Six start-ups selected for the latest NDRC accelerator at ArcLabs in Waterford are to receive an investment of €75,000 each.
The new cohort includes businesses developing information software for the leisure boat industry, safety data for care in the home, language supports and water management solutions.
The NDRC’s tried and trusted model of sourcing and building digital start-ups and making them investor-ready will be applied to the six new companies.
“The importance of indigenous business has never been more apparent and during such a period of economic uncertainty in light of Brexit”
Since 2017, NDRC has been bringing this model to the South East and West of Ireland, thanks to partners such as Waterford Institute of Technology (WIT), Galway City Innovation District and Enterprise Ireland.
“Hosting the NDRC under this Enterprise Ireland regional accelerator initiative adds additional depth to the entrepreneurial ecosystem of ArcLabs which is so committed to the development of innovative enterprises in South East Ireland,” said Aisling O’Neill, manager of the ArcLabs Research & Innovation Centre.
Rise of the regions
This accelerator programme is part of Enterprise Ireland’s overall strategy to increase the number and quality of start-ups that have the potential to employ more than 10 persons and achieve €1 million in export sales within three years.
Based in ArcLabs in WIT, this initiative aims to drive the growth of digital start-ups nationally.
“It’s great to welcome these six businesses into our NDRC at ArcLabs investment programme,” said Gary Leyden, commercial director at NDRC.
“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.
“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.
“For this cohort, the hard work is only beginning. These entrepreneurs are heading into a crucial time of business development, customer discovery and ultimately scale. What comes out of it, in three months’ time and beyond, is what we are all excited by.”
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 importance of indigenous business has never been more apparent and during such a period of economic uncertainty in light of Brexit, I very much commend these six companies for stepping up and seizing the opportunity for growth,” said Martin Corkery, regional director, South & South East Regions at Enterprise Ireland.
“Enterprise Ireland is, as always, committed to nurturing and promoting the innovative business ideas that are being developed in regions nationwide, be it through the funding or the advisory schemes we provide. This latest number of startups will have busy weeks and months ahead as they work towards turning their idea into a well operating exporting business with the support of Enterprise Ireland, Arc Labs and NDRC. As the Director for the region, I am especially excited to follow their progress closely.”
6 super new start-ups at ArcLabs in Waterford
Smartflow is a water monitoring, conservation and leak detection system which protects the home or business from experiencing damage caused by a plumbing leak. It allows the user to control the flow of water into a premises by their mobile app.
Raceix is bringing connected and informed boating to the marine-leisure space for the first time. The Raceix solution begins with next-generation mapping to provide the best marine data available today. This is then presented to the boat user in a highly intuitive way, using a combination of live video and augmented reality.
PacSana records changes in movement patterns in the home, maintaining a real-time connection between older people and those who care for them. It partners with carers providers, health trusts and housing associations in the UK and Ireland.
Stackolator helps companies achieve the savings many initially thought would come from moving their data into the cloud. It allows customers to rapidly configure servers, databases and other services in the cloud. It also provides the orchestration tooling to allow these services to be started and stopped on demand.
Hippo has created an online platform that enables universities to support the language needs of their English learners to reduce failures, drop outs and financial losses. Universities worldwide face significant financial losses when trying to recruit and retain international students. Hippo will fix this.
Miura provides a comprehensive, technology led regulatory and compliance platform for companies, freeing up key personnel to focus on other tasks within the business.
Pictured above (from left): Aisling O’Neill, Manager at ArcLabs; Feargal Duignan, PacSana; Alex Martin, Miura; David Hogan, Smartflow; Aidan Foley and Samuele Santi, Raceix; Fergal Dearle, Stackolater; Rob Ross, Hippo; Niall Larkin, NDRC. Image: Patrick Browne/Brownes Photography
Written by John Kennedy (firstname.lastname@example.org)
Published: 11 September, 2019