NDRC has unveiled the latest tranche of startups selected for investment and inclusion on its accelerator programme.

The five ventures will each receive investment of €100,000 as well as a place on the NDRC’s six-month acceleration programme, which the state-backed agency calculates is worth an extra €35,000 each.

Based at NDRC’s Digital Exchange offices in Dublin, the startups will work with NDRC’s team over the course of the six-month programme.

The five startups picked for NDRC’s spring programme are:

MEG, which develops mobile-first software aimed at frontline medical workers in the healthcare sector.

In Association with

Sproose, which initially ran a laundry on-demand service but has since expanded to provide companies with a suite of services – laundry, bike repair, couriers, dentistry etc – to enhance employee engagement.

Spire, which has developed a vehicle incident management business, making it easier for drivers, recovery companies and insurers to handle post-incident situations.

Aqualicense, which helps fast-track organisations seeking aquaculture licenses.

Machine Learning Programs, which uses machine learning and statistical models to improve performance and returns for the insurance industry. It does this by predicting the likelihood of people making claims.

“Bringing a startup from an idea right through to being ready for investment is a challenging process. With our proven expertise and focus, NDRC is here to help with that progression,” said Ben Hurley, CEO of NDRC.

“Following a successful first decade of investing, this latest cohort of businesses brings the number of companies NDRC has invested in close to the 300 mark.”

Seventeen ventures supported by NDRC received follow-on investment of more than €500,000 in 2018, Hurley added.

“A good mix of entrepreneurs in this spring programme will lend itself to an interesting dynamic, with these businesses already showing some progress with their propositions.

“Some are already revenue generating, with enhanced customer discovery already well underway among the founders, but the challenge of securing seed investment remains due to changes in the funding ecosystem.”

NDRC invested in 32 new startups during 2018 and will run a second Dublin accelerator later this year. NDRC at Portershed in Galway is also due to commence in the coming weeks and ventures are currently being sought for NDRC at ArcLabs in Waterford.

NDRC’s portfolio of companies include Nuritas, SilverCloud Health and Boxever.

Photo: (l-r) Ken Morgan, Spire; Peter Clifford, MEG; Conor Wilson, Sproose; Edel Churchill, MEG; Kate Dempsey, Aqua Licence; Kerrill Thornhill, MEG; and Pat McKenna, Sproose (Pic: Shane O’Neill)