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Nurturing digital growth

Ben Hurley, CEO of NDRC, discusses how the digital startup sector is key to growing a more resilient, innovation based economy.Ben Hurley, CEO of NDRC, discusses how the digital startup sector is key to growing a more resilient, innovation based economy.

As CEO of NDRC since 2007, Ben Hurley has worked with hundreds of entrepreneurs, including the teams behind Soundwave, which was purchased by Spotify earlier this year, Nuritas, Logentries and Boxever, to name a few. It is not always the idea that makes a company stand out he says, it is the depth of knowledge and the dynamic of the team that can make all the difference.

The approach to selecting exceptional teams is clearly working. This year NDRC reported €125 million in cumulative follow-on investment for new enterprises emerging from the company’s investment programmes. Helping to copper-fasten Ireland’s reputation as a place of significance when it comes to indigenous technology talent and innovation.

As the earliest stage investor in young technology startups, NDRC’s work complements the research and feasibility supports provided by Enterprise Ireland (EI) and Science Foundation Ireland (SFI). NDRC accelerates the business concepts emerging from these programmes, the third level sector, and elsewhere in the economy.

Its model of working is unique, it does not provide grant-in-aid support but rather provides modest amounts of investment when no one else will, then provides intensive commercial expertise and development support to new ventures, getting them investor-ready. One of NDRC’s strengths is its links with investors, NDRC’s track record of success mean investors view the organisation as a very effective primer and filter for quality startups.
“Entrepreneurs are not always the showman or the show woman that the more popular stereotypes might suggest,” explains Hurley. “They need expert help and commercial insight to understand what the market will expect of them and their company.

“Startups matter because they are a key indicator of the health of the economy as a whole, they are a litmus test of whether the talk about the knowledge based economy is fantasy or reality. One only has to look at London, Berlin or Silicon Valley to see the link between startups and innovation.”

Ultimately, he believes NDRC is about fostering indigenous young Irish companies of value that create high-skilled, high-value jobs within the economy. And ensuring we have sustainable, innovation-led entrepreneurial activity that expands the breadth of the economy.

What is NDRC?
• Established by the Government in 2007 and supported by the Department of Communications, Climate Action and Environment.
• Based in the Digital Hub in Dublin 8.
• Very early stage investor in technology companies.
• In addition to early funding, provides intense commercial expertise and support through its programmes.
• Works closely with Enterprise Ireland, Science Foundation Ireland and the third level sector.
• Ranked the number two university business accelerator in the world at the international UBI Awards.

NDRC?
• 200 companies invested in.
• 564 direct jobs created.
• NDRC ventures secured over €125 million in follow on investment.
• In 2015, 76 per cent of NDRC ventures were from Ireland and 24 per cent from abroad.

 

NDRC
Tel: 01 480 6252
Email: info@ndrc.ie
Web: www.ndrc.ie

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