NDRC at PorterShed accelerator will invest up to €50,000 per venture.
Early-stage tech start-ups are being encouraged to vie for 10 places on the latest NDRC at PorterShed accelerator in Galway.
Each of the 10 start-ups that will be selected will receive investment amounting to €50,000, of which €30,000 is a cash investment and €20,000 covers service costs.
‘Supporting innovative regional start-ups is a huge focus for Enterprise Ireland’
– ANN MARIE CARROLL
The accelerator is a joint initiative between the NDRC, Galway City Innovation District (GCID) and Enterprise Ireland, and is a key part of the latter’s programme to grow the number and quality of start-ups nationally.
“NDRC has a proven approach, working closely with early-stage start-ups to bridge the gap between their initial formation and follow-on investment, and we play an important and leading role in enhancing the start-up ecosystem nationally, and in supporting the early-stage development of start-up companies,” explained NDRC CEO Ben Hurley.
Start-ups will boost the regional economy
The PorterShed, backed by AIB, is already a showcase for Galway’s vibrant tech start-up scene, with working space housing 34 innovative companies and home to more than 100 members, including hotdesks for visiting entrepreneurs.
“Our vision is to add high-performing tech start-ups 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,” explained the chair of GCID, Maurice O’Gorman.
Following the success of the first NDRC at PorterShed programme – which ran during 2017 and saw Appraisee emerge as the winning start-up, securing further follow-on investment – there will be up to 10 places available for successful entrepreneurs in the Galway-based accelerator programme.
Entry to the latest phase will be through a competitive process designed to find and support those digital companies with the best potential for growth and expansion.
One start-up will be offered finishing investment at the culmination of the programme. Interested entrepreneurs can apply here.
“Supporting innovative regional start-ups is a huge focus for Enterprise Ireland, and the NDRC at PorterShed accelerator is an excellent opportunity for start-ups in the Galway region,” said Ann Marie Carroll from Enterprise Ireland.
“Enterprise Ireland is delighted to be supporting this initiative and looks forward to working with these companies as they develop through the programme with the possibility of one day becoming high-potential start-ups.”