New innovators target €2m investment as they grapple with the business world

By Maurice Garvey

THE latest entrepreneur development programme at IT Tallaght saw 13 innovators graduate from the Synergy Centre this week – all of whom are now equipped to take on the business world.

After completing the Enterprise Ireland New Frontiers programme at the Synergy Innovation Centre, the group is collectively targeting a total of over €2 million in follow-on investment, and plans to create up to 20 new jobs over the next 12-18 months.

For some, the fundraising has already kicked off with nearly €200,000 brought in to date, and a further €300,000 under negotiation.

New Frontiers is Ireland’s national entrepreneur development programme, delivered at local level by Institutes of Technology and funded by Enterprise Ireland.

New businesses emerging from Synergy this week address significant problems and opportunities in a broad range of sectors, from software to education, among others.

The programme started in IT Tallaght in 2000, and since its rebranding in 2012, over 120 participants have completed Phase 1, and over 60 have received significant funding and support during Phase 2.

Knocklyon man Matthew O’Sullivan (29), who co-founded online hospitality review platform Verivoo, scooped the €10,000 InvestStart award from Philip Lee Solicitors at the Synergy showcase event.

PhysioLinked, an online booking and practice management platform for physiotherapists and patients, won the AIB Supporting Startups Award and €2,500 in cash and funding for space at the Synergy Innovation Centre.

Thomas Stone, President of IT Tallaght said: “ITT and Synergy Centre are strengthening our position as the leading hub for knowledge-intensive innovation in South County Dublin.

“The New Frontiers programme has been a fantastic support for our participating companies where we aim to continue expanding our programmes.

“This includes plans to increase the numbers of contracts we have with industry for our research facilities and technology solutions, while also growing the engagement of our undergraduates and postgraduates in entrepreneurship development programmes.

“New Frontiers participants also benefit from interaction with our extended Synergy start-up community on the ITT Campus and in our Synergy Global Centre in Citywest.

“This includes 34 start-ups who are further along in their business development and fundraising journey and who share their experiences with our most recent arrivals in what is a very vibrant Incubation and Research networking environment.”

Eoghan Doyle, partner at Philip Lee and member of the judging panel for the InvestStart Award, commended ITT and the Synergy Centre “for creating a supportive and encouraging environment” for start-ups to develop.

Successful entrepreneurs, who have gone through the programme cite the structured supports as a critical factor in improving their success rate from an early stage.

Investors and funding agencies acknowledge the preparation achieved during the programme as a critical advantage for entrepreneurs pitching their ideas to them.