Funding for ICT Start-Ups in Ireland

sentio hero

Start-ups and small business funding

Sources of Funding

by Ilya Nikitin 

Knowing the difference between high growth technology start-ups and small businesses is critical when it comes to funding decisions. High growth technology start-ups are very different from other businesses. With a traditional small business the chances of succeeding in the first two years are high with an estimated 75% success rate. In contrast, a high growth technology start-up even with a great idea, a solid business plan backed with a strong team and investor has a 75% chance of failing (Compass.co, 2015). Keep reading

Waterford – At the Center of ICT Start-Ups?

Sources of Funding

By Guillaume Van Aelst

On the 26/11, I had a 2 hours presentation about “The Impact of Digital Technology – Implications for the Compliance Professional” for work related purpose.

During this presentation, I had the opportunity to listen to Barry Downes, CEO of TSSG (Telecommunications Software & Systems Group).

Before being the CEO of TSSG, Barry Downes was the founder of “FeedHenry”, which is an Irish startup cloud based mobile applications platform based in Waterford and Boston (USA).

“Red Hat” later bought this company for $82 Million in 2014.

Keep reading

Irish tech sector experiencing explosion of job opportunities

Trends & challenges

by Wicus Grobler

This week again Ireland and its ICT sector are in the news.  Silicon Republic’s Kristy Tobin wrote this article,  about the announcement of more than 500 new jobs.

In a related article in the Irish Times, Enda Kenny is quote as stating “The Government wants to keep the recovery going by providing the right environment for companies like Infosys to locate, expand and create jobs,”.

In a broadcast on CNBC, Martin Shanahan, CEO off the IDA, is explaining what a competitive and transparent tax systems Ireland has.

Keep reading

How to apply for a start-up grant in Ireland

Sources of Funding

by Ilya Nikitin

In my previous post, I discussed what every new entrepreneur should do prior to applying for a grant in Ireland. If you missed that interesting post you can read it here – “Things to do before applying for a start-up grant in Ireland”.

Once the first phase of your research is completed and you have received positive results from your marketing research you need to do three important things before applying for the grant:

  1. Register as a ‘Limited Company’ with a Business name
  2. Register for taxes
  3. Register your business bank account

Keep reading

20 Irish Start-ups and their Funding

Sources of Funding

by Guillaume Van Aelst

I came across this article called “20 Irish startups that will rock you the Celtic way!” which, as its name implies, discusses about 20 “emerging technology” start-ups founded between 2008 and 2015 in Ireland through (mostly) Irish funders

I am interested today in analysing the most common type of fund available to start-ups.

Instead of discussing this article as it was, I chose to produce a table out of it to make it more visual. Keep reading

“Show me the Money”

Sources of Funding

By Virginia Linehan

High growth technology start-ups rarely avail of bank financing due to the level of risk associated with the business. For that reason, private investment is sought to finance start-up and development costs for these technology based ventures (Enterprise Ireland, 2015). Enterprise Ireland (EI) identifies such ventures as High Potential Start-up (HPSU) companies. A HPSU, according to EI, is a business with the potential to develop an innovative product/service for sale on international markets with the potential to create 10 jobs and reach a target of €1m in sales within 3-4 years of start-up (Enterprise Ireland, 2015). It is important to note that a HPSU, as defined by EI, may not necessarily be a technology business. The type of funding is closely aligned to the company’s stage of development i.e. feasibility stage, investor ready stage or growth stage as illustrated below. An understanding of funding options available at each phase in the journey is important from the very beginning for any start-up.

Let us consider the funding journey and understand each player… Keep reading

How to fund your Start-up using Tax Reliefs and Incentives

Sources of Funding

by Piush Vaish

After years of working for someone else a person acquires the skills and knowledge to start a business. However the unavailability of start-up capital holds them back. Imagine using the tax you have paid on your hard earned money to be used for your own benefit. Is there a way you can use tax reliefs or schemes to make your dream a reality? Here are some of the tax reliefs and incentives available in Ireland which could offer a way to support your dream ICT start-up. Keep reading

My Pursuit to contact LaunchBox

Trends & challenges

by Piush Vaish

As a student of Trinity College Dublin, my first intuition was to get in touch with LaunchBox to get answers to the following questions for my blog:

  • What happens to the companies from inception to getting funding?
  • What are the challenges facing start-ups?
  • Do they stay in Ireland or sell the business as soon as the company achieves its targets?
  • Are there any case studies for successes or failures?

Keep reading

“The whole is greater than the sum of its parts”

Trends & challenges

By Virginia Linehan

A system is defined as “an organised, purposeful structure that consists of interrelated and interdependent elements (components). These elements continually influence one another (directly or indirectly) to maintain their activity and the existence of the system, in order to achieve the goal of the system” (Business Dictionary, 2015). Keep reading

Is Venture Capital For Me?

Trends & challenges

by Wicus Grobler

So before we continue, let quickly have a look at what Venture Capital is. According to on-line resources, venture capital is money or services that is provided to start-ups in the very early stages.  These monies are provided, to start-ups, in the interest of generating a return on the investment.  The return on investment is re-payed at either, the sale of the company, selling their share in the company, or the IPO (Initial Public Offering) of the company.  As part of the funding, the venture capitalists also require that the start-up sign over a significant portion of owner ship, and control over the decisions that the company makes.

Keep reading