The Local Enterprise Office for Dublin City has provided over €2.25 million in funding for tech-sector businesses since it was established in April 2014. That’s according to a report released on 30 October 2018 which highlights the supports available for tech start-ups and entrepreneurs in the capital city.
According to the report, ‘Driving Dublin’s tech growth: how Local Enterprise Office Dublin City is helping tech companies start and grow’:
157 tech businesses received financial support from the Local Enterprise Office since it was established in April 2014;
On average, the Office invested €610,771 in tech businesses each year for the past four years; and
The Local Enterprise Office’s support has led directly to the creation of over 240 jobs in tech businesses in Dublin since 2014.
Commenting today, Dave Connolly, Business Advisor at Local Enterprise Office Dublin City, said: “We provide investment and other supports to start-ups and small businesses, with the tech sector accounting for one-quarter of all our clients.
“This is the most active sector we work with. So far this year, 53 per cent of all funding we’ve approved has been for tech businesses. These range from medtech start-ups and data analytics firms to e-commerce platforms and lifestyle companies.
“Each year, we help in the region of 40 tech clients. So far this year, we’ve provided €340,000 in funding to 23 tech businesses. The funding and other supports we provide help these businesses to build their staff teams; expand into new markets; and move from early-growth stage to high-potential start-ups.”
The report launched today features case studies of some of the tech businesses supported by Local Enterprise Office Dublin City over the past four years, including:
Coroflo: a device that records how much milk a baby is receiving when being breast-fed. The company received a Feasibility Study Grant of €15,000 from Local Enterprise Office Dublin City to fund their first prototype, allowing them to test and enhance their core technology. They went on to raise €650,000 from investors last year, and drew praise from Richard Branson after winning the Dublin Virgin Media Business Voom Tour mini-pitch competition. They expect to bring their product to market in coming months, and are preparing to launch in the UK in 2019.
Olytico: a digital analytics firm, established in 2009. In 2017, Olytico received the Local Enterprise Office’s Business Expansion grant; and the company has also received the Technical Assistance for Micro-Exporters Grant, which allowed it to explore and develop new market opportunities.
usheru, which specialises in analytics for the film industry and makes it easier for film marketing campaigns to link into the cinema ticketing process. usheru has received €40,000 in funding from Local Enterprise Office Dublin City, including a Priming Grant to grow their staff team; and a Business Expansion Grant, which helped them transition out of their start-up phase. The company now operates in both Dublin and London.
CliniShift: described as the ‘Uber of healthcare’, CliniShift is an online platform that connects hospital managers with hospital staff to ensure shifts get filled efficiently. Since receiving funding of €30,000 from LEO Dublin City, CliniShift has opened additional offices in North America and the UK, and has won a range of innovation and start-up awards.
DwellDown, a platform for renters to rate the standard of their accommodation, with the aim of increasing transparency in the private rented sector. The start-up received funding of almost €10,000 from Local Enterprise Office Dublin City to research the viability of its business model.
patientMpower: a healthcare company providing digital therapies to people with lung and kidney disease. In 2017, patientMpower received
funding of €32,250 from Local Enterprise Office Dublin City through a Priming Grant and, subsequently, a Business Expansion grant. Earlier this year, it was named one of three overall winners at the IPF Catalyst Challenge in Chicago, taking home a cash prize of $333,000.
Commenting at the report launch today, Pati Matsushita, Creative Director of usheru, said: “The support we received from Local Enterprise Office Dublin City was invaluable when we were setting up our business. usheru is now operating in both Dublin and London, and the funding we received was a big help in moving us beyond the start-up phase and into new markets.
“I would highly recommend anyone starting out in tech in Dublin to get in touch with the Local Enterprise Office and see what support is out there. In addition to funding, the networking, mentoring and business advice clinics offered by the Office are invaluable.”