Lab353 brings Ireland and Silicon Valley closer than ever

$10 million fund and accelerator programme, led by SVG Partners and eir Business seeking the hottest Mobile, Cloud and Internet of Things Technology start-ups.

Lab353 accelerator and investment programme, led by SVG Partners and eir Business, will help 10 of the most promising young Irish tech start-ups to establish or scale their operations in Europe and the US. The Lab353 Accelerator programme, a model of the successful Silicon Valley programme, will allow the companies to rapidly architect, scale, and support commercially-viable solutions.

Established as a strategic partnership between SVG Partners and eir Business, the programme is also supported by Arvato, Digicel and industry experts from the world’s top technology companies.

In addition to cash funding, Lab353 offers office space, infrastructure capability cloud services, strategic management consulting, access to a global network of mentors from Silicon Valley and Ireland, as well as corporate, legal and tax services through Lab353 partners. These services will be provided in the heart of Dublin, providing a European launch pad for tech start-ups.

Applications are now open at www.lab353.com until 31st December, and will be followed by a 10-week mentoring process based in eir Business’ Dublin office. In May 2015 the companies will pitch their ideas to a group of influential investors, with the aim of securing up to $1 million investment each.

John Hartnett, founder and CEO of SVG Partners, says, “The Lab353 Accelerator is offering start-ups and tech disruptors the support and guidance they need to thrive in a highly competitive worldwide market. We are at the forefront of a real tech boom here and I and I am looking forward to the great leaders and disruptive technologies this programme will reveal”.

Commenting on the Lab353 program, Enda Doyle, Director of Business Development and Innovation, eir Business, said: “Lab353 will seek out the hottest technology companies and accelerate them in a meaningful way in Ireland. This initiative isn’t for idea incubation. We’re seeking the 10 most disruptive and commercially-promising young technology start-up companies, either already based in Ireland or serious about locating into Ireland from abroad that already has offerings beyond pilot phase and are looking for a commercial release or European expansion.”

 

For further information:
eir
Paul Bradley, Director of Corporate Affairs, +353 1 6004281 / +353 85 1744281
Chris Kelly, Communications Manager, +353 1 6004444 / +353 85 1715454

About eir Business
eir Business is the business division of eir Group, the largest telecommunications company in Ireland, with more than 90,000 SME, enterprise and government customers and with local dedicated operations in Northern Ireland. It will work closely with the selected innovators to co-develop network-based solutions appropriate for the Irish and European markets. eir Business will provide the chosen tech companies with strategic consulting services on mobile, cloud, and Internet of things (IoT) technologies, plus access to eir’s business customers, its ISO-accredited service and support centre, its nationwide mobile and fixed networks, and its Amazon Web Services managed cloud service.