NDRC at ArcLabs start-ups to get €75,000 of investment each

Applications are open until 28 June, 2020, with the programme commencing in September at ArcLabs in Waterford Institute of Technology (WIT).

Following the success of the first two NDRC programmes at ArcLabs, and a further three regional NDRC programmes in the West, the call is now open for applications for the next cohort of entrepreneurs.

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 €75,000 – of which €50,000 is a cash investment into their company and €25,000 is in programme service costs.

“There have been many challenges presented by the Covid-19 emergency”

The 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.

Opportunities in a time of crisis

Based in ArcLabs in Waterford Institute of Technology (WIT), this initiative aims to drive the growth of digital start-ups nationally, with the next 12-week programme commencing in September.

Both NDRC and ArcLabs are currently following the Irish Government’s advice regarding social distancing, so remote consultation between applicants and the investor team will operate until it deemed safe to meet in person.

“It is in times of crisis that we see creativity and innovation thrive and the power within people to activate the ideas that may have been niggling at the back of their minds for some time”

Looking beyond the current crisis, it is critically important that Ireland maintains a pipeline of new digital companies to participate in and drive the economic recovery. Undoubtedly, these are difficult times for all businesses but start-ups, with the inherent flexibility and capacity to pivot, have the capacity to plan for the new economic challenges ahead.

Manager of ArcLabs Research and innovation Centre, Aisling O’Neill, said; “We are living in unprecedented times. There have been many challenges presented by the Covid-19 emergency. However, along with challenge lies opportunity. It is in times of crisis that we see creativity and innovation thrive and the power within people to activate the ideas that may have been niggling at the back of their minds for some time.

“We are so excited to meet this year’s applicants to our NDRC at ArcLabs programme. There were over 80 applications in 2019 and following the success of the programme, we’re sure there will be many more in 2020.

Companies that have previously stood out on the NDRC programme at ArcLabs include LiveCosts, Property Bridges and Muira RegTech.

By Stephen Larkin

Published: 9 April, 2020