Eircom and SVG Partners create new €10m accelerator for start-ups

9 Oct 2014

Telecoms operator Eircom has joined forces with SVG Partners to launch the Lab353 accelerator and investment programme to help 10 promising Irish tech start-ups scale up in Europe and the US.

The programme, which is also supported by Arvato and Digicel, will offer office space, infrastructure capability cloud services, strategic management consulting, access to a global network of mentors from Silicon Valley and Ireland, as well as corporate, legal and tax services through Lab353 partners.

These services will be provided in the heart of Dublin, providing a European launch pad for tech start-ups.

“The Lab353 Accelerator is offering start-ups and tech disruptors the support and guidance they need to thrive in a highly competitive worldwide market,” explained John Hartnett, CEO of SVG Partners and president of the Irish Technology Leadership Group.

“We are at the forefront of a real tech boom here and I am looking forward to the great leaders and disruptive technologies this programme will reveal.”

Applications are now open at www.lab353.com until 31 December, and will be followed by a 10-week mentoring process based in eircom Business Solutions’ Dublin office.

In May 2015 the companies will pitch their ideas to a group of influential investors, with the aim of securing up to US$1m investment each.

“Lab353 will seek out the hottest technology companies and accelerate them in a meaningful way in Ireland,” said Enda Doyle, director of Business Development and Innovation at Eircom.

“This initiative isn’t for idea incubation. We’re seeking the 10 most disruptive and commercially-promising young technology start-up companies, either already based in Ireland or serious about locating into Ireland from abroad that already has offerings beyond pilot phase and are looking for a commercial release or European expansion.”

Businessman image, via Shutterstock

John Kennedy is a journalist who served as editor of Silicon Republic for 17 years