The first national accelerator run by the re-forged NDRC promises a new ‘founder friendly’ and ‘entrepreneur led’ era.
Applications are now open for promising entrepreneurs wishing to take part in the new €100,000 nationwide NDRC accelerator.
NDRC programme director Hendrik Wolleswinkel described the new era for the NDRC as “founder friendly” and “entrepreneur led”.
“This is the first of many intentional steps we’re taking to create an inclusive programme that inspires, encourages and supports founders from underrepresented minorities”
The new NDRC, which replaces its predecessor, consists of a network of innovation hubs led by Dogpatch Labs and including Portershed Galway, Republic of Work Cork and RDI Hub Kerry as well as the Ignite Ormeau Baths in Belfast.
The aim of the new NDRC is to develop a nationwide ecosystem with each regional hub representing a local centre of entrepreneurial excellence to support people in getting their ideas off the ground.
Founder friendly and diverse by design
Wolleswinkel said that the new NDRC will become one of the first European accelerators to adopt the SAFE instrument to invest.
“Developed by Y Combinator – one of the world’s top accelerators – a SAFE provides flexible, simple and transparent terms with lower legal costs. Terms include an uncapped valuation with a 20pc discount.”
It is understood that the 12 start-ups that will be chosen to participate in the new accelerator will be coached by entrepreneurs-in-residence such as Jules Coleman who sold her business Hassle.com for €32m and more than 40 mentors and speakers who have between them built and exited companies with a worth a combined €5bn+.
A €500,000 bundle of perks includes 12 months of free office space, post-accelerator support, investor lunches and international trips.
Diversity will be a defining theme of the new accelerator with a 50/50 gender balance between entrepreneurs in residence and mentors.
“This is the first of many intentional steps we’re taking to create an inclusive programme that inspires, encourages and supports founders from underrepresented minorities,” Wolleswinkel.
Applications for the new NDRC accelerator close on 2 May and interested entrepreneurs can find out more here
Main image at top (from left): Aideen Leacy, Financial Controller and Board Secretary at Dogpatch Labs; Eamon Ryan, TD, Minister for the Environment, Climate and Communications; and Patrick Walsh, CEO, Dogpatch Labs
By John Kennedy (firstname.lastname@example.org)
Published: 4 March 2021