'Too many startups run out of time, energy and money'
Entrepreneur, Pat Phelan and General Manager Frank Brennan at The Republic of Work on Cork's South Mall which will deliver programmes in the South East of the country. Picture: Michael O'Sullivan
A new support scheme for potential new businesses is aiming to create globally scalable and innovative tech startups.
A range of training and support sessions will be delivered across Ireland by Republic of Work in Cork, Dogpatch Labs Dublin, Portershed Galway and RDI Hub Kerry.
The programmes are built with a regional mindset, embedded in the community, and drawing on entrepreneurial experience across Ireland.
The Pre-Accelerator will help entrepreneurs validate their startup idea with customers, structure it to get investment, and prepare to get accepted onto the NDRC Accelerator.
Over the course of six days across six weeks, early-stage startups take part in workshops delivered by successful founders, receiving one-to-one feedback from entrepreneurs and stress testing their pitch with real investors in mock boardroom meetings.
The Pre-Accelerator ends in a virtual demo day pitch, broadcast live to investors, VIP entrepreneurs and potential customers. Republic of Work’s General Manager Frank Brennan said their local programme, covering the South East of the country, will provide entrepreneurs with a viable path towards a new set of supports.
Cork entrepreneur Pat Phelanwho founded fraud-detection firm Trustev said it was important that entrepreneurs have the chance to release their potential.
“When you’re just starting out, support from mentors and other entrepreneurs can be a life-line," he said.
"Too many startups run out of time, energy and money too fast due to a lack of structure and commercial focus, and pre-accelerators are a great opportunity to test the market and put a solid shape on an idea or concept before seeking investment."
The early-stage programmes do not take equity in the companies and are free for accepted teams. The first NDRC Pre-Accelerator runs from March 29 - May 7th.
Established in 2006, the NDRC is a Government initiative to invest in very young digital enterprises and start-ups. NDRC supports have been designed to complement and run in parallel with other startup resources such as Enterprise Ireland Competitive Startup Fund, New Frontiers and HPSU Match Funding.
