We are proud to share the exciting news that NewsWhip, one of Ireland’s standout data intelligence startups, has been acquired by US-based Sprout Social, a global leader in social media management, for  an initial consideration of  $55 million.   This marks a major milestone in NewsWhip’s journey. In 2013 the AIB Seed Capital Fund, managed by Furthr VC, became the first institutional investor in the company. Since then, Furthr VC has continued to support NewsWhip (founded in 2011) in a number of follow-on co-investment rounds, playing a pivotal role in the company’s scale and success.   Pioneering the Future of Media Intelligence   At the time  of Furthr VC’s first investment in NewsWhip, founders Paul Quigley and Andrew Mullaney were just beginning to explore how social media would impact news journalism. Their breakthrough insight was that virality wasn't determined by how often content was shared, but by how quickly it was shared. With early backing from AIB Seed Capital Fund, NewsWhip developed a patented algorithm to measure this speed of content-sharing, a capability that laid the foundation for a much broader application beyond journalism. As the technology evolved, so too did its reach. Today, NewsWhip's real-time media intelligence platform, used by leading global brands, governments, and NGOs to monitor millions of news and social media signals per hour. The platform surfaces rising narratives, assesses momentum, and delivers predictive, context-rich alerts, helping organisations anticipate the impact of emerging stories before they fully unfold.    A Global Exit, Rooted in Irish Innovation At Furthr, we’ve always believed that the boldest ideas deserve bold backing. Our involvement in the European Business Innovation Centre Network (EBN) has shown us that Furthr is unique  not only in Ireland, but across Europe in having our own venture capital fund integrated into our broader enterprise support mission. In fact, our first seed capital fund was a modest €1M, established in 1991 a time when early-stage tech investing in Ireland required genuine visionary leadership, provided by our very own Alex Hobbs and Eugene Smith. As we often say, in Furthr, we’re standing on the shoulders of giants. Since then, Furthr VC has been known for making bold but well-considered investments, sharing risk with Ireland’s most promising entrepreneurs at the earliest stages of their journey. That tradition continues today through the work of Richard Watson, Colm O'Sullivan, and Caroline Smart as they lead Furthr VC’s current fund. ''Eugene Smith and I are proud of the ongoing support we have been providing through investment and also strategic inputs at board level to Paul and his team. This acquisition by Sprout is a significant recognition of the groundbreaking progress by NewsWhip in building up its real-time media intelligence business internationally, driven by AI-driven product innovations.” Alex Hobbs, DSCGP Fund Manager. ''For almost 40 years, Furthr has been the most innovative, hands-on and forward-thinking start-up enterprise support organisation in Ireland. We work with more than 300 Founders every year and have invested time, advice, expertise and early-stage funding into companies like NewsWhip , GridBeyond , and SilverCloud Health   businesses that have gone on to deliver world-leading innovations and create wealth and jobs for Ireland. We’re a values-led organisation, and one of those values is that we are inspired to be entrepreneurial by the entrepreneurs with whom we work.” Martin Murray CEO, Furthr  What’s Next for NewsWhip? This acquisition signals a new chapter for NewsWhip as it becomes part of Sprout Social’s global ecosystem, extending the reach and impact of its real-time media monitoring and predictive analytics technology. To learn more, we recommend reading: NewsWhip’s official update The full press release   *********************************************************************************************************** Newship is an investee company managed by Furthr’s, DSCGP as General Partner for AIB Seed Capital Fund (AIBSCF). Under DSCGP management, AIBSCF first invested in Newswhip in 2013 and supported it in a number of follow-on co-investment rounds. NewsWhip, led by CEO Paul Quigley is the real-time media intelligence company trusted by some of the world’s top brands and publishers to predict and understand the impact of emerging stories. Its technology monitors millions of news and social media signals per hour—surfacing rising narratives, assessing momentum, and delivering predictive, context-rich alerts through its real-time media monitoring agent. Newswhip is based in Dublin and Boston.  To learn more, visit  newswhip.com .   Sprout Social is a global leader in social media management and analytics software, built on the belief that All Business is Social℠. Sprout’s intuitive platform puts powerful social data into the hands of approximately 30,000 brands so they can deliver smarter, faster business impact. Named the #1 Best Software Product by G2’s 2024 Best Software Award, Sprout offers comprehensive publishing and engagement functionality, customer care, influencer marketing, advocacy, and AI-powered business intelligence. Sprout’s software operates across all major social media networks and digital platforms. For more information about Sprout Social (NASDAQ: SPT), visit  sproutsocial.com .

Press Release, 22nd, July 2025   Irish BICs (Business Innovation Centres), which supports start-ups to access funding, mentorship and specialised resources , has launched an Impact Report. This is the first time the four BICs from around Ireland have come together to launch the report.   The report shows the four BICs engaged with more than 1,000 new clients over the three years from 2022 to 2024. The Irish BICs are supported by Enterprise Ireland and the Department of Enterprise, Trade and Employment.   The report, which covers the period from 2022 to 2024 also highlights that during this timeframe, there were 143 successful Pre-Seed Start Fund (PSSF) applications.   Figures show that  68% of companies awarded PSSF funding nationally worked with the Irish BICs. The report also shows that 59% of companies awarded iHPSU status nationally worked with the Irish BICs and there were 157 successful iHPSUs applications.   Chair of the Irish BICS, Martin Murray of Furthr, said: “This impact report is important as it highlights the crucial role played by the Irish BICs in helping innovative start-ups to grow and develop into a successful enterprise. The four BICs have been providing invaluable supports for more than three decades to start-ups right around the country. By coming together under the one umbrella, we are strengthening our message that our experienced mentors are on hand to help overcome all the challenges a new business faces.”   Conor O'Donovan, Head of Start-Ups and Entrepreneurship at Enterprise Ireland added: “The four BICs have been providing specialised supports and services to start-ups for 35 years. Enterprise Ireland partners with the BICs to accelerate the growth and development of ambitious Irish enterprises on their journey to compete and scale internationally. This report highlights the dynamic ecosystem in Ireland for supporting innovative startups such as Ground Wellbeing, Assiduous, Tailr and ByoWave. We hope their success inspires others to contact the BICs for assistance with developing their business proposition.” Rosemary Ward, Propelor BIC; Dan Murphy, AxisBIC; Majella Murphy, Furthr; Martin Murray, Furthr; Mary Ryan, WestBIC; Aidan Shine, PropelorBIC; Fionnuala Wall, AxisBIC and John Brennan, WestBIC   As well as offering mentorship to innovative and scaling businesses, the Irish BICs provide support to early-stage companies applying to Enterprise Ireland for Pre-Seed Start Fund (PSSF) and iHPSU (innovative High Potential Start-Up) funding. In addition, the BICs collaborate with Enterprise Ireland to deliver capability building programmes such as Prep4Seed, an investor readiness programme.   More information on the Irish BICs can be found on www.irishbics.ie Read the full Irish BIC's Impact Report 2022-2024 Here.

Martin Murray, CEO of Furthr explores how the €275 billion National Development Plan opens the door for innovative founders to shape the future of Ireland—not just abroad, but at home too. In the Irish startup support ecosystem it has long been recognized that in order to scale successfully, innovative startups need to have an export orientation. This makes sense in a small, island economy. For much of the history of the Irish state, the economic activity that would enable enterprises to scale, simply did not exist in a substantial and consistent way, in either the public or private sector in Ireland. This philosophy has informed the criteria used to assess startup enterprises for all sources of funding, including from government agencies and the private sector. However, the world has changed. The Irish government has just announced a National Development Plan with €275 billion to be spent over 10 years. Housing, water, energy and transport infrastructure will all receive billions in funding. Understandably, given recent experiences with the National Children’s Hospital, unmet housing targets and infrastructural planning delays, there are significant concerns about the ability of the state to deploy this funding effectively. If finance alone was the solution to these problems, they would have been solved some time ago. Clearly, new thinking, new skills, new methods and much more, are required. As a state, we have an executional capability deficit. Let’s not suggest that building the Dublin Metro Link or the Shannon to Dublin Water Supply project should be handed over to some innovative startup enterprises. However, now could be a good time to ask what is the appropriate contribution that innovative early stage enterprises can make to the overwhelming domestic challenges that the country faces. If you are looking for new thinking, new skills and new methods, founders of innovative startup enterprises have a unique contribution to make. Irish startup and scale-up enterprises are already delivering transformational leadership in those sectors in which the NDP investing. HTL Tech , a scale-up enterprise based in the Guinness Enterprise Centre, has successfully completed the 3D printing of a scheme of social housing in Dundalk. Evercam is transforming productivity in the construction industry, in Ireland and around the world, with its AI-enabled video monitoring solutions. Gridbeyond has revolutionized the usage, connectivity and efficiency of energy generation, storage and distribution assets. A small portion of the National Development Plan funding going into innovative early stage enterprises has the potential to deliver an outsized impact in terms of on-time and in-budget outcomes. Similarly, aligning the research activity in Universities and Research Performing Organisations with the objectives of the NDP, gives the potential for an all-of-government, all-of-society approach to the most significant challenges faced today. Just a thought....

If you are in the early stages of starting a business, the governance and compliance requirements can feel overwhelming.  There are hundreds of nuanced legal, tax and accounting rules that every company must comply with and yet there are no clear guidelines for founders on how to meet those requirements. This results in founders either spending a small fortune outsourcing to expensive lawyers and accountants, or spending far too much of their own time trying to figure out the solutions themselves to keep costs down - time which would be much better spent on product, sales or marketing.  This handbook is created by Open Forest in collaboration with Furthr to enable early-stage founders to have a basic understanding as to their obligations and requirements when starting a business.

On Tuesday, May 27th, Furthr Foundry closed out its 12-week pre-accelerator with an unforgettable finale, celebrating the passion and progress of ten outstanding early-stage startups. From bold ideas to refined business plans, each founder showcased just how far they’ve come on the journey to becoming investor-ready. Over the programme, participants engaged in mentorship, expert-led workshops, and strategic 1:1 sessions—all designed to prepare them for real-world growth and investment. A Night of Recognition The standout award for ‘Most Investable Startup’—voted by a panel of seasoned investors after one-on-one meetings—was awarded to RiskCortex , founded by Gautam Hotti and Arun Parekkat. Their pitch and investor interactions highlighted a powerful solution for regulatory compliance in the financial sector, paired with a clear path to market. But they weren’t the only ones to walk away with honours—this year’s audience vote for 'Best Pitch' ended in a tie, with resounding applause for both RiskCortex  and Furry Finders, makers of sleek GPS collars for small pets. “We’re incredibly honoured to be recognised as the ‘Most Investable’ at the Furthr Foundry Finale. The past 12 weeks have been transformative—refining our vision, connecting with incredible mentors, and building alongside inspiring peers,”  said Gautam and Arun of RiskCortex. Investor Thanks We’re deeply grateful to the investors who gave their time, insight, and support to the programme and finale. A huge thank you to: Mairead Walsh – ACT Venture Capital Maurice Roche – Delta Partners Keelan Paliani & Peter Leyton – Elkstone Private Partners Helen McAuliffe – Enterprise Ireland Richard Watson & Caroline Smart – Furthr VC Dylan Scully – Frontline Ventures Niamh Sterling – HBAN Chris Burge – Spark Crowdfunding Saurabh Kumar – Sure Valley Ventures Their involvement helped founders prepare for the real-world fundraising environment and gave invaluable feedback that will shape these startups as they move forward. Meet the 2025 Cohort This year’s cohort brought together a remarkable range of ideas and technologies: Risk Cortex  – Eliminating the risk of regulatory compliance. Xtatiq  – Converting complex data into sustainable customer growth strategies. Electric Blue Technology  – GreenTech company developing hardware and software products for building energy monitoring. Furry Finders  – Lightweight, stylish GPS collars built for small pets, ensuring safety without compromising style. CalmOKids  – Next Generation mental health platform helping kids aged 5–12 develop emotional resilience and self regulation, through fun interactive experiences rooted in science. Islandbridge  – The intelligent interaction layer for enterprise software. EchoByld – AI-powered co-pilot that automates construction project scoping, pricing and tendering, generating BoQs, benchmarking bids and flagging risk from day one. Solathraí  – Digital supply chain automation technology for business that purchase from wholesale suppliers. NSights  –Purpose built software for financial advisors. Helping navigate rising regulatory demands and evolving client expectations, particularly in the investment and pensions space. ScenarioWorX  – a intelligent practice platform for SMEs, turning learning into practical, actionable skills using it's Hyper-personalised Soft Skills simulator. Each team impressed with their dedication, creativity, and commitment to solving real-world problems. Looking Ahead As the 2025 Foundry cohort graduates, they leave with sharpened pitches, powerful networks, and ambitious roadmaps. We couldn’t be prouder of the talent and determination on display—and we’re excited to see what’s next.

On May 28th and 29th, Furthr had the privilege of sponsoring the Startup World Cup Regional Final  at this year’s Dublin Tech Summit —a thrilling two-day celebration of global entrepreneurship and breakthrough innovation. (L–R): Niamh Collins, Centre Director at the Guinness Enterprise Centre; Martin Murray, Chief Executive Officer at Furthr; Giuseppe Galimberti, Chief Executive Officer at Nano Tech SpA; Martin Tantow, Partner at Pegasus Tech Ventures; and Barry Downes, Managing Partner at Sure Valley Ventures. Powered by Pegasus Tech Ventures , hosted by the incredible Dublin Tech Summit  team, and co-sponsored alongside our partners at the Guinness Enterprise Centre , the event brought together bold founders, visionary investors, and world-class tech leaders for a truly unforgettable showcase of startup excellence. From AI-driven platforms to biotech game-changers, the energy across both days was electric. Investor-ready entrepreneurs took the stage to pitch their solutions to a panel of judges, vying for the chance to represent the region at the Global Startup World Cup Final  in Silicon Valley  on October 17th, 2025. A Powerful Lineup of Finalists After two days of high-stakes competition, five standout startups emerged as finalists: Binarii Labs  – Patent Data Security Platform, Innovating digital trust and cybersecurity Celtic BioTech Medical  – developing innovative therapies for solid cancers and associated pain in human beings MiFundo  – Making banking truly borderless. Mifundo connects credit data across Europe – so banks can onboard customers without local credit history Nano Tech SpA  – leaders in the production of nano -engineered pre-pregs for advanced applications. Discover our patents made to excel. MotoKlink  – an easy to use, easy to fit, robust suspension setup, suspension data and lap-timing system for enduro, motocross and supercross. Each finalist brought forward bold ideas, deep market insights, and a passion for solving meaningful global challenges. Announcing the Winner: ItalNano-Tech The grand finale delivered drama, energy, and world-class pitches—but in the end, ItalNano-Tech  (Nano Tech SpA) claimed the title. Their innovative work in nanotechnology applications  stood out to the judges, earning them the coveted opportunity to pitch on the world stage at the Startup World Cup Final in Silicon Valley  on October 17th, 2025. Congratulations to ItalNano-Tech  on a well-deserved victory—we can’t wait to see what you accomplish next! Furthr on the Frontlines of Innovation We were absolutely thrilled to support this international celebration of entrepreneurship. A huge thank you goes out to Martin Murray, Chief Executive Officer at Furthr; Julian Seymour, Chief Operations Officer at Furthr; Niamh Collins, Centre Director at the Guinness Enterprise Centre and Caroline Smart, Investment Associate at Furthr VC, who brought insight, passion, and presence to the stage as MCs and judges. Their energy helped shine a powerful spotlight on some of the most promising startups from around the globe. Throughout the event, we were inspired by the ambition, resilience, and creativity of every founder who stepped onto that stage. From seed-stage dreamers to scale-up disruptors, this was a gathering of minds united by one goal: shaping the future. Here’s to the startups redefining what’s possible—and to Furthr’s mission to help them grow, scale, and succeed globally.

16 May 2025  -- The first 12-week Prep4Seed Programme of 2025 culminated today at the Investor Pitch Day where seven startups pitched to an audience of Angel Investors & VCs. The programme, delivered by the four Irish Business Innovation Centres (BICs), in collaboration with Enterprise Ireland, prepares startup clients for seed investment bringing participants through the investor readiness process quickly and effectively. The Irish BICs are AxisBIC, Furthr, Propelor & WestBIC. Conor O’Donavan, Department Manager, Startup & National Enterprise Hub, Enterprise Ireland with Dr Tony Callaghan CEO and CTO at Somatech The 7 Irish based early-stage companies pitching for investment were from a variety of industry sectors including: Climate Tech, Life Sciences, FinTech, Digital Tech, Food and Sustainability.   The pitching Companies were: Nibbed, Shoden, Solas Sodas, Somatech, Tao Climate, The Focus Collective and Xtricate Medical.   Carol Gibbons, Head of Entrepreneurship, Regions & Local, Enterprise Ireland said : “One week on from the success of celebrating over 150 innovative emerging start-ups at the Enterprise Ireland Start-up Day 2025, it is encouraging to see this new cohort of early stage companies coming through the Prep4Seed programme. The calibre of talent and innovation demonstrated by the 7 start-ups spread across a range of sectors that are pitching today is testament to the vibrancy of the start-up eco-system across Ireland. Enterprise Ireland is delighted to support and partner with the Irish BICs to support these start-ups to thrive and influence the future of global business.”   Somatech , awarded the One to Watch Award, are specialising in fungal solid-state fermentation, leveraging low-cost technology to transform locally sourced, plant-based feedstocks into high-value, 100% natural ingredients.   Nibbed , who took home the Best Pitch Award, are redefining the hot drinks space with pure hot cacao—a nourishing, energising coffee alternative.   Commenting on their award Tony Callaghan, founder, Somatech  said “ We are delighted to receive the One to Watch Award. The Prep4Seed program has been immensely beneficial, helping us refine our investor proposition and pitch. It provided invaluable insights across all areas of business, enabling us to sharpen our strategy and prepare for the next stage of growth."   Participants attended five Masterclasses run by the Irish BICs and tailored one-to-one meetings with experienced BIC consultants which covered a broad range of areas including Sales & Marketing, Financial Modelling, Market Validation, Pitching & Investment and Company Foundation. Participants were also brought through intensive investor pitch preparation sessions and trial pitches preparing them for today’s Investor Day.   To date  76 startups have participated in the 12-week Prep4Seed investor-ready programme delivered nationally by the Irish BICs: AxisBIC, Furthr, Propelor and WestBIC in collaboration with Enterprise Ireland .

Venture capital firms play a profound role in boosting the growth of Irish start-ups and scale-ups by facilitating start-up funding across different stages. Venture Capital (VC) is a powerful financial vehicle that has the potential to boost the growth of start-ups and scale-ups. In the realm of Irish business, it plays a profound role in nurturing entrepreneurial talent, facilitating early-stage funding options, and fostering an environment conducive to innovation and global competitiveness. Understanding Venture Capital Venture capital refers to the infusion of capital by venture capitalists into high-growth, ambitious companies with the potential to develop into significant companies. These investors not only provide financial support but also offer their industry expertise, strategic guidance, and access to their extensive network of contacts. Unlike traditional bank financing, venture capitalists do not seek scheduled repayment. Instead, they acquire a minority share of the company’s capital in return for their investment. The venture capitalist’s primary goal is to realise their investment, typically within five years, through an Initial Public Offering (IPO), a trade sale, or by having their stake bought out by the company. Venture capital funds typically invest in companies raising over €500k in equity. These companies should operate within a fast-growing, attractive sector, possess a robust management team, and offer a product or service that addresses a clearly identified problem. Venture capital firms invest in various businesses at any given time. These firms may focus on a particular sector or have a more diverse portfolio, catering to a wide range of business types. Venture capitalists can invest significant amounts of capital, but expect a high return given the high level of risk involved in investing in early-stage companies. Therefore, not all companies are suitable for venture capital funding. Limitations of Venture Capital Funding Obtaining venture capital involves relinquishing a degree of control over your business, as venture capitalists will take an ownership stake in your company in return for their investment and will usually be involved in the company’s governance (e.g., through the board of directors). This will entail a say in the company’s direction and strategy, potentially leading to conflicts in decision-making if there is no clear alignment between the founders and the investors. Therefore, the relationship between a start-up’s founders and a venture capitalist is crucial to success. Lastly, venture capital as a source of finance is largely only suited to companies that have the potential for very significant and fast growth. Furthr VC Furthr VC, the venture arm of Furthr, launched its latest early-stage venture fund in late 2019 with the backing of leading Irish technology entrepreneurs and business leaders, as well as Enterprise Ireland. The fund is highly active, investing in Seed to Series A-stage B2B software and MedTech companies in Ireland, with initial investments of up to €650K. Furthr VC invests in and partners with highly ambitious start-up teams developing globally scalable products and services, which are positioned to become the next generation of Ireland’s leading technology companies. In addition to providing institutional capital early on, Furthr VC is a long-term partner to its portfolio companies and can invest up to €3M in a company through subsequent follow-on investment rounds. The Ireland Strategic Investment Fund The Ireland Strategic Investment Fund (ISIF) is a critical player in the Irish venture capital landscape. With its patient capital approach and extensive resources, ISIF supports both emerging and established entrepreneurs across Ireland. The strategic emphasis of ISIF in venture capital is to contribute to a range of funding options, spanning from start-ups to growth equity and Private Equity (PE). By the end of 2021, ISIF had committed nearly €1.0bn to venture capital partnerships, reflecting a mature and diversified portfolio. The ISIF seeks to balance its investments predominantly between Intellectual Property (IP)-driven Information and Communications Technology (ICT) and life sciences, recognising the transformative impact of technology across sectors and the emerging opportunities for Ireland. The manager selection process of ISIF prioritises team experience, diversity, Environmental, Social, and Governance (ESG) considerations, reputation, track record, the firm’s local and international network, and the expected impact on the Irish market. How Enterprise Ireland assists with Venture Capital Funding Enterprise Ireland is a government organisation that assists companies in raising venture capital funding to grow their businesses. Although it does not act as a broker, the organisation can provide contact details and specific areas of interest for major Irish venture capital companies. Furthermore, Enterprise Ireland partners with Venture Capital funds to provide finance. The Seed and Venture Capital Scheme, launched between 2013 and 2018, was designed to improve access to finance for Small and Medium Enterprises (SMEs) and further develop the Seed and Venture Capital Industry in Ireland. Top Venture Capital Funds in Ireland Some of the key venture capital funds in Ireland include Furthr VC, ACT Venture Capital, Atlantic Bridge, Delta Partners, MiddleGame Ventures, Elkstone, Frontline, Sure Valley Ventures and Fountain Healthcare Partners. The Future of Venture Capital in Ireland The venture capital landscape in Ireland is set to evolve, driven by the dynamism of the tech sector, the entrepreneurial spirit, and the supportive role of institutions like ISIF and Enterprise Ireland. As Ireland continues to foster a culture of innovation and entrepreneurship, venture capital will undoubtedly play a critical role in shaping the country’s economic future. Conclusion Venture capital plays a pivotal role in Ireland’s economy, nurturing innovation and powering the growth of businesses. While venture capital funding may not be suitable for all businesses, for those with high growth prospects and a robust business model, it provides a significant financial impetus and access to a wealth of industry experience and networks. Are you a start-up looking to scale? Reach out to us at  hello@furthr.ie  to know more about the world of venture capital.

The Furthr Year in Review yearbook highlights a remarkable year filled with achievements, significant milestones, and notable events within our community. It provides a comprehensive overview of key projects, impactful stories, and collaborative successes, serving as an official record of our collective progress. This yearbook celebrates our accomplishments, showcases our unity, and documents our shared journey over the past year.

A Landmark Event for Innovation and Entrepreneurship The Furthr Economic Impact Study Launch  was a momentous occasion where we had the privilege of sharing our latest achievements with key stakeholders, investors, and entrepreneurs. Hosted at The Guinness Enterprise Centre, Dublin 8 , the event brought together industry leaders to discuss the remarkable milestones highlighted in our Annual Report  and Economic Impact Study . Showcasing Success: The Key Highlights Driving Entrepreneurial Impact At Furthr, we take pride in accelerating ambitious founders on their journey to success. Our 2024 Annual Report  highlights how we’ve been instrumental in supporting over 300 start-ups , providing mentorship, funding opportunities, and critical resources to help them scale. Some of the key achievements from this year include: 10 start-up companies  empowered through the Furthr Foundry Accelerator to become investor-ready. 105 entrepreneurs  engaged in our Ready, Set, Go Furthr Ideation Stage Accelerator. 1,200 hours  of masterclasses delivered, equipping founders with essential skills. 29% of supported companies had at least one female founder, reinforcing our commitment to diversity in entrepreneurship. Unveiling the Impact Report: Economic Growth & Job Creation The Economic Impact Report (2022-2024)  showcased the tangible benefits of Furthr’s initiatives. The study, which analysed 207 companies , revealed significant contributions to the economy: 497 new jobs  created, reflecting a 42% growth in employment . €30 million in investment raised  in 2024 alone, marking a 55% increase  from the previous year. €18.3 million turnover , a 34% increase  from 2023. A total economic contribution of €34.5 million in Gross Value Added (GVA) and 969 full-time equivalent (FTE) positions  supported. 72% of supported companies operate in ICT , demonstrating Furthr’s stronghold in the tech ecosystem. The Future: What’s Next for Furthr? The success of our Annual Report  and Economic Impact Study  sets the stage for an even more ambitious 2025. We are committed to expanding our network, refining our accelerator programs, and further bridging the gap between early-stage start-ups and investors. As we look ahead, our mission remains clear: to empower founders, accelerate innovation, and drive economic growth . Thank you to all our partners, stakeholders, and the vibrant entrepreneurial community that continues to make Furthr a leader in the start-up ecosystem. Together, we go Furthr!   To explore the full reports, visit: Annual Report Economic Impact Study

What’s required to move the national indigenous entrepreneurship needle? A recent visit to Station F, Paris, provided an opportunity to consider what it takes to achieve transformative change in the startup support ecosystem. Martin Murray, CEO, Furthr Billed as the “world’s largest startup campus”, Station F is a 34,000 square metre incubation hub housed in a former railway depot in Paris’s 13th arrondissement. Opened in 2017, French telecoms billionaire, Xavier Niel, invested a quarter of a billion euro into its re-development. It houses up to 1,000 start-up companies as well as some of the largest tech companies in the world who support the work of Station F and the development of the start-up companies.   Scale Matters Station F is something you have to see to believe.  (And they’ll be happy to show you around. You can book a tour on their website.) The 300-metre-long facility is divided into three equal sections – a meetings and venue space roughly the size of a football pitch, the core office space for startups and corporates with 3,000 desks, and finally, the largest restaurant space in Europe which is also open to the public and with 30% discounts for Station F residents. It’s not just big. This is Paris. So, needless to say, the design aesthetic is bleeding edge. Meeting rooms are in upcycled shipping containers that seem to float above your head, natural light is everywhere and, keeping in mind the heritage of the building, you can take your lunch in a real railway carriage that looks like it may have stopped at a tropical destination.   The scale does not stop with the architecture. Station F has at least 30 accelerator programs for Founders. Just two of these programs are operated by Station F itself, the remainder are outsourced to corporate partners. So, for example, Meta is a prominent tenant and sponsor of Station F where it funds and manages an accelerator program for AI-related start-ups. Station F’s own “Founders Program” has a bi-annual intake of Founders who pay €300 per month per desk while participating in the program. The other Station F owned and operated program is “Fighters”, aimed at entrepreneurs from under-privileged backgrounds.   Everyone working in enterprise support knows that often the greatest value provided to Founders is network and connections. Station F lays on 600 events per year for Founders!   If you are not yet impressed, wait to be blown away, particularly if like myself you are based in Ireland. The Station F “Flatmates” program provides quality apartment accommodation to program participants, just 10 minutes from the campus. Prices start at €499 per month for a private room in a shared apartment, a fraction of the market rates in central Paris. Obviously, this is a game-changer in terms of providing real opportunity to Founders to fully engage in Station F’s programs and is indicative of the joined-up thinking that is a hallmark of the centre.     The hub has a staff of 45 people, including interns.   Brand Matters The French invented entrepreneurship. The term was coined by economic philosopher Jean-Baptiste Say in the early 1800s. The French also invented bureaucracy. Up until recently, they were better known for the latter than the former. Due to the scale of its ambition, Station F has played a big part in changing that. The influence of Station F goes well beyond the 13th arrondissement and its 1,000 start-ups. The hub is a beacon for the French, and indeed the European, start-up ecosystem. It makes a statement that we in Europe can think big and execute at scale. It is estimated that Station F connected companies have raised €8Bn in investment and created 47,200 jobs.   Engagement Matters An ambitious scale and positive brand is needed to attract the attention of the world’s largest tech companies. Station Fs corporate partners are a who’s who of the global tech world. Microsoft, Amazon, Meta, Google and many more want to be associated with Station F and with its Start-Up clients and are prepared to make substantial and ongoing investments of time and money to do so. This provides an unrivalled level of access to technological and market expertise in these companies for the Start-Up Founders on Station F programs.   Engagement from the Founders is also important. The hub’s selection criteria for Founders requires that they are present in the centre, actively engaged in their program and actively engaged with their peers. That’s part of the recipe for success.   Thank you to Roxanne Varza, Directrice, Station F and her team for showing us around. Station F can be an inspiration to the Irish enterprise support ecosystem.

For a start-up, having a solid business model is essential for strategic planning, resource allocation, and long-term viability. In today’s competitive business landscape, the role and importance of a  business model  is undeniable. It acts as the backbone of any company, defining its modus operandi, revenue generation strategies, and value proposition. It’s a blueprint that outlines how a company will create, deliver, and capture value, serving as a roadmap to success and sustainability. Why is a Business Model important?  A  business model  is essentially a strategic design that defines how a company operates, makes money, and achieves its goals. The  importance of a business model  is manifold. It not only guides a company’s operations but also impacts its performance and long-term viability. Here are some reasons why a business model is crucial: Strategic Direction:  The business model provides a strategic direction and a framework for decision-making. It outlines how the company will create and deliver value, which helps strategise the operations. Revenue Generation:  The business model outlines how a company plans to make money. It identifies the revenue streams and mechanisms for generating profit. Competitive Advantage:  A well-designed business model can provide a competitive advantage. It differentiates the company from its competitors and helps in capturing a larger market share. Investor Attraction:  A robust business model is often a key factor that attracts investors. It demonstrates the company’s potential for generating profit, which can be appealing to investors. Sustainability:  A sustainable business model ensures the company’s longevity. It helps the company adapt to changing market conditions and customer preferences.   When start-ups are looking to get funded by investors, a solid business model instantly makes a start-up investor ready. There are support systems, such as Furthr and our comprehensive range of supports, which start-ups can engage with to perfect their business plans that will stand up to scrutiny. Types of Business Models   Through the years, various types of business models have emerged, each catering to specific business needs and market conditions. Some of the most common types include: Retailer Model:  This model involves selling goods directly to consumers. It’s commonly used by grocery stores, pharmacies, and other physical stores. Manufacturer Model:  This model involves producing goods from raw materials and selling them to distributors, retailers, or directly to consumers. Fee-for-service Model:  In this model, a company charges a fee for a specific service. It’s commonly used by professionals like hairstylists, accountants, and real estate agents. Subscription Model:  In a subscription model, customers make recurring payments for continuous access to a product or service. Examples include software service providers and magazine publishers. Bundling Model:  Under this model, a company sells multiple products or services together at a lower price than if they were sold separately. This model is often used by telecom and cable TV service providers. Product-as-a-Service Model:  Here, customers pay to use a physical product. Examples include bike rental companies and software-as-a-service providers. Leasing Model:  In this model, a company leases its products to another company for a recurring fee. It’s commonly used for leasing big-ticket items like manufacturing and medical equipment. Distribution Model:  A distributor buys products from a manufacturer and sells them to retailers at a higher price. Freemium Model:  In a freemium model, parts of a product or service are provided for free, but customers must pay for access to advanced features. It’s commonly used by software service providers. Advertising or Affiliate Marketing Model:  In this model, a business earns revenue from advertising or affiliate marketing. Razor Blades Model:  This model involves selling a primary product at a low price and generating most of the profit from associated items that are sold separately. Designing a Business Model  Designing a business model requires a deep understanding of the company’s goals, market dynamics, and customer needs. Here are the steps to design a business model: Identify Revenue Streams:  Identify how your company will generate revenue. This could be through direct sales, subscription fees, advertising revenue, or any other means. Define Key Metrics:  Identify the key metrics that will measure your company’s success. This could include customer acquisition cost, customer lifetime value, churn rate, and so on. Identify Target Customers:  Define your target customers and understand their needs and preferences. This will help you create a value proposition that resonates with them. Define Value Proposition:  Your value proposition is what makes your company unique and attractive to customers. It should clearly communicate the unique benefits that customers can expect from your product or service. Estimate Costs:  Identify all the costs associated with running your business. This includes fixed costs like rent and salaries, as well as variable costs like raw materials and marketing expenses. Define Competitive Strategy:  Identify how your company will differentiate itself from competitors. This could involve unique product features, superior customer service, lower prices, or any other competitive advantage.   Remember, a business model is not a one-size-fits-all concept. It needs to be tailored to fit the unique needs and goals of your company. As the business environment changes, the business model may also need to be adjusted to stay competitive and relevant. Conclusion In conclusion, a business model is a crucial aspect of any business. It provides a strategic direction, outlines revenue generation strategies, and defines the value proposition. By understanding the different types of business models and how to design one, companies can create a robust and sustainable business model that can help them achieve their business goals and maximise shareholder value. Often, founders find themselves immersed in their work and fail to notice what works and what doesn’t. It is during these phases that organisations like Furthr can step in to help them take a step back and look at their ideas and models from a wider perspective to understand their strengths and weaknesses. The business consultants at Furthr complement and guide founders’ efforts by pointing them in the right direction, helping them achieve their full potential. Want to know what business model suits your business?  Talk to us at  hello@furthr.ie  .