Irish start-ups urged to compete for share of $5m VentureClash pool

4 May 2018781 Views

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Founders Bridge in Hartford, Connecticut. Image: Sean Pavone/Shutterstock

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Executives from Connecticut Innovations to visit Dublin in May to suss out Irish start-up talent.

Irish start-ups in areas including digital health, fintech, insuretech and internet of things (IoT) are being urged to apply for Connecticut Innovations’ (CI) VentureClash 2018 and vie for up to $5m in direct funding.

Last year, Irish IoT firm Davra Networks was listed among the finalists.

‘VentureClash and CI are helping incredible companies grow and succeed here in Connecticut’
– MATT MCCOOE

The entire investment award pool is $5m, with a top investment award of $1.5m. The remaining $3.5m will be determined by the judging panel on the day of the event.

Kickstart your entry into the US market in Connecticut

Eligible start-ups must be in business for 12 months, have customers using or testing their product and must have a compelling business case to create a presence in Connecticut.

Interested companies have until 8 June to submit their application.

After two rounds of judging, approximately 10 companies will be invited to the finals event in Connecticut in the autumn to compete in person for investment awards. An outside panel of judges will help to determine the winning companies of VentureClash 2018.

Bank of Ireland entrepreneur-in-residence Gene Murphy told Siliconrepublic.com that the bank will be supporting the programme. Meetings between start-ups and CI executive Doug Roth will be hosted in Dublin at Bank of Ireland’s Camden Street Startlab during office hours on 29 and 30 May.

“This is our third year of VentureClash, and we expect more high-quality companies as well as additional corporate partners in our industry verticals,” said Matt McCooe, CEO of Connecticut Innovations.

“VentureClash and CI are helping incredible companies grow and succeed here in Connecticut. As one example, Dream Payments, the 2016 top winner of VentureClash, has gone on to raise two rounds of funding for more than $10m.

“Dream has since launched in the US, won major banks and insurance companies as customers, and announced partnerships with major credit and payments companies,” McCooe said.

Editor John Kennedy is an award-winning technology journalist.

editorial@siliconrepublic.com