Business
Incubator programme for innovative start-ups
Bank of Ireland is calling on all Galway technology startup companies to apply for one of seven places on the startlab Galway programme, a six month intensive business development, mentoring and networking incubator programme for innovative tech businesses.
startlab Galway aims to develop entrepreneurial activity in the West of Ireland and strengthen the local infrastructure and supports available to entrepreneurs at the critical early stages of establishing a company.
Based in a custom-designed Bank of Ireland building on Eyre Square, the seven companies who successfully progress to the programme will benefit from a range of complementary facilities including desk space, high-speed wifi, conference rooms as well as one-to-one sessions with key coaches and mentors, introductions to investors and support from Bank of Ireland’s Innovation Team.
The companies will embark on a six month curriculum which includes sessions on business model validation, lean methodology, building strategic partnerships and stress-testing the product / market fit.
The programme is designed to educate, connect and scale the technology startups and, once completed, businesses will participate in a ‘Demo Day’, with the opportunity to pitch to industry leaders, venture capitalists and investors. Applications are now open at www.startlabhq.com
Startups involved in the last incubator programme which finished in August have had fantastic success since partaking in the programme and some have secured significant investment from VC funds.
Speaking about how they found the programme, Siobhan Ní Chofaigh, MintTek Circuits, said: “The very first thing that we felt when we got into the BOI startlab in 19 Eyre Square was like a real company.
“We had been working from a home office and the energy and work environment of startlab was exactly what was needed. startlab got us back on track. Our first month saw sales grow by 40% month on month. In the six months we created more customers, sales and partnerships than in the previous 12. Tracy and the team were always around to help overcome challenges. If we needed help or a connection the digital rolodex was opened up and that connection was made, instantaneously.”
Discussing the startlab Galway programme, David Tighe, Head of Innovation, Bank of Ireland said: “The West of Ireland is a hotbed of innovation and our last intake of startups are testament to the quality of emerging business talent in the region. startlab, through its customized programmes, focuses on helping businesses to develop their teams, fine-tune their ideas and engage potential customers and investors.
“Supporting and empowering startups is at the heart of Bank of Ireland’s enterprise ethos and we look forward to working with our new entrepreneurs over the coming months.”
For more information follow @BOIStartups account, email tracey.keogh@boi.com , call into startlab Galway, Bank of Ireland Workbenches in Dublin and Galway, or visit startlabhq.com.
The new President of Local Ireland, the association representing local news publishers around the country, is Head of Irish Times Regionals Dan Linehan.
Mr Linehan takes over the presidency from Declan McGuire of the Connacht Tribune. His appointment was confirmed at the recent Annual General Meeting of Local Ireland at Bloomfield House Hotel near Mullingar, Westmeath.
Mr Linehan, who has served as Vice President of the organisation for the last two years, said: “The coming years are a very important time for local publishers with many important issues to be addressed, including the implementation of the Future of Media Commission recommendations, defamation reform, the role and support for local publishers in public service reporting and helping publishers develop commercial digital offerings.”
Speaking at the AGM, Mr McGuire acknowledged the work done by the Executive in the past two years under the direction of Executive Director, Bob Hughes, on several projects related to the publishing industry but most especially the successful conclusion of the long-running campaign for the abolition of VAT on newspapers.
He also wished Mr Linehan the very best in his new role as President of the association for the next two years.
Mr Hughes thanked Mr McGuire for his leadership and support during his term of office and said he looked forward to working with Mr Linehan on the key policy priorities for the association, including Government supports, Government advertising, fair remuneration for content from the tech platforms and the reform of the legislation for defamation.
Local Ireland members also elected Seán Mahon, Managing Director of the Southern Star, as Vice President for the next two years.
The shortage of affordable housing is the single biggest impediment in attracting and retaining workers in the West, according to business group Ibec.
At a ‘Regional Insights Series’ meeting in the Galmont Hotel in Galway last week, employers were told that capacity constraints and labour supply are the key challenges facing business growth in the region.
Ibec Head of Regional Policy Helen Leahy said: “There must be greater focus by government on enhancing quality of life issues such as housing and infrastructure which are driving labour shortages in the region.
“Ibec’s vision for the West is to realise its potential to become a globally competitive location. An inadequate supply of affordable housing is now the single largest impediment to attracting and retaining talented workers, without whom business investment and expansions are not possible.
“Labour shortages are a real concern for businesses in the region. People decide where to live and work based on quality of life and access to high quality services and amenities. Industry tends to follow talent, and in this regard, the region needs to have all the building blocks in place as the attraction and retention of world-class talent becomes increasingly competitive on a global level,” said Ms Leahy.
Amongst Ibec’s priorities for the West are:
- Addressing housing and infrastructure challenges
- Transitioning towards a new growth model with Net Zero energy powered by Atlantic offshore wind resources
- Adapting businesses to the new economic realities
- Enhancing capacity and skillsets to achieve sustainable development objectives
- Investment in people and skills
- Creating competitive advantage through digitalisation
- Innovation as a key driver of productivity growth
One in five Galway businesses want to go fully cashless, as the move towards card payments and tapping continues unabated post-Covid.
In all, 22% of Galway businesses would like to be fully cashless, according to a survey carried out by BOI Payment Acceptance (BOIPA), a provider of payment technology solutions, which asked Irish businesses about the current payment landscape as well as business confidence and concerns.
Over one-third (36%) of Galway businesses were unaware there is no contactless limit on mobile wallets – just below the national average – while 54% believe the increase in card over cash transactions has helped them run their business.
Six out of ten Galway businesses expect to grow this year despite the cost-of-living crisis and running costs dominating as key concerns; 62% believe their business will grow over the next twelve months despite global economic uncertainty.
Unsurprisingly cost-of-living increases and running costs were the main concerns the majority of businesses had.
For more, read this week’s Connacht Tribune.
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