NDRC ventures received more than €50m in funding in 2017

7 Feb 2018

NDRC CEO Ben Hurley. Image: NDRC

NDRC-backed companies had a banner 2017, with the total number of ventures now exceeding 250.

2017 was a positive year for NDRC and the companies in its portfolio, with 80 ventures supported in 2017 through an array of programmes.

Included among the 80 ventures are participants in pre-commercialisation and pre-acceleration programmes.

NDRC added 28 new companies to its portfolio in 2017.

An impressive portfolio

Now in its 11th year, NDRC’s success built on early-stage companies is continuing to bear fruit.

Companies such as Nuritas, Plynk and Tandem HR all made headlines with their respective funding announcements.

2017 also saw the completion of NDRC’s first regional accelerator in Galway, with graduate company Appraisee the first winner of an NDRC at PorterShed programme, which will run again in 2018.

Waterford was also a regional target for NDRC, with the launch of its second regional accelerator at ArcLabs. Start-ups are currently being recruited for this programme, with places for up to 10 new ventures up for grabs. Both the Waterford and Galway programmes are supported by Enterprise Ireland.

A partnership with the Oman Technology Fund also saw NDRC assist in an early-stage accelerator programme in Muscat last year. This initiative introduced NDRC’s work to an international audience.

NDRC helping innovative new businesses

NDRC CEO Ben Hurley welcomed the results: “The series of funding announcements made by NDRC companies in 2017 shows just how innovative and hardworking our start-ups are proving to be.”

Hurley maintained that “with the right selection, focus and acceleration, Irish digital entrepreneurs can be attractive propositions for investors both at home and abroad”.

He explained that NDRC’s offering of capital investment and specialist expertise “in the nascent stages of Irish start-ups is what makes the organisation so effective”.

Hurley concluded by noting the growth in some of its companies from seed stage to Series A, a gratifying result for the NDRC team. “To see seed funding increasing to such a degree amongst our portfolio is one thing, but the Series A successes by Irish start-ups is proof that our companies are maturing and attracting some of the biggest investors in the world.”

Ellen Tannam was a journalist with Silicon Republic, covering all manner of business and tech subjects