A business incubator is an organisation that helps new and startup companies to develop by providing services such as management training or office space. There are plenty of options in the Irish market.
Advantages: Access to considerable sums of money & relevant mentoring expertise.
Disadvantages: Intensive mentoring can be a burden in some cases also many incubators will demand a considerable equity stake.
Ranked as the number 1 IT incubator in the market, they are a serious player offering mentoring and support in the initial stages.
What you get: Up to €100,000 for technology intensive startups from the VentureLab programme.
Advantage: Intensive 12 week mentoring programme where consultancy is provided for all aspects of the business.
Disadvantage: Constant mentorships can distract your focus during the early stages.
What you get: A maximum of €30,000 for a three month accelerator.
Advantages: Access to office space and a bouquet of different mentors with a range of expertise.
Disadvantage: 7.5% of equity is required in return.
One of Ireland’s leading digital start-up accelerators.
What you get: Up to €50,000 with support from a collection of experts in different fields.
Advantage: Access to a network of international customers.
Disadvantage: A lot of micro management will come with the seed capital.
Berlin-based accelerator programme that connects your team, your vision and your expertise with the power of the EU's Future Internet Public Private Partnership Programme (FI-PPP). They can help you if you manage to put an e-learning, gaming, smart cities, or smart tv in your startup.
What you get: Up to €250k is available to start ups that meet the criteria.
Advantages: Considerable sum of money on offer and no equity requirements. They will also do all the paperwork for you.
Disadvantage: There is a necessity to travel to Berlin for various meetings.
Other incubators worth looking at:
• Mastercard’s e-commerce-focused accelerator (www.startpath.com)
• NovaUCD (www.ucd.ie/innovation/entrepreneurs/)
• Dogpatch Labs (www.dogpatchlabs.com)
• Startupbootcamp Ireland (www.startupbootcamp.org/europeans-cities/dublin)
• Ignite Incubator Programme (www.ucc.ie/en/ignite)
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