Category: Sources of Funding

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

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

Startup funding institutions in Ireland (Part 3):

Sources of Funding

by Guillaume Van Aelst

Today I reviewed 5 new funding institutions (most specialised in Venture capital). With a list of 13 companies so far, I have reasons to believe I may be able to make another list next week and maybe reach 20. My findings so far are that there are many institutions wanting to invest in start-ups in Ireland, not just governmental ones, but banking institutions and event private ones wanting to be part of it. The main issue I am having is to dig all of those throughout the vastness of the internet… Keep reading

What makes NDRC a good incubator?

Sources of Funding

By Piush Vaish

As I was sifting through some research material the following headline caught my eye.

“NDRC ranked no. 2 University Business Accelerator in the world by UBI Global Index (LEONARD, 2015)”

I was motivated to find out about NDRC – What is it and what does it do? In the same way, I was curious about UBI global. What is the methodology used to rank these university associated/university affiliated incubators and how is NDRC doing so well in the ranking? What makes NDRC a good incubator in the eyes of the perspective of an entrepreneur? Keep reading

Startup funding institutions in Ireland (Part 2)

Sources of Funding

by Guillaume Van Aelst

Following my recent post listing 4 of the different institutions which provides with ways to getting your startup funded in Ireland, here is my second selection of 4 companies available in Ireland.

Next week, I will try to continue with this list although the information available starts to get scarce…

Keep reading

What is Microfinance Ireland?

Sources of Funding

by Piush Vaish

According to Central Statistics Office, in 2012 the majority of enterprises (90.7%) in the business economy in Ireland are microenterprises (Office., 2012). Given the size and importance of microenterprises, Microfinance Ireland was formed as part of the Government’s Action Plan for Jobs in October 2012. The state backed loan fund provides loans of €2,000 up to €25,000 to businesses employing ten people or less. In the period from its inception to 30th June 2015, Microfinance Ireland has provided €9.303M value of Keep reading

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