September Newsletter
Take a look at the start-up news from September, including updates on our founders, funding, events, and other ecosystem updates.
Furthr delivers a range of accelerator programmes designed by our experienced team of mentors. These accelerators are informed by our deep experience of advising businesses on how to grow and scale, and connecting them with investors since 1998.
Furthr brought the first seed venture fund to Ireland in 1998 and is now operating its 4th venture fund through Furthr VC. Furthr established the Halo Business Angel Network running it from 2006 to 2023. Collectively Furthr has facilitated over €200M of direct private (angel and VC) investment into over 700 companies in this time.
We know what investors think and this deep knowledge and experience informs our programme development.
You have the seed of a great business idea. You recognise/have identified a problem that needs solving. You may or may or not have a solution in mind which will solve this problem. You need to develop the ability to analyse the problem in greater depth and to understand the core elements that will shape a Minimum Viable Product (MVP) which you will design and test with key stakeholders in your potential business’s ecosystem.
From the discovery you have done in the Explore & Design phase, you will complete your MVP and refine your value proposition and potential business models. You need to develop the ability to robustly test this in market with early adopters, evaluate the market responses to it and adjust/iterate to work towards initial product market fit and a strong V1 of your product/service. You will commence preparing for investor contact.
From the validation done in the Validate & Evaluate phase you have validated strong initial product market fit for your product/service and have a strong V1 of your product or service. You are now raising or have raised a seed investment round and are proactively selling your product or service to early customers in your serviceable obtainable market. You need to build out your core team and optimise your operations. You need to develop compelling investor documentation which will wow investors at due diligence stage.
You have a clearly defined commercial/technical roadmap for your business. You are continually improving your product/service offering and optimising your sales approach. You need to develop your network and operational capability to enable your organisation to grow exponentially and internationally.
A one-day pre-accelerator workshop to help ambitious founders get started on the right path, uncovering the fundamentals of the entrepreneurial journey.
This is an interactive and practical insightful one-day workshop led by two of our experienced Furthr consultants.
A 12-week accelerator programme for ambitious Startups who are looking to raise pre-seed funding nationally or internationally.
This is a highly interactive in-person programme, result focused, with small cohorts. The programme will be delivered at the Guinness Enterprise Centre where selected Start-ups will also be provided with programme dedicated office space.
An Enterprise Ireland programme
The Venture Build programme, delivered over a six-month period has been designed specifically for Enterprise Ireland HPSU clients who are engaged in DeepTech and Life Sciences research. It addresses the key challenges facing them and their team in commercialising their research.
An Enterprise Ireland programme
Prep4Seed is delivered by all 4 Irish BICS (Furthr, South-East BIC, Cork BIC, West BIC) in collaboration with Enterprise Ireland. A 3-month programme designed to support Enterprise Ireland HPSU clients in identifying and delivering critical milestones required to progress their business and raise investment in their seed round.
A one-day pre-accelerator workshop to help ambitious founders get started on the right path, uncovering the fundamentals of the entrepreneurial journey.
This is an interactive and practical insightful one-day workshop led by two of our experienced Furthr consultants.
Delivered by Furthr with the support of Enterprise Ireland.
A 12-week accelerator programme for ambitious Startups who are looking to raise pre-seed funding nationally or internationally.
This is a highly interactive in-person programme, result focused, with small cohorts. The programme will be delivered at the Guinness Enterprise Centre where selected Start-ups will also be provided with programme dedicated office space.
Delivered by Furthr on behalf of Enterprise Ireland, the Venture Build programme, delivered over a six-month period has been designed specifically for Enterprise Ireland HPSU clients who are engaged in DeepTech and Life Sciences research. It addresses the key challenges facing them and their team in commercialising their research.
Prep4Seed is delivered by Furthr and the Irish BICS on behalf of Enterprise Ireland. A 3-month programme designed to support Enterprise Ireland HPSU clients in identifying and delivering critical milestones required to progress their business and raise investment in their seed round.
Take a look at the start-up news from September, including updates on our founders, funding, events, and other ecosystem updates.
Take a look at the start-up news from August, including updates on our founders, funding, events, and other ecosystem updates.
Over 40 Furthr-supported start-ups featured in Business Posts Hot 100 Start-Ups list.
When we talk about accelerators and incubators, we’re essentially discussing programs that are designed to support and boost the growth of start-ups, particularly in their early stages.
Firstly, let’s tackle incubators. These are typically programs or organisations that provide start-ups with a nurturing environment to develop and grow. In Ireland, incubators often offer a range of resources including office space, mentoring, and access to a network of industry professionals. They can be funded by a variety of sources – from government initiatives to private companies. A key characteristic of an incubator is the length of support, which can range from a few months to several years depending on the start-up’s needs. The National Digital Research Centre (NDRC) is an example of an incubator in Ireland that has supported hundreds of start-ups since its inception.
Now, onto accelerators. While they share some similarities with incubators, there are some key differences. Accelerators are more like boot-camp programs for start-ups. They’re intensive, typically lasting around 3-4 months, and aim to accelerate the growth of a start-up in a short span of time. They offer mentorship, funding (often in exchange for equity), and educational components culminating in a public pitch event or demo day. The goal is to help start-ups refine their business models and products while gaining exposure to potential investors and customers. A notable accelerator in Ireland is Furthr’s own accelarator programme which has helped various start-ups gain traction.
While both accelerators and incubators offer valuable resources for start-ups, the best choice depends on the specific needs and stage of the business. An incubator might be best suited for a business in the very early stages that could benefit from a nurturing environment to develop its ideas. On the other hand, a more established start-up aiming to scale rapidly might be better off in an accelerator program.
Remember, whether you choose an accelerator or an incubator, what’s most important is that the program aligns with your start-up’s needs and goals. It’s all about finding the right fit – just like a good pair of shoes, one size doesn’t fit all when it comes to supporting start-ups!
At the most basic level, startup accelerators are programs that provide startups with mentorship, education, and financing, typically in exchange for a portion of equity. They’re like a boot camp for startups, condensing years of learning and networking into a few intense months.
Now, let’s take a closer look at the specifics using Furthr as an example. Furthr is an Irish-based platform that offers a wealth of resources for startups, including a startup accelerator program.
The first step in the process is the application. Startups apply to be part of the accelerator program. Furthr, like many accelerators, is looking for innovative startups with high growth potential. They’re also looking for teams that are passionate and dedicated because running a startup isn’t easy and requires a significant commitment.
Once accepted into the program, startups embark on an intensive journey of business development. They receive mentorship from experienced entrepreneurs and industry experts who provide guidance on everything from product development to marketing strategy. Furthr, specifically, offers mentor-led masterclasses to help startups navigate the often complex world of entrepreneurship.
Alongside this, there’s the education component. Startups learn about important business concepts and strategies through workshops and seminars. This could cover anything from understanding your market and competitive landscape to financial management and fundraising strategies.
And then there’s the financing. Many accelerators provide seed funding to help startups get off the ground. In return, they usually take a small equity stake in the company. Furthr is unique in that it doesn’t take equity from the startups they support; instead, they focus on connecting these startups with potential investors through their extensive network.
Lastly, most accelerators culminate in a Demo Day where startups present their progress and pitch their business to a room full of investors. It’s a great opportunity for startups to showcase their potential and attract additional funding.
In essence, startup accelerators like the ones provided by Furthr offer a supportive environment that can significantly speed up a startup’s growth journey. They provide access to invaluable resources, mentorship, and funding opportunities, making the arduous process of launching and growing a startup much more manageable.
Startup accelerators are programs that provide startups with mentorship, office space, and often some form of funding in exchange for equity in the company. They’re designed to expedite the growth of startups during their earliest stages, hence the name “accelerator.”
Now, let’s take a closer look at how they make money, especially as it pertains to accelerators in Ireland.
It’s important to remember that not all accelerators are the same. Some may rely more heavily on one revenue source than others. For instance, some accelerators may not charge a program fee but take a larger equity stake in the companies they accelerate.
*Contacting Furthr is a great resource for finding accelerators in Ireland, and it provides some insights into operations as well.
It’s also worth noting that while accelerators do aim to make money, many of them also have a broader goal of fostering innovation and supporting entrepreneurs. The revenue they generate often goes back into the accelerator, allowing them to provide more resources and support to future startups.
Business accelerators are specialized programs designed to help new start-ups grow and succeed. They’re a bit like a crash course in Business 101 but tailored for innovative, often tech-focused companies.
In the context of Ireland, business accelerators have become increasingly popular and pivotal within the start-up ecosystem. They provide a fantastic platform for fledgling businesses to gain critical knowledge, mentorship, and often some seed capital.
Programs typically last for a few months, during which time start-ups receive intensive training and mentorship to refine their business models, strategies, and products. The goal of these accelerators is to speed up the growth process of start-ups, hence the term “accelerator.”
Remember, each accelerator has its own application process and acceptance criteria, so it’s essential to do your research before applying.
In summary, business accelerators in Ireland offer a unique blend of mentorship, resources, and funding to help start-ups navigate the often turbulent waters of business growth. They are an invaluable resource for any start-up looking to accelerate its success.
Furthr
Guinness Enterprise Centre
Taylors Lane
The Liberties
Dublin 8
D08 A36K
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