DCU’s Ryan Academy is launching the third phase of its Propeller Venture Accelerator programme for early-stage technology start-ups on Monday 3rd September 2012. This three-month, award-winning accelerator offers a total package of €45 000 to entrepreneurs with winning ideas: €30 000 investment, office space, over 80 mentors (technical, specialists and serial entrepreneurs) and a Demo Day pitching session with investors and business angels.
Propeller, voted 7th Best Accelerator in Europe in a study commissioned by the Kauffman Fellows Programme, has adopted and adapted the successful Techstars model for the European market. It aims to accelerate early-stage technology start-ups with a special focus on software, Web 2.0, informatics, clean-tech and applications. To date, companies emerging from the Propeller programme now employ 49 personnel and have raised over €1.75 million in investment, with many company-investor discussions still ongoing.
Terence Bowden, Ryan Academy Venture Manager said, “Propeller has a proven track record in helping technology start-ups accelerate to the next phase of their evolution. We offer to our successful participants a comprehensive package of practical and financial supports and, through our extensive network of contacts in business and enterprise, access to a full suite of mentoring programmes and to further investment possibilities through our Demo Day at the end of the programme.”
- €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
- 7.5% equity stake, valuing your company at €600,000 Euro ($740,000 USD)
“Winning a place on the inaugural Propeller Venture Accelerator was like being plucked off the bus and placed on the bullet train for our business. We were given access to the most senior Irish business talent and an inside track to the Irish and international investment community”.
Paul Healy, CEO Fantom (online gaming company) and Serial Entrepreneur
“I found the network incredible. The amount of advisors and more importantly investors that I was introduced to was amazing.”John Joyce, CEO & Founder, Seoige Technology (developer of Savvybear.com)
“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 (homecare technology solutions)
The closing date for applications is 22nd October 2012 but applicants are encouraged to apply early and to engage with the Academy. The accelerator starts with the companies moving to Citywest on the 21st January 2013.
For more information please visit http://www4.dcu.ie/ryanacademy/propeller.shtml