programme.
Based in ArcLabs in Waterford Institute of Technology (WIT), this initiative aims to drive the growth of digital startups nationally. ArcLabs is a research and innovation hub on WIT's West Campus, Carriganore, Waterford and home to TSSG and NRCI research centres. The Enterprise Ireland New Frontiers entrepreneurship development programme is also run at ArcLabs.
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 persons and achieve €1 million in export sales within three years.
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 http://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, Bord Gáis Energy in partnership with Centrica Innovations, 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.”
The place for company growth
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.”
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.”
Impressed with standard
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.”