Archive for December, 2011

Propeller 2.0 ready for takeoff as second year of DCU Ryan Academy’s accelerator startups selected

December 16, 2011 Leave a comment

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.