Propeller relocates to Silicon Docks
Propeller, one of Ireland’s leading start-up accelerators is coming to Dublin’s Silicon Docks and is now open for business. Applications are sought from early-stage, hi-tech start-ups with deep domain expertise, B2B experience and massive scalable potential to take part in this five-month programme right in the heart of Dublin’s tech quarter.
The deal on offer from the Ryan Academy is a cash injection of €30k towards business operating costs, complemented by a €15k package to include participation in the 5 month accelerator, working space in The Liffey Trust Centre, access to the DCU Ryan Academy’s extensive pool of investors and experienced mentors, and a full programme of workshops.
Drew O’Sullivan, Director of Propeller and an experienced venture capital investment manager, outlined the special expertise on offer to start-ups,
“At DCU Ryan Academy, we manage our own portfolio of high-calibre, blue-chip mentors and angel investors, developing an ecosystem which enables these experienced investors and successful entrepreneurs to invest their money, expertise and networks in helping really smart start-up teams accelerate their development. Since its establishment in 2010, companies accelerated by Propeller have leveraged €5.7m in private funding following the initial Ryan Academy funding of €1m. Propeller is evidence of the really good things that can be done for startups with smart private money.”
Ranked the 7th best accelerator in Europe by Kauffman Fellows, Propeller has developed a growing reputation internationally, with 45% of applicants now coming from abroad. With a ratio of 25 applications to each successful participant, it has become one of the most competitive and sought-after accelerators on the island.
Simon Dempsey, CEO of LikeWhere, the innovative travel app, highlighted how Propeller fast-tracked his business in 2013,
“Propeller provided our core team with a window of opportunity that enabled us to focus on our project full-time for the first time. The accelerator process is exciting, painful, energising and exhausting all at once – our business was rattled until we had the basis of a product that might just work. The Ryan Academy and Propeller team helped us take an honest view on what we were building, with much of the feedback we received still being applying today.”
For further information and to apply for Propeller 2014, visit http://www.ryanacademy.ie/accelerators/propeller-venture-accelerator. The closing date for applications is Friday 28th March 2014.