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NDRC companies raised €152m in follow-on investment to end 2016

Written by Robert McHugh, on 12th Jul 2017. Posted in Ireland

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It was announced today that NDRC supported digital companies raised €152 million in cumulative follow-on investment to end 2016, a 22% increase on 2015, according to the organisation’s annual report.  
 
Established by the State in 2007 and based in the Digital Hub Dublin 8, but operating nationally, NDRC has to date built and invested in 226 companies which collectively have an estimated market valuation of €427 million. 
 
Last year, 32 digital startups were mentored and accelerated through NDRC, an almost 25% increase on the previous year. These companies were selected from a competitive field of 440 applicants to NDRC programmes, indicating the high quality bar that applies.
 
Companies securing significant Series A investment this year included NewsWhip, Bizimply, Nuritas and SilverCloud. Over 800 people are now directly employed in companies that have emerged from NDRC‘s digital acceleration and investment programmes. NDRC also reported investment returns of €460K for the year. 
 
In 2016, NDRC secured the tender to run two regional accelerators on behalf of Enterprise Ireland. These joint initiatives are designed to grow the number and quality of digital startups nationally. 
 
Speaking today, NDRC’s Chairman, Dr. Sean Baker said, "The interdependence between a competitive, innovation-rich economy and a healthy startup sector remain starkly clear across the globe. Continuing to source and build Irish startups that have the potential to create jobs at home and to compete internationally is more critically important than ever before."

Source: www.businessworld.ie

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