Ludgate Hub Offering Seed Capital

/ 11th July 2017 /

A final call for applications has been sounded from the Ludgate Seed Capital Fund, which closes on July 15. The fund has up to €500,000 available for companies looking to scale, hire or develop a product/service. As part of the deal, recipients relocate to the Ludgate Hub in Skibbereen.

The Ludgate Seed fund is joint-funded by three private investors, including Gain Line Capital Investments and the Sean and Rose O’Driscoll Family Investment Fund, as well as an international private investor.

Past seed fund recipients who are located in the Ludgate Hub include tourism company Staypal and digital education company Digedu. The purpose of the fund is to accelerate the growth of startup companies that have the capability to succeed in domestic and global markets, while locating some of their operations in the Ludgate Hub.

Seed companies in the Ludgate Hub also get to benefit from the knowledge and expertise Ludgate board members that include Sean O’Driscoll (president of the GlenDimplex Group) and Ronan Harris (MD Google UK & Ireland).

Oliver Smith, co-founder of Digedu, said that the Ludgate Seed Fund was a good move for his company. “We didn’t require the infrastructure that somewhere like Dublin provides and then the overheads of running a business out of Skibbereen are a competitive advantage in themselves. "Reliable internet, a clean space and the focused atmosphere help fuel us and keep us motivated,” Smith added. "The way business is conducted in West Cork has led to a community larger than Ludgate."

Ludgate CEO Grainne Dwyer said that demand from startups to join the hub has quadrupled since last year. ”The Ludgate Hub is an excellent place to start, scale and succeed. Our startups get world-class mentoring support from our expert board and Ludgate Network, day-to-day practical supports and the opportunity to live and work in one of the most spectacular places in Ireland.”

For details on eligibility and the application process, see here.