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NDRC Start-ups Thrive: €60M Raised in Funding Rounds!

Early-stage tech companies participating in schemes run by the national startup accelerator have raised around €60 million over the past three years, new figures reveal.

Additionally, collectively, the NDRC portfolio companies raised €180 million and created 650 jobs over the same period. The news comes as the agency that runs NDRC (National Digital Research Centre) got a two-year extension to administer the scheme.

The founder-first, entrepreneur-led focus woven throughout the programs has raised over €56M through startups participating in the programs in the last 3 years alone, and €180M through the entire NDRC division in the same period of the same, which has created jobs, and helped thousands of individuals in various fields of education.

Entrepreneurs across the country received almost exclusive support and guidance from a variety of countries including Open.AI, Google, Stripe, Fidelity, ESB, Microsoft, Unilever, etc. For example, Open.AI provided €25k credit for a special NDRC Hackathon in partnership with ISE courses at the University of Limerick.

A new NDRC Women Entrepreneur Network was created during this period which now has 400+ members, and to date, 30% of NDRC accelerator investments are in women-led or co-led businesses.

NDRC then reinvests in other initiatives that help create global digital companies, and pilots such as the Founder Talent Accelerator, 2050 Sustainability Accelerator, First Fridays for Startups, Patch Youth Accelerator, and the NDRC Women Entrepreneur Network -Funded program.

For the past 3 years, NDRC has introduced and opened up the founder-friendly SAFE financing tool. In addition, the NDRC has facilitated the identification of more than 600 investment indicators, enabling strategic investments in Irish startups, from Ireland and abroad.

Conclusion: The recent fundraising by NDRC startups of €60 million in funding underscores the important role the organization plays in promoting innovation and sustaining business success so that as these businesses continue to grow and expand their footprint, they not only contribute to Ireland’s economic growth.