START-UPS

NDRC start-ups have created 650 jobs in three years

19 Apr 2024

A crowd seated in Dogpatch Labs with an NDRC event taking place on the stage.

Image: NDRC

GreyScout, Cytidel and Examfly are just some of the examples of companies that went through the NDRC accelerator and together raised more than €56m.

NDRC, the national accelerator programme managed by Dogpatch Labs, has released figures which show that start-ups in its portfolio have created 650 jobs over the past three years.

In an announcement today (19 April), NDRC said it is getting a two-year contract extension to continue supporting founders and entrepreneurs from across the island and to make the country an attractive European destination for building a company.

Start-ups that have participated in its programmes over the past three years have raised more than €56m, according to a report it published along with the announcement. NDRC said that its entire portfolio of start-ups over the same period raised around €180m.

Those that went through its accelerator – such as GreyScout, Cytidel and Examfly – collectively  raised more than €35m, while pre-accelerator alumni including ByoWave and Zerve raised €21m together. Around 30pc of NDRC accelerator investments comprise women-led or co-led start-ups.

“In a period of momentous change in both the macro and micro environment, we’ve continued to instil this ‘founder-first’ mentality, adapting to start-ups’ real-time needs and delivering programmes which are entrepreneur-led and reflect growing start-up trends,” said Ian Browne, managing director of NDRC.

“[This includes] new topics like deep tech and generative AI, or introducing one of Europe’s first SAFE instruments on ‘founder-friendly’ investment terms to Irish start-ups.”

NDRC has had on board some big entrepreneurial names as mentors for its programmes, including Mark Cummins, Bobby Healy, Áine Kerr, Pat Phelan and Jules Coleman. Others have come from major multinationals including OpenAI, Google, Stripe, Fidelity, ESB, Microsoft and Unilever.

An initiative of the Department of Enterprise, NDRC operates through a network of start-up hubs across the country, including Dublin’s Dogpatch Labs, PorterShed Galway, RDI Hub Kerry and Republic of Work in Cork.

At Dogpatch, NDRC has funded many programmes for founders of all ages, including the Founders accelerator first announced last year as a sort of speed-dating for entrepreneurs, and Patch, the accelerator for young entrepreneurs between the ages of 16 and 21.

Earlier this week, NDRC said it is looking for entrepreneurs to join its one-day bootcamp in Cork called Start-up Sprint. Designed to help entrepreneurs learn the art of starting and growing a business, the event will take place on 18 May at Republic of Work.

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Vish Gain was a journalist with Silicon Republic

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