Business

Deadline fast approaching for Propel 2020 pre-accelerator programme

Phil McElnay, chief executive of MedAll

EARLY stage start-up founders have just 10 days left to apply for one of the north's most competitive pre-accelerator programmes.

IgniteNI's Propel 2020 is an intensive six-month pre-accelerator supporting early-stage companies stress test their ideas and helping them launch a product to market.

Run by Ignite NI and supported by Invest NI, the programme is seeking idea stage pre-launch companies and people working in existing tech jobs looking to make their side project a reality.

The companies who secure a place on the coming programme, which starts in January, each receive a £15,000 equity-free, 12 months free co-working space in one of the UK's top co-working spaces, the Ormeau Baths, and the opportunity to meet more than 300 experienced mentors, founders and investors. Applications are due to close November 8.

In its first six months, the 2019 programme saw teams go from a basic concept to over 350 customers in more than 40 countries; closing deals in Asia; raising money; and generating five figure monthly recurring revenue.

Phil McElnay, chief executive of MedAll, who was working as a surgeon before Propel 2019, launched his collaborative network for medics on the programme.

“The programme helped us focus on our mission and our users rather than our product,” he said.

“No longer were we just building an app, we were forming a community of healthcare professionals who wanted to collaborate to radically improve healthcare.

“The support I received from Propel pushed me to launch MedAll. It's like adding a set of super experienced founders to your team overnight who care very deeply about your success. Within three weeks, we grew to 1,000 customers helping medics across the UK collaborate on ground breaking research.”

As part of the programme, teams get the opportunity to explore other markets, attend weekly workshops with experts, pitch to top investors and access a network of over 500 Ignite alumni founders who between them have raised more than $100m. Teams that excel in the programme also have the chance to add an extra £20,000 in funding by winning awards.

Enjoy reading the Irish News?

Subscribe now to get full access

Today's horoscope

Horoscope


See a different horoscope: