Early stage technology start-ups can now apply for a space on DCU Ryan’s Academy’s third Propeller Venture Accelerator programme. The programme runs for three months and offers a €45,000 package for self-starters, including a €30,000 investment and office space.
The Ryan Academy itself is based at Dublin City University’s (DCU) Citywest campus. Its Propeller Venture Accelerator programme has been adopted for the European market from the TechStars start-up accelerator model in the US.
The first Propeller programme ran in early 2011. For its next programme, Ryan Academy is particularly zeroing in on technology start-ups in the areas of software, Web 2.0, informatics, clean-tech and applications.
According to the academy, the companies that have emerged from the past two Propeller programmes have raised more than €1.75m in investment.
As well as the €30,000 investment, start-ups that qualify for the next programme will get free office space, as well as access to a network of more than 80 mentors. And at the end of the accelerator, the start-ups will pitch to a panel of investors and business angels.
Terence Bowden manages the accelerator programme at the Ryan Academy. He said Propeller aims to help start-ups get to the next level in terms of their evolution.
"We offer a comprehensive package of practical and financial supports and access to a full suite of mentoring programmes and to further investment possibilities through our Demo Day at the end of the accelerator," he said.
The closing date for applications is 22 October. Companies that make it onto the programme will move into the Ryan Academy’s Citywest campus in January 2013.
As part of the package, the academy will also take a 7.5pc equity stake in companies that qualify for the programme.