A new funding model for tech startups based in Waterford has been revealed.
The ‘NDRC@ArcLabs Start-up Accelerator’, which is based at WIT’s Carriganore Campus, is open to applications from entrepreneurs and teams across all technology sectors.
It’ll see arrangements for start ups to meet with private investors in a bid to grow their company.
Those backing the project includeEnterprise Ireland, Suir Valley Ventures, Bank of Ireland Seed and Early Stage Equity Fund, South East BIC, and Local Authorities of Waterford, Carlow, Kilkenny and Wexford, Local Enterprise Offices and Enterprise Centres.
ArcLabs Manager Ciaran Cullen says last month’s Crystal Valley Tech event at the WIT Arena showed the quality offering of tech companies in Waterford:
“It was really an expo of up to 60 companies operating in Waterford, Wexford and South Kilkenny. There’s a huge amount of business in high tech in Waterford and a huge amount to grow here.”
Minister of State for Training, Skills, Innovation, Research & Development, John Halligan TD said: “I’m delighted to welcome the establishment of this new accelerator programme in my own constituency. Ireland is recognised as a key hub for technology and innovation and this accelerator programme, supported by my Department through Enterprise Ireland, will make a real contribution to supporting more start-ups and ultimately more jobs in the South East of Ireland.”
There are 10 slots available within the ‘NDRC@ArcLabs’ Accelerator Programme with the first cohort to commence in early 2018. Successful applicants of the Enterprise Ireland supported accelerator programme will receive membership and a place within ‘NDRC@ArcLabs’ for a period of 100 days, where teams will be able to build and commercially validate their technologies by working with existing entrepreneurial networks and mentors.