Business

Tech firms urged to apply for the Ignite NI accelerator programme

Participants in the 2019 Ignite NI accelerator programme
Participants in the 2019 Ignite NI accelerator programme Participants in the 2019 Ignite NI accelerator programme

TECH firms seeking to scale, raise capital and expand into new geographical markets have been encouraged to apply for the Ignite NI accelerator.

The programme is open to 10 high potential companies from anywhere in the world. In its first two years, teams from Australasia, Dublin, London, Cambridge and Edinburgh have relocated to take part.

The three-month programme runs from March to May 2020, out of one of Belfast’s Ormeau Baths tech hub.

Backed by Invest NI, teams who gain a place on the programme will receive a £23,000 convertible loan note. Firms relocating to the north get an additional £5,000.

Chris McClelland, programme director of Ignite NI, said: “It’s important to us that we have significant impact on businesses. At this stage companies will have something working but require a more efficient approach to things like go-to-market and, if needed, raising investment. Even within this last quarter we are pleased to see so many of our alumni raise multi-million-pound funding rounds from Northern Ireland and beyond as a result of the programme.

“The programme is also attracting more and more international companies. This really helps cultivate a more diverse community here, and is a testament to companies here being recognised on a global stage,” he said.

“Exposure to other entrepreneurs is key to helping founders move faster. That’s why we spend a lot of time curating people and investors that can have a positive impact. From founders of billion dollar venture-backed companies to successful bootstrapped companies, we are thankful to those that give up their valuable time to support these teams.

“Something special is happening in Northern Ireland’s start-up community, and we are keen to build upon that momentum. We are pleased with the impact of the programme and we are ambitious about how we can build upon that next year.”

Last year’s teams met tech sector leaders such as Hiten Shah, Claire Vo, Eoghan McCabe, David Singleton, Susan O’Malley, and Andy McLoughlin, as well as investors like Norwest Ventures Partners, ADV, Octopus Ventures and Passion Capital.

Teams who gain a place on the accelerator will also get the chance to apply for the ‘Ignite NI Landing Pad’, a competitive programme where five accelerator teams are supported to spend three months in the global technology capital, San Francisco.

The landing pad aims to give companies a head-start in the city, helping them to raise funding, grow sales and test the viability of the US market.