New solutions designed for high growth start-ups

Author

Helen Smyth, PR & Media Relations
Invest Northern Ireland
Nov 13, 2017

Invest NI is amplifying the landscape of support on offer in Northern Ireland with a focus on high potential start-ups.

New pre-accelerator and accelerator programmes are starting up in Northern Ireland in 2018 which will be delivered by IGNITE, the renowned UK-based start-up support and investment network.

The programmes will offer workshops, tutorials, networking opportunities, mentoring, financial support and access to investment. This support will be based out of Belfast’s newest start-up hub, Ormeau Baths.

Propel Pre Accelerator

  • 6 month pre-accelerator programme
  • £15k grant available to each start-up selected to join the programme
  • Available for up to 20 businesses that have the potential to scale, reach significant export growth and secure external investment.
  • Up to 12 months free co-working at Ormeau Baths, Belfast’s newest start up space
  • Designed to maximise the number and impact of innovative and sustainable high growth export orientated businesses established in Northern Ireland
  • Register your interest to apply

IGNITE Northern Ireland

  • Intensive 3 month accelerator programme commencing March 2018
  • Coaching and mentoring from experience entrepreneurs, investment readiness workshops and the opportunity to pitch to leading Angels and VCs
  • £15k seed funding by way of a convertible loan note
  • Up to £100,000 Amazon Web Services, Google Cloud or Azure Credits
  • Up to 9 month’s free co-working at Ormeau Baths, Belfast’s newest start up space
  • US trip to meet founders and investors in San Francisco & New York
  • Supporting up to 10 technology based high potential start-ups including up to 5 FDI teams
  • Help to access early stage venture capital/angel investment and rapidly scale in export markets
  • Teams should be able to reach £1m in turnover in three years with 60% of sales from outside Northern Ireland
  • Applications will open in December 2017

Support for high potential start-ups

The Propel pre-accelerator and IGNITE Northern Ireland form part of Invest NI’s continuum of support for high potential start-ups.

They have been designed to fit in with the rapidly growing landscape of support available to start-ups in Northern Ireland. Current solutions open to the start-up community include Catalyst Connect, Entrepreneurial Spark, TechStart NI and the council led Go for It programme.

Launching the programmes, Stephen Wightman, Head of Business Solutions, Development & Compliance commented: “There is a wealth of talent and potential in Northern Ireland who need the right investment, advice and support.

“These new programmes are the outcome of Invest NI’s commitment to develop and refine our approach to help expand the number of business with significant growth potential.

“We want to make Northern Ireland the best region in which to start and grow a business and are working towards building an entrepreneurial ecosystem conducive to the growth and development of high growth start-ups.

The Propel Pre-Accelerator and IGNITE Northern Ireland form part of a coherent set of solutions available in Northern Ireland to maximise the growth and economic development of early stage high potential start-ups with the potential to rapidly scale in global markets.

- Stephen Wightman, Head of Business Solutions, Development & Compliance

“The Propel Pre-Accelerator and IGNITE Northern Ireland form part of a coherent set of solutions available in Northern Ireland to maximise the growth and economic development of early stage high potential start-ups with the potential to rapidly scale in global markets.”

About IGNITE

IGNITE is a globally recognised brand and the company has experience in delivering world class programmes aimed at building international scalable businesses.

Our aim is to harness the entrepreneurial mentality in Northern Ireland.

- Tristan Watson, Managing Director of IGNITE

Tristan Watson, Managing Director of IGNITE added: “Our aim is to harness the entrepreneurial mentality in Northern Ireland. We want to help accelerate the development of the brightest and best talent by giving them world class support and mentoring.

“We believe that the Propel pre-accelerator and IGNITE Northern Ireland serve to help retain value within the Northern Ireland start-up ecosystem but at the same time provide access to more established markets and access to funding that helps them go global.”

Entrepreneurs participating on IGNITE Northern Ireland and the Propel Pre-Accelerator will benefit from support across IGNITE’s international networks of investors, entrepreneurs and mentors that will be matched to the specific needs of the participating start-up.

Invest NI will also be offering support and advice to help participants reach their growth potential.

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