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Seoige Technology, Propeller Venture Accelerator
John Joyce, CEO, Seoige Technology talks about Propeller Venture Accelerator and his experience.
Paul Healy, CEO of Fantom talks about his experience while on the Propeller Venture Accelerator
Propeller Venture Accelerator, Application process opens 3rd September
Once again the application process will open for Propeller Venture Accelerator which is Europe’s 7th Best Accelerator. The date will be the 3rd September. So what is the deal;
YOU GET
- €30,000 Euro investment (approx $37,000 USD)
- Investor Day (previously investors came from Ireland, England, Italy & the USA)
- Free Office Space (3 months during & 1 month after)
- Mentorship (over 80 mentors that can guide, advice and open doors)
- Introductions to potential clients, partners and investors
- In total a deal worth €45,000 Euro (approx $55,500 USD) investment & services
WE GET
- 7.5% equity stake, valuing your company at €600,000 Euro ($740,000 USD)
“The Propeller Venture Accelerator has been a great experience one that has truly accelerated our company by at least 2 years if not more in only 3 months. With easy access to a number of experienced mentors we were able to achieve results so much faster.”
Tom Byrne, CEO & Founder, HealthComms
“A good Accelerator propels a company to a different place. Sound business advice, alternative perspectives and the very welcome injection of cash allows the founders the space to imagine what their business could be, rather than how do they keep their idea alive until tomorrow.
Propeller did this for us. You go into the process focused on the money, too many dark days staring at unpaid bills makes you hungry, but the nurturing takes the lean look off you! An external eye on your product and your business plan gives a much needed reality check; a network of business contacts who are committed to help gives you a real trading start; and practical things like office space, professional advice and the insight of other founders like you help you believe you can make it. And that belief is the difference between success and failure. I would undoubtedly commend an accelerator program to any start-up business and Propeller is one of the best”.
Paul Healy, CEO & Founder, Fantom & Serial Entrepreneur
For more information visit our website http://ryanacademy.ie/propeller-venture-accelerator
Menter Iontach Nua to Showcase at the Irish Charities Expo
New social enterprise programme, Menter Iontach Nua is to present upcoming opportunities for the social sector at the first Irish Charities Expo, in the RDS Dublin on May 2nd.
The new initiative is part-funded by the European Regional Development Fund through the Ireland Wales Programme and has been developed by four Irish and Welsh organisations. Two prominent Universities, DCU Ryan Academy and Bangor University have combined their academic expertise with two Irish and Welsh business and community organisations, NorDubCo and Business in the Community Wales to develop the programme.
The programme is designed to meet the needs of social enterprises for training, mentoring and networking support in Ireland and Wales. The programme is part-time and will include an MSc in Social Enterprise Management.
The participants will be leaders of social enterprise, social enterprise managers and employees, corporates with CSR programmes and others with an interest in the social sector.
For further information on Menter Iontach Nua – contact the DCU Ryan Academy
Business Innovation Programme student Tina Reid wins Mason Hayes and Curran 2012 Green Business Plan Competition
The winner of the Mason Hayes & Curran 2012 Green Business Plan Competition has been announced at Dublin City University. Tina Reid, founder of Reid Recycling (trading as ORGAANEQ), has developed a waste management service for the Irish equine industry, which will include collection and recycling of used bedding from stable yards. The start-up will benefit from an award of €2 000 from leading law firm, Mason Hayes & Curran to assist on the next stage of its business development.
Tina’s business plan has been developed through her participation in the DCU Ryan Academy for Entrepreneurship Business Innovation Programme which enables unemployed graduates or professionals to create or secure employment in roles where they can encourage or implement innovative change. Tina said, ‘I was so thrilled to have had the opportunity to present, let alone win…. and to have such positive feedback about the idea. Winning was an unexpected surprise. The past year has been spent on the Business Innovation Programme at the DCU Ryan Academy with a view to getting this business from idea stage through feasibility towards business plan and launch. Winning will aid me in taking my first steps onto the ladder to success.’
The Mason Hayes & Curran Green Business Plan competition provides a platform for enterprising students at Dublin City University to pitch their innovative, start-up business ideas to business and investment professionals. Business plans shortlisted for the final pitching session were required to demonstrate an environmentally friendly or sustainable dimension. Wendy Hederman, partner in Mason Hayes & Curran’s Commercial Department said, ‘This innovative programme is a hallmark of DCU’s innovative and enterprising ethos, bridging the gap between academia and enterprise. It enables students to find a pathway to creating a viable, sustainable business.’
Professor Brian MacCraith, President of DCU said, ‘DCU strives to create an entrepreneurial, innovative environment which empowers students in shaping their own future and transforming their lives. I warmly congratulate Tina on her achievement today and wish her every success with the commercialisation of her business plan.’
Propeller Demo Day approaches
Days left until our company founders pitch to an expected audience of over 100 including investors from Ireland and Europe, the tension is rising, the heat is on, and the coffee machine is working overtime here at the Ryan Academy.
On Friday the 27th of April Demo Day will arrive, the 6 chosen companies Pickturk, Seoige Technologies, Zeto Technology Solutions (previously Slattery Validation Systems), Death Buy Fashion (previously StyleCloud), SwiftQueue and VideoElephant have been through 3 months of acceleration thanks to over 65 mentors, workshops and €30,000 cash investment. In total, a deal worth €45,000 per company.
The companies have been through several workshops including Team Development with Liz Leavy, Search Engine Optimisation with Theo Lynn, Law with Peppe Santoro, Finance with Drew O’Sullivan and International Sales with Bernie Cullinan to mention but a few, a thank you to all the mentors who gave these workshops for free.
One of the most powerful tools the mentors have is there network which they have introduced the companies too; opening doors and introducing them to the right connections helping the founders grow their companies.
“I have been astonished with how quickly I have been able to meet key people that I needed to meet; the willingness of the mentors to open their network and to introduce to me to their close contacts is amazing.” John Joyce, CEO, Seoige Technology.
Already from last year’s companies a total of over $1.73 million in investment has been raised and 28 jobs have been created, this is still growing, a truly great accomplishment.
And lastly a special thank you to our Demo Day sponsor Grant Thornton.
Propeller 2.0 ready for takeoff as second year of DCU Ryan Academy’s accelerator startups selected
The DCU Ryan Academy has today announced the 6 companies that have been selected for Propeller 2.0 three month accelerator programme for technology startups.
The Propeller Venture Accelerator Programme, which has been ranked 7th best in Europe in an independent study of accelerator programmes commissioned by the Kauffman Fellows Program, provides each of the chosen companies with a €30,000 seed investment, tailored and targeted mentoring and training, as well as three months incubation with free space and services, in total a package worth €45,000.
The programme was vastly oversubscribed, with a total of 137 applications submitted to the programme from over 20 countries including Ireland, Germany, Finland, USA, Australia, Iran, India, Israel, South Africa, Brazil, Rwanda and China.
The 6 companies selected for Propeller 2.0 are; Slattery Validation Systems, Picturk, Seoige Technology, StyleCloud, SwiftQueue and VideoElephant. All are technology startups, with innovative ideas ranging from increasing energy efficiency in commercial refrigeration systems to enhancing distribution and sales channels for online video content producers.
The chosen companies will enter the Propeller Venture Accelerator offices in January 2012, and will be met by over 60 mentors whose invaluable experience will be used to advise and lead these companies on a path of success.
Terence Bowden, Venture Manager of the Programme said, “We are delighted with the huge level of interest shown in the Propeller Venture Accelerator programme from Ireland and all over the world because it highlights just how much this programme has to offer start-up companies and it’s a clear sign of the appetite for entrepreneurism and innovation in Ireland and abroad.
The standard of companies applying has been extremely high and we are confident that they have the good ideas and the good people needed to make their business a success.”
Speaking about being offered a place John Joyce, CEO, Seoige Technology “We are delighted to be selected for the DCU Ryan Academy Propeller Venture Accelerator. One of the main attractions for us is the calibre of the business mentors/partners that are part of the program.
We feel that these people will bring a huge amount to our business and will be key in helping us to make our ideas a reality.”
The ethos of the DCU Ryan Academy is about putting us in front of the right people, whether venture capitalists or angel investors, who will help us in ways that would never have been possible if we were out on our own.”
The first year of the programme, which finished in April 2011, brought huge success for the six companies that took part. Operating in technology areas ranging from mobile applications to clean tech, online gaming, health informatics and internet applications, the startups are now in the process of closing seed funding deals totalling over €1 million. The companies, who each employed two people when starting the programme, have now created an additional 18 jobs since finishing the programme.
Propeller Venture Accelerator features on Nationwide Friday 25th of November!
On Friday the 25TH of November, DCU Ryan Academy’s inaugural Propeller Venture Accelerator Demo Day presented on RTE One’s Nationwide at 7.00pm. The show will also be streamed live on RTE Player. Programme Enquiries to: nationwide@rte.ie
The Propeller Venture Accelerator aims to accelerate early development stage of technology start-up companies, both Irish and international, in Dublin. The Propeller Accelerator has taken the successful US accelerator model and adapted it to the Irish context. In early 2011 the Propeller Venture Accelerator became a charter member of the Techstars Network, only one of five outside of the US and only one of three in Europe.
The Propeller Venture Accelerator has an emphasis on software, Web 2.0, applications, informatics and cleantech start-ups. The accelerator programme is a mentor-led, three months incubation with free space and services and an additional €30,000 cash investment in each company. This is in return for 6.5% equity stake.
The first Propeller Programme which started in February 2011 had an initial six companies – who were:
This year the programme has received a total of 135 applications. Aside from a healthy number of Irish start-ups, the programme has also received applications from 20 countries, including Germany, Finland, the US, Australia, Iran, India, Israel, South Africa, Brazil, Rwanda and China. It is no surprise that people from all around the globe are showing a huge interest in participating in this award winning accelerator, recently ranked 7th in Europe.
The chosen companies will enter the Propeller offices in January 2012 in Citywest, Dublin. Waiting are over 60 mentors with a formidable amount of experience to help the companies on a path to success.
“The Propeller Venture Accelerator has been a great experience one that has truly accelerated our company by at least 2 years if not more in only 3 months. With easy access to a number of experienced mentors we were able to achieve results so much faster.”
Tom Byrne, CTO & Founder, HealthComms
The application process will open again for Propeller 3.0 in the Spring of 2012. Keep an eye on the Ryan Academy’s website.
Propeller start-ups have access to and advice from mentors, which is a key part of the programme; the mentors are senior corporate executives as well as seasoned entrepreneurs in the technology area. Another benefit of the programme is the package of corporate and service support including marketing, accounting, legal and intellectual property advice. Companies such as Sage, Arthur Cox (largest law firm in Ireland), Tomkins IP (intellectual Firm of the Year in 2010), Enterprise Ireland, Irish Small and Medium Enterprises Association (ISME), the HALO Business Angels Network, the Irish Technology Leadership Group and Arizona State University in the US have agreed to partner on the programme.
Minister Richard Bruton launches second year of DCU Ryan Academy‘s Business Innovation Programme
On Monday the 24th of October Minister for Enterprise, Jobs and Innovation Richard Bruton launched the second year of the DCU Ryan Academy’s Business Innovation Programme (BIP), with a total of 126 unemployed professionals signed up participate on this year’s course.
The programme will last for nine months with people securing on-the-job work placements with some of Ireland’s leading employers, while also gaining a recognised qualification in the process.
Of the 122 participants who took part in the inaugural year of the programme last year, over 55 per cent are now in fulltime employment.
During the launch, Minister Bruton welcomed the work of the DCU Ryan Academy and met past and present course participants.
Minister Bruton said:
“The people I met today in many ways reflect the experiences of so many people across the country in recent years – well qualified, hard-working people who have been unfortunate enough to lose their jobs due to the collapse in the economy.
“My hope is that the success of this Programme can be reflected across the country in the coming years. Through a combination of government support, the private sector, our educational institutions and above all the hard work and commitment of individuals, a large number of people in a short period of time have found employment again. There are many lessons for all of us here – for my part I am determined that government will keep its end of the bargain and work hard to get people into employment again”.
Speaking about their expectations for the course, BIP participant Tom Cavanagh from Shankill Co Dublin said, “I am delighted to have obtained a place on the course. I feel like I am taking control of my situation and it’s a great feeling to be in a room with dozens of other people with the same goals for the future.
I am looking forward to building on my own expertise, expanding my networks and giving myself an edge in a difficult job market, while gaining the confidence to change my career path and obtain a recognised qualification in the process.”
Ann Horan, Chief Executive of the Academy, said, “We are delighted to have such a diverse group of participants with a wide range of skills and experience.
Our aim over the next nine months is to work with this talented group of professionals and entrepreneurs to support them in unlocking their potential and ultimately, help them succeed in getting back into the workforce.” said Horan.
The BIP nine-month programme is part of the Higher Education Authority’s Springboard Initiative and incorporates academic classes with an innovation team placement with one of 40 host companies. Following the huge success of the first year of the BIP, this year saw the course oversubscribed by over 100 per cent.
Of the 126 current participants, 84 are men and 42 are women and while the majority are Irish, participants hail from all over the world, from as far away as Malawi and the United States.
Collectively, the 126 participants in the course this year have 2,184 years of work experience.
Over a third of participants, with an average age of 35-55, have been unemployed for over two years. Fifty four per cent of participants have been unemployed between 6 months and 2 years.
Growth in Technology Start-ups Continues as Applications Double for DCU Ryan Academy Propeller Venture Accelerator Programme
The second year of the DCU Ryan Academy’s Propeller Venture Accelerator Programme for technology start-ups has been vastly oversubscribed, with applications outstripping places available by almost 95 per cent. Applications to the Fund, which provides capital investment and a three month intensive mentoring programme for entrepreneurs, were received from over 20 countries including Ireland, Germany, Finland, USA, Australia, Iran, India, Israel, South Africa, Brazil, Rwanda and China. The interest shown is a clear indication that Ireland is seen as a hub for entrepreneurship and innovation both at home and abroad.
The Propeller Venture Accelerator Programme, which has been ranked 7th best in Europe in an independent study of accelerator programmes commissioned by the Kauffman Fellows Program, was established in 2010 with the aim of fast-tracking early stage Irish and international technology start-up companies in Dublin. Each of the chosen companies receives €30,000 seed fund injection, tailored and targeted mentoring and training, as well as three months incubation with free space and services.
The chosen companies will enter the Propeller Venture Accelerator offices on 2 January 2012, and will be met by over 60 mentors whose invaluable experience will be used to advise and lead these companies on a path of success.
While recruitment of mentors continues, many well-known businesspeople are already involved, including Frank Hannigan – Chairman – Goshido, John Canacott – Serial Entrepreneur, Maurice Mason – Partner Irelandia Aviation and Liam Mullaney – Managing Director Sage. At the end of the three month programme, each company will pitch their business and products to potential investors from around the globe at a special ‘Demo Day’.
Terence Bowden, Venture Manager of the Programme said, “We are delighted with the huge level of interest shown from Ireland and all over the world because it highlights just how much this programme has to offer start-up companies and it’s a clear sign of the appetite for entrepreneurism and innovation in Ireland’.
‘Our aim here at the DCU Ryan Academy is to find good people with good ideas, and give them all the tools and support they need to take their ideas to market. Ireland is awash with entrepreneurs and we seek to help nurture and foster innovation.’
The first year of the programme, which finished in April 2011, brought huge success for the six companies that took part. Operating in technology areas ranging from mobile applications to clean tech, online gaming, health informatics and internet applications, the start-ups are now in the process of closing seed funding deals totally over €1 million. The companies, who include Associate Mobile, Fantom, GreenEgg Technologies, Healthcomms, Simple Lifeforms and VendorShopSocial, each employed two people when starting the programme, have now created an additional 18 jobs since finishing the programme.
Speaking about his experience, Tom Byrne, CEO and Founder of HealthComms said, “The Propeller Venture Accelerator has been a great experience and one that has truly accelerated our company by at least 2 years, if not more, in just 3 months. With easy access to a number of experienced mentors we were able to achieve results so much faster than if we had been on our own.”
