Galway accelerator wants to attract the cream of the start-up crop.
Applications are open until the end of March, with NDRC at PorterShed’s third accelerator beginning in May this year.
‘Our vision is to create high-quality, sustainable jobs to the regional economy’
– MAURICE O’GORMAN
“Thanks to the healthy partnership we have with the PorterShed, GCID and Enterprise Ireland, 2019 will see an enhanced offering for ventures, with increased capital to go alongside our proven accelerator approach,” explained NDRC CEO Ben Hurley.
Entry will be through a competitive process designed to find and support those digital companies with the best potential for growth and expansion.
Each successful applicant will receive an increased level of investment, amounting to €75,000 – of which €50,000 is a cash investment into their company and €25,000 is in programme service costs.
“Entrepreneurship drives regional development, delivers economic and social benefits to regions, and builds strong local communities,” the Minister for Business, Enterprise and Innovation Heather Humphreys, TD, said.
“That’s why it’s important to further invest in and support the provision of regionally based accelerator opportunities. Accelerators can play a key role in the ecosystem, supporting the development of new start-ups and helping entrepreneurs to develop their business plans, define their value proposition and raise funding.”
“Ireland has a unique start-up ecosystem that is a key contributor to our economic growth,” said Barry Egan, regional director (west) at Enterprise Ireland.
“Enterprise Ireland is committed to the ongoing support of regional entrepreneurship and enabling regionally based Irish companies to build scale and expand their reach in international markets.”
The PorterShed, backed by AIB, is already a showcase for Galway’s vibrant tech start-up scene, with working space housing 38 innovative companies and home to more than 95 members, including hotdesks for visiting entrepreneurs.
“Our vision is to create high-quality, sustainable jobs to the regional economy, and with programmes like NDRC at PorterShed we are in a position to identify, accelerate and launch innovative technologies on to the global market stage,” said Maurice O’Gorman, chair of GCID.