Loranocarter+dublin, a new Irish startup accelerator, announced today (Friday, September 8th) that it has invested €100,000 in two Irish startups. The accelerator is open to early-stage companies from Ireland and allows them to work with a panel of experienced mentors to develop their businesses. The two startups chosen for the investment are Driplytics, which offers water recovery technology for businesses and home users, and Qwikster, which provides an online platform for small businesses to self-serve their billing and invoicing needs.
What is loranocarter+dublin?
Launched in December 2016, Loranocarter+Dublin is Ireland’s first accelerator and business development program dedicated to supporting startups from the Republic of Ireland. The five-month program offers startup founders access to mentorship, office space, networking opportunities, and funding.
Since its launch, Loranocarter+Dublin has invested in six startups, three now operating as standalone businesses. Among the companies that have benefitted from the accelerator program are Dublin-based meal delivery service Menuly and the online marketplace HootSuite Ireland.
How does the accelerator work?
Loranocarter+dublin is a local startup accelerator that invests in startups from Ireland. It was founded in 2016 by Eoin O’Brien and Aoife Foley. The accelerator offers a three-month residency at its Dublin office and access to its resources, including mentorship and funding opportunities.
The accelerator aims to support Irish startups through funding, networking, and expertise. It has already invested in nine startups, including Apptio Ltd., which develops an automated system for managing staff hours; Dromaeo Ltd., which sells dietary supplements based on natural ingredients; and CuddleBots Inc., which makes soft toy robots to help children with anxiety disorders.
What types of startups can apply?
Loranocarter+dublin, an accelerator and business mentorship organization, has announced that it is investing in Irish startups. The accelerator will provide funding, office space, and mentorship to three Irish startups over the next twelve months.
The winners of the investment are Airtable, a customer management software startup; Groundfloor Ventures, a venture capital firm focused on early-stage technology companies; and Hanover House Ventures, which provides commercial finance for innovative businesses.
Loranocarter+dublin said that its investment is part of its mission to “support the growth of tomorrow’s businesses in Ireland.” The accelerator has already invested in several other Irish startups, including Blinkist and MySociety.
How many startups have received funding from loranocarter+dublin to date?
Loranocarter+Dublin has been investing in Irish startups for over two years now. The accelerator has invested in 27 companies, with an average investment of €10,000. The accelerator has raised €157,000 from angel investors and institutional investors.
In a recent news article, local startup accelerator loranocarter+dublin announced that it was investing in Irish startups. The accelerator was founded by entrepreneurs Eoghan Dempsey and Davy Byrne, who also have venture capital backgrounds. This investment follows previous investments from the accelerator in companies like Hootsuite and GoCardless.