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NDRC investing €75,000 each into 6 Waterford businesses

Written by Robert McHugh, on 11th Sep 2019. Posted in General

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NDRC at ArcLabs has welcomed six new Irish startups to its South East accelerator, the second of three programmes planned for the region.

This year’s cohort of companies includes businesses developing information software for the leisure boat industry, safety data for care in the home, language supports and water management solutions.

NDRC sources and builds digital startups to invest in and work with, providing them with knowledge, experience, expertise and a modest amount of capital to enable them to become investor-ready faster, more successfully and more efficiently than otherwise.

Since 2017, NDRC has been bringing this model to the South East and West of Ireland, with partners such as Waterford Institute of Technology (WIT), Galway City Innovation District and Enterprise Ireland.

The programme is part of Enterprise Ireland’s overall strategy to increase the number and quality of startups that have the potential to employ more than 10 persons and achieve €1 million in export sales within three years.

The initiative aims to drive the growth of digital startups nationally. Previous companies to have come through NDRC at ArcLabs include Property Bridges, a business allowing anybody to invest in property developments throughout Ireland through a crowd-fund platform.

The investors and supporters of NDRC at ArcLabs, in addition to Enterprise Ireland, include Sure Valley Ventures, Bank of Ireland Seed and Early Stage Equity Fund, Bord Gáis Energy in partnership with Centrica Innovations, South East BIC, and Local Authorities of Carlow, Kilkenny, Waterford and Wexford, Local Enterprise Offices and Enterprise Centres.

NDRC currently runs programmes in Dublin, Galway and Waterford, as well as providing support for similar activities in Oman.

The startups are:
Smartflow
Raceix 
PacSana 
Stackolator 
Hippo 
Miura Miura 

Speaking this week, Commercial Director at NDRC, Gary Leyden said, "It's great to welcome these six businesses into our NDRC at ArcLabs investment programme. This is the second time we've operated an accelerator in the South East and, with support from our partners Waterford Institute of Technology and Enterprise Ireland, we expect this programme to push on from all we have achieved in the region already."

He added, "The success of our acceleration activities is exemplified by what our portfolio achieves. Last year, exciting businesses such as LiveCosts and Property Bridges secured pre-seed investment and benefitted from NDRC at ArcLabs, with the former securing the offer of further investment and the latter excelling in delivering several major development projects across Ireland already." 

Source: www.businessworld.ie

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