10 Apr 2020 | 09.13 am
WIT’s ArcLabs Seeks New Digital Recruits
NDRC will make €50,000 equity investment
10 Apr 2020 | 09.13 am
NDRC at ArcLabs is offering €75,000 investment to digital companies with the best potential for growth and expansion.
Each successful applicant will receive €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 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.
Based in ArcLabs at the Waterford Institute of Technology, the initiative aims to drive the growth of digital startups nationally. Interested companies should contact ArcLabs at firstname.lastname@example.org to book a time to meet its investment team.
Any meeting will be virtual, of course, so companies should have the necessary technology in place. The NDRC said it believes it is “critically important that Ireland maintains a pipeline of new digital companies to participate in and drive the economic recovery — that is why maintaining and continuing the NDRC programmes, like that at ArcLabs, is important”.
ArcLabs manager Aisling O’Neill said: “It is in times of crisis that we see creativity and innovation thrive, and the power within people to activate the ideas that may have been niggling at the back of their minds for some time. There were 80 applications in 2019 and we’re sure there will be many more in 2020.”
Ben Hurley, CEO of NDRC, added: “The first time we delivered NDRC at ArcLabs was in 2018 and since then we have seen the likes of Property Bridges, LiveCosts.com, Miura RegTech and Stackolater deliver impressive progress and further development of their businesses. We’re keen to find more such ventures in the coming weeks.”
The 12-week programme commences in September 2020. For entrepreneurs and individuals interested in finding out more, a number of information events online will be hosted in the coming weeks. More details here.
Photo: Ben Hurley (left) and Aisling O’Neill with Alex Martin of Miura. (Pic: Patrick Browne Photography)