NDRC has announced the launch of its Autumn 2018 Investment Programme for start-ups.
The investor in early stage digital companies has a mandate from the State (Department of Communications, Climate Action and Environment) to make commercial investments to boost digital entrepreneurship.
Successful companies will secure investment of between €50,000 and €120,000, per venture, over the programme. This investment comprises €30,000-€100,000 in capital, as well as €20,000 in programme activities. They will also receive expert mentoring in customer discovery, business model design, sales and growth tactics, finance, investment, technology, marketing, design and communications.
Upon completion of the programme, the ventures whose ideas have been commercially validated, and are deemed by NDRC to be investor ready, will receive finishing supports, including the potential for further investment and a programme of dedicated investor relations activity.
NDRC’s portfolio of digital companies over the last ten years includes Nuritas, Logentries, Bizimply, Boxever, SilverCloud and TandemHR. These companies went on to receive millions of euros in follow-on investment from both Irish and international investors. Successful companies in the NDRC portfolio have raised in excess of €152m as at the end of 2016.
Entry to all NDRC programmes is extremely competitive and initial applications should be made by 8 July. Typically, less than 10% of those who apply to NDRC secure a place.
Shortlisted applicants will be invited to pitch to NDRC in July and offers should be made by end of that month. The Accelerator Programme will then commence at the beginning of September. NDRC will host a number of ‘office hours’ events, where interested parties can visit the team to discuss the programme. Information on these events are available on www.NDRC.ie.
Commenting on the programme, CEO NDRC, Ben Hurley said, "With our Autumn call, NDRC is looking to continue this work and discover more and more exciting, innovative digital businesses. Through our activities with each entrepreneur, we position each company as well as possible to secure further funding, to continue their growth. We build and invest in startups with digital technology at the heart of the business. In our experience, though, the founders behind these businesses are often from varied backgrounds, not always digital in nature."
He added, "Digital is impacting every business and every sector and we are seeking people who have seen a problem in their area of expertise, be it finance, sport, legal, retail or beyond and think there may be a digital solution with international growth potential."