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  .

A business model is not just about how a company makes money; it encompasses the entire strategy and approach to creating and delivering value to customers. In today’s rapidly evolving business landscape, understanding how a business model works is crucial for entrepreneurs and companies seeking long-term success. A business model is not just about how a company makes money; it encompasses the entire strategy and approach to creating and delivering value to customers. This article will delve into the intricacies of business models and explore the various components and strategies that contribute to their effectiveness. What is a Business Model? Why is it important? A business model is a company’s profit-making plan that encompasses several key elements. It defines the products or services a company will offer, identifies its target market, and outlines the expected costs associated with the business operations. A business model is crucial for attracting investment, recruiting talent, and motivating staff while also playing a significant role in evaluating companies for investors and providing insights into a company’s future for employees. A successful business model should fulfill client needs at a competitive price and sustainable cost. Evaluating a business model involves analyzing factors such as gross profit, cash flow, pricing, and costs. There are various types of business models, including retailers, manufacturers, fee-for-service providers, and freemium providers. A well-designed business model serves as the foundation for a company’s operations and growth. It outlines how the business creates, delivers, and captures value, reflecting management’s understanding of customer needs, market dynamics, and competitive advantage. A robust business model not only drives revenue generation but also guides decision-making and resource allocation, ultimately determining the company’s viability and longevity.   Creating Value for Customers  At the core of any successful business model is the ability to create value for customers. This value can take various forms, such as products, services, or shared assets. Understanding what customers want and need is essential for identifying opportunities and designing offerings that meet those requirements. By aligning value creation with customer preferences, businesses can establish a strong value proposition that sets them apart from competitors. Businesses must design their operations to ensure a seamless and positive customer experience, from the initial interaction to the final delivery of the product or service, ensuring a positive value delivery. Leveraging technology and digital tools can significantly enhance the delivery process, enabling businesses to reach a wider audience and streamline their operations. Capturing value is the critical aspect of any business model. After creating and delivering value, businesses must find ways to monetize their offerings and generate revenue through various revenue streams, such as product sales, service fees, subscriptions, leases, or insurance premiums. It is essential to align pricing strategies with the perceived value by customers and ensure that the revenue generated outweighs the costs incurred in value creation and delivery.   Components of a Business Model  The Business Model Process Developing a robust business model involves a systematic and iterative process that aligns with the company’s goals and market dynamics. The following steps outline the typical business model process: Identify Customer Needs : Conduct market research and analysis to understand customer preferences, pain points, and unmet needs. Design Value Proposition : Develop a compelling value proposition that addresses customer needs and provides a unique selling point. Segment Customers : Divide the target market into distinct customer segments based on demographics, preferences, or behaviours. Select Channels : Determine the most effective distribution channels to reach and engage with customers. Build Customer Relationships : Establish strategies for building and nurturing strong relationships with customers, fostering loyalty and repeat business. Define Key Activities and Resources : Identify the core activities and resources required to deliver the value proposition effectively. Establish Key Partnerships : Identify potential partners or collaborators who can contribute to the business’s success and enhance its capabilities. Analyse Cost Structure : Assess the cost drivers and determine the most cost-effective ways to operate and deliver value. Design Revenue Streams : Develop revenue models and pricing strategies that align with the value delivered to customers. Test and Iterate : Continuously evaluate and refine the business model based on customer feedback, market changes, and emerging opportunities. Developing a Business Model  When developing a business model, entrepreneurs and companies should consider several factors to ensure its effectiveness and sustainability. These factors include: Market Research : Gain a deep understanding of the target market, including customer needs, competitors, and industry trends. Innovation and Differentiation : Identify unique value propositions that set the business apart from competitors and address unmet market needs. Digital Transformation : Embrace digital technologies and leverage them to enhance operations, reach a broader audience, and deliver value more effectively. Customer-Centric Approach : Put the customer at the centre of the business model, focusing on delivering exceptional experiences and building long-term relationships. Scalability and Flexibility : Design the business model to accommodate growth and adapt to changing market conditions and customer preferences. Sustainability and Social Impact : Consider environmental and social factors in the business model, aligning with sustainable practices and addressing societal needs. Risk Management : Identify potential risks and uncertainties and develop strategies to mitigate them, ensuring the business model’s resilience. Business Model Transformation In today’s dynamic business environment, the ability to adapt and transform is crucial for long-term success. Business model transformation involves reimagining and reinventing the core elements of a business model to respond to market changes, technological advancements, or shifts in customer behaviour. This transformation could include: Digitalisation : Embracing digital technologies to streamline operations, enhance customer experiences, and drive innovation. New Revenue Models : Exploring alternative revenue streams or pricing mechanisms to generate additional income. Ecosystem Partnerships : Collaborating with other businesses or stakeholders to create new value propositions and unlock synergies. Market Expansion : Expanding into new markets or target segments to diversify revenue sources and reach a broader customer base. Product or Service Innovation : Introducing new products or services that address emerging customer needs or leverage emerging technologies. Operational Efficiency : Optimising internal processes and resource allocation to improve productivity and reduce costs. Business Model Analysis Regular analysis and evaluation of the business model are essential to ensure its effectiveness and identify areas for improvement. Business model analysis involves: Performance Metrics : Establishing key performance indicators (KPIs) to measure the business model’s success, such as revenue growth, customer retention, or market share. Customer Feedback : Soliciting feedback from customers to assess their satisfaction, identify pain points, and uncover opportunities for improvement. Competitive Benchmarking : Comparing the business model to competitors to identify strengths, weaknesses, and potential areas of differentiation. Market Trends : Monitoring industry trends and market dynamics to identify emerging opportunities or threats that may impact the business model. Risk Assessment : Conducting a comprehensive assessment of potential risks and vulnerabilities that may affect the business model’s viability. Types of Business Models There are various types of business models, each suited to different industries, markets, and customer segments. Some common business models include: Product-Based : Focuses on creating and selling physical or digital products to customers. Service-Based : Centers around providing services or expertise to customers, often on a consulting or subscription basis. Platform-Based : Facilitates interactions between users or businesses through a digital platform, generating revenue from transactions or advertising. Subscription-Based : Offers customers access to products or services for a recurring fee, ensuring regular and predictable revenue. Freemium : Provides a basic version of a product or service for free, with premium features available for a fee. E-commerce : Enables online buying and selling of products, often leveraging technology and digital platforms. Franchise : Involves granting individuals or businesses the right to operate under an established brand and business model in exchange for fees or royalties. Sharing Economy : Connects individuals or businesses to share resources or services, often through digital platforms. Choosing the Right Business Model  Selecting the right business model depends on various factors, including the nature of the industry, customer preferences, competitive landscape, and the company’s capabilities. Businesses should consider the following when choosing a business model: Market Analysis : Understand the target market, customer needs, and industry dynamics to identify the most viable business model. Competitive Advantage : Assess the company’s unique strengths and differentiators to determine which business model aligns best with its capabilities. Customer Research : Conduct surveys, interviews, or market research to gain insights into customer preferences, pain points, and willingness to pay. Revenue Potential : Evaluate the revenue-generating potential of different business models, considering factors such as pricing, scalability, and market demand. Resource Requirements : Assess the resources, skills, and infrastructure needed to execute the chosen business model effectively. Flexibility and Adaptability : Choose a business model that allows for future growth, innovation, and adaptation to changing market conditions.   Advantages of a Strong Business Model A well-designed business model offers several advantages for companies, including: Competitive Advantage : A unique and effective business model sets the company apart from competitors and enables it to capture market share. Value Creation : By focusing on creating and delivering value to customers, businesses can establish strong customer loyalty and generate repeat business. Scalability : A scalable business model allows for growth and expansion without significant increases in costs or resource requirements. Adaptability : A flexible business model can adapt to changing market conditions, technological advancements, or customer preferences. Resilience : A robust business model can withstand economic downturns, industry disruptions, and other external challenges, ensuring long-term sustainability. The Significance of Business Models in Post-Pandemic era  The COVID-19 pandemic has had a disproportionate impact on businesses worldwide, causing significant disruptions across industries. However, it has also presented opportunities for innovation, digital transformation, and the development of more sustainable business models. In Ireland, for example, SMEs have faced both challenges and opportunities, with some experiencing positive impacts or finding ways to sustain their operations amidst the uncertainty. The pandemic has underscored the importance of digital capabilities, customer-centricity, and transformation readiness in navigating crises and driving long-term value. As businesses reimagine their operations and strategies in the post-pandemic era, business model adaptation and transformation have become crucial. The acceleration of digitisation initiatives, the exploration of new revenue models, and a focus on sustainability and social impact are key trends observed among Irish SMEs. Furthermore, talent attraction and retention, along with strategic partnerships, are vital considerations for SMEs seeking to thrive in the evolving business landscape.  Conclusion Understanding how a business model works is essential for entrepreneurs and companies striving for success in today’s dynamic and competitive business environment. A well-designed business model enables value creation, efficient delivery, and effective revenue generation. By considering market dynamics, customer needs, and industry trends, businesses can develop robust and adaptable business models that drive growth, innovation, and long-term sustainability. As the post-pandemic era unfolds, businesses must embrace transformation and leverage their business models to navigate challenges, seize opportunities, and deliver value to customers and stakeholders. Get in touch with us at hello@furthr.ie

Each start-up will have a different funding journey based on its sector, maturity and development at various stages. Starting a new business venture is an exciting journey filled with endless possibilities. However, turning these possibilities into reality often requires substantial financial resources. For this reason, many entrepreneurs pursue different types of funding rounds to amass the crucial capital needed to propel their startups towards success. This article will walk you through the entire funding process, from pre-seed funding to Series C funding, and even beyond. Pre-Seed Funding: Planting the Initial Seed   Pre-seed funding is the first, step in the capital-raising process. At this stage, the startup is merely an idea, and the founders are responsible for its initial growth. Most pre-seed funding is sourced from the founders themselves, alongside contributions from the founders, close friends, family members, or even through crowdfunding initiatives. While Pre-Seed is not typically included in the official funding rounds, it plays a pivotal role in getting the startup off the ground, covering initial operational costs such as market research, product development, and business model formulation. Seed Funding: Nurturing the Seed   The next stage is seed funding once the startup has a solid foundation. Seed funding is the initial official equity funding stage. It represents the first significant inflow of capital that a business venture receives, often from angel investors or dedicated seed venture capital firms. Seed funding is often used for product development, marketing initiatives, hiring key team members, and refining the business model. This early infusion of capital waters the “seed” planted during the pre-seed stage, helping the startup to grow. Seed funding can be key to a business’s go-to-market strategy. A successful seed funding round not only provides the necessary capital but also validates the startup’s business idea, instilling confidence in both the founders and the investors. Series A Funding: Constructing a Solid Business Model  After the seed funding stage, startups usually progress to Series A funding. At this point, startups are expected to have a cogent plan for developing a sustainable business model. This stage is crucial, as it typically involves a substantial increase in the funding amount. Series A funding is provided by venture capital financing and angel investors. At this stage, startups are expected to present a strong business plan and demonstrate a potential market for their product or service. The funds raised during this round are often used for product development, marketing, and team expansion. Series A funding is a significant milestone in a startup’s growth journey. It signifies that the startup has shown promising traction in its market and is ready to take the next step in its growth plan. The financial boost from Series A funding helps startups optimise their product and market fit, setting the stage for future funding rounds. Series B Funding: Scaling Up Operations  Once a startup has a solid business model and a growing user base, it is time to move on to Series B funding. This stage is all about taking the business to the next level, beyond the development stage, by expanding the market reach. Series B funding is usually the third round of financing for a startup. By this stage, the company has already proven its concept – its product or service has been well received by consumers, and there’s a clearly defined user base. The capital raised during this round often goes into bolstering the business structure, including team expansion, sales and marketing efforts, and even acquisitions if necessary. With the financial backing from Series B funding, startups can truly begin to establish themselves as significant players in their respective markets. Series C Funding: Expanding Further and Beyond  Startups that make it to Series C funding are usually quite successful and have a proven track record of using funds to grow their operations. This stage focuses on scaling the company and growing as quickly and successfully as possible. Series C funding is often the final stage in a startup’s funding lifecycle. At this stage, startups typically seek additional funding to help them develop new products, expand into new markets, or even acquire other companies. The investors at this stage are usually venture capitalists who focus on late-stage investing. Series C funding plays a crucial role in the expansion and scaling of successful businesses. It provides the necessary capital to pursue new market opportunities and consolidate the startup’s position in the market. At this stage, startups may also use the funding to acquire other companies and diversify their product or service offerings. Beyond Series C: The Path to an IPO  After Series C, some companies may opt for additional funding rounds such as Series D, E, and beyond if they have substantial growth plans that require more capital. These rounds are less common and usually involve significant amounts of capital from large institutional investors. The ultimate goal for many startups is to reach an Initial Public Offering (IPO), where the company’s shares are sold to the general public, marking a significant milestone in the company’s growth journey. What is an IPO? An IPO, or Initial Public Offering, is a process in which a private company offers its shares to the public in a new stock issuance. This allows the company to raise capital from public investors. The transition from a private company to a public company is a significant event that offers many advantages, as well as new challenges. The Significance of an IPO Reaching an IPO is a notable achievement for any startup. It signifies that the company has grown from a small startup to a large public company. Not only does an IPO provide a company with access to capital from public investors, but it also increases the company’s visibility and credibility in the market. Final thoughts on Start-Up Funding Rounds Startup funding rounds are a critical part of a company’s journey from a small startup to a large public company. Each round serves a specific purpose, whether it’s getting the startup off the ground, developing a business model, scaling operations, or preparing for an IPO. As a founder, understanding the different stages of funding can help you plan your fundraising strategy effectively and ensure that your company has the capital it needs to grow and succeed. For startups based in Ireland, there are several unique opportunities available for raising funds. This includes applying for government grants through schemes such as the Enterprise Ireland Innovation Voucher Scheme. There are also a number of venture capital firms, such as our own Furthr VC, based in Ireland that offer funding opportunities for startups. Additionally, crowdfunding has become an increasingly popular method for startups to raise funds in Ireland, with platforms like Spark Crowdfunding, Fund it, SeedUps Ireland, and Linked Finance helping a diverse range of projects secure the necessary funds. For more information about startup funding rounds or any other enquiries, please feel free to get in touch with us at  hello@furthr.ie . We’re always here to help guide you through the complex world of startup funding.

Ireland, with its vibrant start-up ecosystem and a range of funding options, offers an ideal environment for entrepreneurs. From grants to venture capital, crowdfunding to loans, start-ups in Ireland have numerous avenues to secure funding. This article provides a comprehensive overview of the start-up funding landscape in Ireland, guiding entrepreneurs through the various stages of funding and the available sources of capital. Understanding the basics of Start-Up Funding Start-up funding refers to the money raised by a new company to finance its initial operations, growth, and development. This funding can come from various sources, each offering different amounts of capital, terms, and conditions. The process usually begins with  seed funding , followed by  Series A, B, and C funding rounds . Government Supports and Grants The Irish government offers numerous schemes to support start-ups, one of which is the  Enterprise Ireland Innovation Voucher Scheme . The government also provides the  Employment Investment and Incentive Scheme  (EII)  that offers tax relief for Irish taxpayers who invest in certain companies. The  High Potential Start-Up (HPSU)  Scheme is another initiative for start-ups with the potential to develop an innovative product or service for sale on international markets. Lastly, the  Start-up Entrepreneur Programme  (STEP)  is a government initiative allowing innovative entrepreneurs to establish their businesses and reside in Ireland. Venture Capital Funding Venture Capital firms usually invest in companies in their early stages of development that have high growth potential. Some renowned venture capital firms in Ireland include Kernel Capital and Atlantic Bridge Ventures. Venture capital firms usually participate in Series A, B, and C funding rounds. Furthr has its own venture capital firm,  Furthr VC , which invests in early-stage startups in the B2B SaaS and MedTech sectors. Furthr VC is one of the most active early-stage VCs in Ireland and is hands-on, providing support to teams across key strategic areas to accelerate growth.  Crowdfunding   Crowdfunding is a method of raising capital through the collective efforts of people via platforms like Spark Crowdfunding. Crowdfunding in Ireland can be categorised into donation-based, reward-based, equity-based, and debt-based crowdfunding. Personal Savings and Loans   Personal savings and loans from financial institutions are other options for financing a start-up. Loans must be repaid with interest, so this decision should be made cautiously. R&D Tax Credits Ireland offers generous R&D tax credits to start-ups. Even if a start-up is in the loss-making phase, these tax breaks may provide immediate cash flow benefits. The programme allows businesses to claim a tax credit of 25% on eligible R&D expenditure. It encourages innovation, attracts investment, and supports the growth of the Irish economy. Companies can also exploit intellectual property at favourable tax rates and avail of accelerated tax depreciation allowances for energy-efficient equipment. The R&D tax credit regime in Ireland changed in 2022 to a fully payable credit paid in three fixed instalments over three years, with no cap on the amount of credit that can be monetised. Tax Incentives Ireland’s favourable tax regime makes companies based in Ireland more attractive to investors. This includes a low corporation tax rate of 12.5% combined with favourable double tax agreements. Business Angels and Seed Funds  A strong and growing network of local Business Angels, Seed Funds, and Venture Capitalists (VCs) exists in Ireland. They often have experience in the sector and industry contacts that can help get the business in motion.  Angel investors can be a good option for funding start-ups as banks are usually reluctant to lend money to new entrepreneurs. These investors assess the potential profitability and risks of a business before investing. Start-Up Accelerator Programmes  Ireland has a network of start-up accelerator programmes. Almost all of these provide some form of funding to participants in addition to mentoring, incubation space, and workshops. Furthr delivers a range of accelerator programmes designed by our experienced team of mentors. These accelerators are informed by our deep experience of advising businesses on how to grow and scale, and connecting them with investors since 1998. Our accelerator programmes include: Ready, Set, Go Furthr   – A one-day pre-accelerator workshop to help ambitious founders get started on the right path, uncovering the fundamentals of the entrepreneurial journey. Furthr Foundry   – A 12-week accelerator programme for ambitious Startups who are looking to raise pre-seed funding nationally or internationally. Venture Build  – Delivered by Furthr on behalf of Enterprise Ireland, the Venture Build programme, delivered over a six-month period has been designed specifically for Enterprise Ireland HPSU clients who are engaged in DeepTech and Life Sciences research. Prep4Seed  – Prep4Seed is delivered by Furthr and the Irish BICS on behalf of Enterprise Ireland. A 3-month programme designed to support Enterprise Ireland HPSU clients in identifying and delivering critical milestones required to progress their business and raise investment in their seed round.  Enterprise Ireland Enterprise Ireland  provides a myriad of support for the startup community, focusing on high-potential, export-oriented businesses. These supports include financial aid, professional advice, mentoring, and assistance with international expansion. Supports are provided through experienced advisors and are either free or heavily subsidised, catering to the specific needs of Irish startups. In addition to public funding, they help startups access private funding sources, making Ireland a conducive environment for startup growth. Furthr’s business consultants prep and guide founders to better equip them to apply and successfully attain these funding supports. Local Enterprise Offices  Local Enterprise Offices  offer advice, information, and support to start-ups and growing businesses. Supports include start-your-own-business training courses, market research information, business planning advice, and templates, access to experienced business mentors, feasibility grants, and co-investment. Funding is a critical factor for the success of any start-up. Entrepreneurs need to understand the various sources of funding available and make informed decisions. Whether it’s government grants, venture capital, crowdfunding, personal savings, loans, or other sources, each offers unique advantages and considerations. Ultimately, the best funding option depends on the specific needs, goals, and circumstances of the start-up. Want to know more about the support you have?  Talk to us at  hello@furthr.ie  .

Ireland is a country known for its vibrant business ecosystem, offering a wide range of funding supports to help Irish businesses drive growth and innovation. Whether you are a start-up with an idea, or an established company looking to expand and scale, there are funding supports available in Ireland to help you on your journey. In this comprehensive guide, Furthr explores the various funding supports available in Ireland, providing you with valuable insights and information, and helping you navigate the Irish funding landscape. Understanding EU funding The European Union (EU) plays an instrumental role in providing funding support for start-ups in Ireland. The EU offers financial assistance across diverse areas such as education, research, employment, regional development, environment, agriculture, and more. SMEs, non-profit organisations, researchers, farmers, and public bodies can all benefit from significant support. EU funding opportunities are accessible through various channels and programmes, making it easier for businesses of all sizes to access finance and support. The EU’s vast array of resources to aid start-ups and SMEs are spread across direct funding, collaborative initiatives and network support. The direct funding includes The Competitiveness of Small and Medium-sized Enterprises (COSME) programme, the European Innovation Council (EIC) Accelerator, The European Fund for Strategic Investments (EFSI) and InnovFin – Finance for Innovators. Few other indirect funding and support provided by the EU for start-ups in Ireland include investments made by the European Investment Bank Group (EIB) through its partner banks, the Horizon 2020 programme, the Eurostars Joint Programme, etc. The EU also has some collaborative efforts that they deliver mainly through Scale Ireland.     Furthr : Business support for every stage of the Entrepreneurial Journey Furthr, funded by the Department of Trade and Enterprise, via Enterprise Ireland, provides a range of supports to enable founders to start and scale their businesses, all provided pro-bono to the start-ups. These supports include programmes, workshops and networking events for founders such as Ready, Set, Go Furthr, Pitch Jam, Venture Build and Prep4Seed. Furthr also provides a 1-2-1 mentorship programme, where you can work with a team of business consultants who have also walked in the entrepreneurs’ shoes, having in-depth industry knowledge of having started, scaled and exited many successful businesses. Regardless of where you are on your journey, the team at Furthr can help you. Furthr also has its own venture capital arm, Furthr VC and a private investor network, The Furthr Investor Network. In April 2024, Furthr launched Furthr Foundry, a 12-week pre-seed accelerator established with the intention of delivering 10 investor-ready high-potential start-ups who will take on pre-seed investment following their successful completion of the programme. Furthr VC FurthrVC has significantly shaped the landscape of the Irish start-up ecosystem through strategic investments and robust partnerships. our focus on B2B software and MedTech companies, backed by a €32 million fund, underscores our commitment to nurturing high-potential businesses. We have invested up to €650K initially in numerous startups, with the potential for follow-on investments reaching up to €3m. Notably, our investment in LearnUpon, which raised $56m, exemplifies our impact, adding 100 jobs internationally.  Furthr Investor Network   Furthr Investor Network is a private investor network that aims to provide a complete investment experience for sophisticated investors. Our services are designed to be hassle-free, covering all aspects from identifying investment opportunities to providing legal support and ongoing assistance. What sets us apart is our vast network of private investors who possess in-depth industry knowledge, experience, and sales channel access which is utilised on a deal-by-deal basis. Furthermore, we collaborate and co-invest with our sister company, Furthr VC, whenever it makes sense. We provide experienced investors who are interested in investing in high-growth start-ups with access to diverse national and international investment options, as well as the necessary resources and support to make successful investments.  We focus on providing access to curated, later-stage deal flow in emerging sectors including Enterprise SaaS, AI and MedTech. In addition, we host regular events for networking and to hear the ongoing experience from portfolio companies. Enterprise Ireland:  Supporting Business Development Enterprise Ireland provides an extensive range of support for Irish businesses. They provide funding and other forms of support for companies at different stages of development. Whether you are an entrepreneur with a high-potential start-up (HPSU) or a large company aiming to expand internationally, Enterprise Ireland offers tailored support to help you improve efficiency, grow sales, and drive innovation. Additionally, they provide funding and support for college-based researchers to facilitate technology transfer into industry. Different Funding Stages for Companies  Enterprise Ireland provides funding and support across different stages of company development. Let’s take a closer look at the various stages: Pre-Seed Start Fund (PSSF): Enterprise Ireland provides €50,000 or €100,000 investment which is by way of a Convertible Loan Note (CLN) to accelerate the growth of early-stage start-ups that have the capacity and ambition to succeed in global markets. The fund is intended to enable companies to cover the primary operational costs to undertake key tasks such as the development of a market-ready product/solution, product testing in the marketplace, and building critical skillsets within the founding team. High Potential Start-ups (HPSUs): For entrepreneurs with business propositions that have the potential for rapid growth and international scalability, Enterprise Ireland offers specific funding and support programmes. These programmes aim to nurture and develop promising start-ups, providing them with the necessary resources and guidance to succeed. Early-Stage Development: Businesses that have progressed beyond the start-up phase but still require support for further development can access funding and support from Enterprise Ireland. This stage focuses on helping companies refine their business models, strengthen their market position, and enhance their competitive advantage. Expansion and Growth: Established companies looking to expand their activities, improve efficiency, and grow their international sales can avail themselves of funding and support from Enterprise Ireland. These programmes aim to assist companies in scaling their operations, entering new markets, and driving sustainable growth.   Research and Development (R&D) Funding  Ireland recognises the importance of innovation and research in driving economic growth. As such, there are various funding supports and mechanisms specifically designed to encourage R&D activities. The most relevant support available to businesses varies depending on factors such as company size and the type of research being undertaken. SMEs are a vital sector in the Irish economy. To foster innovation and support R&D within these businesses, Ireland’s national development agency, Enterprise Ireland, provides targeted funding supports. The Competitiveness of Small and Medium-sized Enterprises (COSME) program, designed for SMEs, facilitates access to finance at every stage of business development, from creation to expansion. This programme aims to make it easier for SMEs to secure the funding they need to drive innovation and growth.  Collaboration with Higher Education Institutes and Research Organisations To further promote research and development, Ireland encourages collaboration between businesses and higher education institutes (HEIs) or research performing organisations. This collaboration allows businesses to tap into the research expertise, resources, and facilities available within these institutions. By leveraging the knowledge and capabilities of HEIs and research organisations, businesses can enhance their R&D efforts, drive innovation, and create a positive impact on the economy. The Enterprise Ireland Venture Build pilot programme, designed and delivered by Furthr on behalf of Enterprise Ireland and taking place in the Guinness Enterprise Centre, has seen 15 of the most innovative, University-based, research projects in the state, come together to accelerate the commercialisation of research towards HPSUs (High Potential Start-Ups). Research teams from UCC, UL, NUIG, RCSI, UCD and TCD at the cutting edge of Life Sciences and Deep Tech, and currently receiving Enterprise Ireland commercialisation funding are engaged in a six-month deep dive to determine how to bring their work from the laboratory bench to the marketplace. The programme has given the participants access to industry veterans, VCs, regulators, economists and experts in HR, governance, finance and sustainability, culminating in a real pitch to real investors. Key Considerations for Funding Opportunities When exploring funding opportunities in Ireland, it is crucial to consider several factors that can influence your eligibility and the most suitable funding source for your business. These considerations include: Company Size: Funding support may vary depending on the size of your company. Micro, small, and medium-sized enterprises often have access to specific funding programmes tailored to their needs, while larger companies may have access to different funding mechanisms. Research Focus: The type of research you are undertaking plays a significant role in determining the most relevant funding source. Whether it is R&D infrastructure or research expertise, Ireland’s HEIs, research-performing organisations, and centres of scale offer resources and support for various research areas. Eligibility Criteria: Each funding programme or initiative may have specific eligibility criteria that businesses must meet to qualify for funding. These criteria can include factors such as location, industry sector, project scope, and collaboration requirements. Application Process: Understanding the application process and requirements is crucial when pursuing funding opportunities. It is advisable to thoroughly research each funding programme, review the application guidelines, and seek support from relevant agencies or experts to ensure a successful application.   Conclusion In conclusion, Ireland offers a diverse range of funding opportunities to support businesses at different stages of development and promote innovation. Whether you are a start-up, an SME, or a large company, there are funding supports and mechanisms available to help you drive growth, improve efficiency, and enhance your competitiveness. By leveraging EU funding, collaborating with higher education institutes and research organisations, and accessing funding supports from Enterprise Ireland, businesses in Ireland can unlock their full potential and contribute to the country’s thriving business ecosystem. As an entrepreneur, venturing into the world of sourcing funding and raising investment can be daunting and that’s where Furthr can help. Furthr has been helping Irish businesses for over 35 years. With a strong presence in the startup ecosystem, Furthr can guide you through the nuances of the start-up environment, helping you to decipher the ecosystem and deliver game-changing impacts for your business. Furthr offers one-to-one and one-to-many programmes to help start-ups at different stages of their journey. For more information visit furthr.ie If you want to know more about Furthr and how we can support you, please drop us a message at  hello@furthr.ie

The start-up landscape has experienced a tremendous transformation over the past decade, with accelerators playing a key role in shaping the dynamic Irish ecosystem. As a start-up, the decision to join an accelerator can be a key success factor for the founder, providing a springboard to success. This article aims to dissect the world of accelerators, highlighting the benefits of joining accelerators and providing a roadmap for start-ups to navigate their way through this terrain. What Are Start-up Accelerators? Start-up accelerators are intensive, mentor-led programmes that aim to  accelerate  the growth trajectory of early-stage companies. These programmes typically last for a fixed period, commonly three to six months, during which start-ups receive guidance, resources, and often an initial seed investment, in exchange for equity. They offer resources such as capital, mentorship, and shared coworking spaces for the startups to utilize during their growth phase. The programmes typically culminate in a “graduation” or demo day, where the startups showcase their progress and products. There are many big names in the industry, however, a few notable examples of startup accelerators include Y Combinator, Techstars, 500 Start-ups, Founders Factory and AngelPad. The Accelerator Landscape in Ireland Ireland has embraced the accelerator model, offering a diverse selection of programmes that cater to various sectors and stages of business development. From the National Design Research Centre (NDRC), ranked the number 1 university accelerator in Europe, to RebelBio, the world’s first life sciences accelerator, Ireland provides a range of accelerators for start-ups. Furthr offers a range of accelerator programmes, designed and delivered by their team of business consultants who have deep experience of advising businesses on growth and scaling. Having already helped thousands of businesses start and scale for over more than 35 years, Furthr can provide you with all the supports you need on our journey, for all the moments that matter. Furthr’s accelerator programmes caters to the different phases of the business journey spanning across explore & design, validate & evaluate, launch & execute and grow & scale – Ready, Set, Go Furthr, Venture Build and Prep4Seed. In 2024, Furthr launched  Furthr Foundry , a 12-week accelerator programme for ambitious startups looking to raise pre-seed funding nationally or internationally.This is a highly interactive in-person programme, result-focused, with small cohorts. The programme is delivered at the Guinness Enterprise Centre and selected Start-ups are also provided with programme-dedicated office space. Furthr’s accelerator programmes are pro-bono, which means the services you avail are paid for. Furthr doesn’t ask for equity in your company and extends its support beyond the accelerator programme to ensure that you get all the necessary support to thrive in the ecosystem. The Nuts and Bolts of Accelerator Programmes Accelerator programmes are structured to provide intensive guidance and support. Participants have access to a network of industry professionals, experienced entrepreneurs, and potential investors. The programme concludes with a “demo day”, where start-ups pitch their ideas to an audience of potential investors and industry stakeholders. The Benefits of joining an Accelerator Joining an accelerator offers a plethora of benefits for start-ups. Here are some of the key advantages: Access to Resources Accelerators provide start-ups with a multitude of resources, including mentorship, networking opportunities, and access to funding. These resources can prove indispensable for early-stage start-ups looking to scale quickly. Exposure Participating in an accelerator can significantly enhance a start-up’s visibility, attracting the attention of investors and potential customers. This exposure can provide a much-needed boost for start-ups seeking to break into competitive markets. Structured Learning and Mentorship Accelerators offer structured educational programmes designed to help start-ups grow and scale their businesses. These programmes provide valuable guidance and support, enabling start-ups to navigate the challenges of business growth. Faster Growth Accelerators provide start-ups with a wealth of resources and connections, helping businesses scale faster than they would on their own. Considerations when joining an Accelerator While accelerators offer numerous benefits, there are some factors you should consider before joining an accelerator: Equity Sacrifice One of the downsides of accelerators is the equity that they require in exchange for their services. This can range from 5% to 10% or more, depending on the programme. For some start-ups, this might be a high price to pay. Time Commitment Accelerators can be demanding, with a rigorous schedule and intense workload. Balancing the demands of the accelerator with the needs of the business can be challenging. Limited Flexibility The structured nature of many accelerator programmes can limit a start up’s ability to pivot or make changes to its business model. This could potentially stifle innovation and hinder the start-up’s ability to adapt to changing market dynamics. Pressure to scale quickly The pressure to scale quickly can lead to shortcuts being taken or corners being cut, which can have long-term consequences for the business. It’s important for start-ups to carefully consider whether they are ready for such rapid growth and whether it aligns with their overall business strategy. Is an Accelerator the right choice for your Start-up? The decision to join an accelerator should be based on a careful evaluation of the specific needs, goals, and stage of your start-up. It’s crucial to thoroughly research potential accelerators, assessing their reputation, track record, and the quality of their network and mentors. Conclusion While joining an accelerator is not a guaranteed ticket to success, the benefits can be substantial for start-ups looking to grow quickly. The key is to choose the right accelerator that aligns with your start-up’s needs and goals. Remember, an accelerator is just one piece of the puzzle in your start-up’s journey to success. It’s up to you to make the most of this opportunity and leverage the resources, mentorship, and network that accelerators offer to catapult your start-up to the next level. Want to know more about Furthr and how our accelerator programmes can help your business? Drop us a message at  hello@furthr.ie  .

Enterprise Ireland stands in the forefront of start-up support in Ireland, helping Irish businesses to grow and scale. Enterprise Ireland, the national economic development agency, is a beacon of support for businesses of all sizes, particularly those within the manufacturing and internationally traded sectors. Through a comprehensive suite of funding opportunities and support programmes, the agency aids businesses at every stage of their development. Here, we delve into the specifics of these offerings, shedding light on how businesses can tap into this wellspring of support. The Jewel of Ireland’s Economic Crown: Enterprise Ireland  Enterprise Ireland is a state-backed agency that plays a pivotal role in the development of manufacturing and internationally traded service businesses. The agency’s support spans from fledgling entrepreneurs harbouring high-potential start-up ideas to large corporations that intend on expanding their operations, enhancing efficiency and boosting international sales. Enterprise Ireland’s support is not confined to financial aid alone. The agency also provides comprehensive advice, mentorship, and invaluable introductions to help businesses venture into overseas markets. The ultimate goal is to simplify the process of starting and growing a business in Ireland and to facilitate penetration into global markets. Unravelling the Funding Opportunities for Start-Ups    Funding and support are the lifeblood of start-ups. In Ireland, a wealth of support programmes and experience awaits businesses via Enterprise Ireland. The funding and investment opportunities are available to early-stage companies and those in growth phases, through both public funding grants and private sector sources.  The   New Frontiers Programme  for Early-stage Start-ups The New Frontiers programme is an excellent initiative for businesses in the early stages of development. This programme, delivered at a local level by 18 Technological Universities and Institutes of Technology across Ireland, is designed to transform your innovative idea into a booming start-up. High Potential Start-Up  (HPSU)  Funding: The Gateway to Investment  Businesses with the potential to create an innovative product or service for international markets could be eligible for High Potential Start-Up (HPSU) funding. If the start-up has the potential to generate 10 jobs and €1 million in export sales within three years, they may qualify for assistance from Enterprise Ireland as a High Potential Start-Up. Furthr  supported many start-ups from the Leinster region that received HPSU approval throughout their journey. Feasibility Grants : Nurturing Your Idea from Seed to Sapling  Enterprise Ireland provides Feasibility Grants to help businesses reach the investor-ready stage. This grant supports various activities such as market research, business plan development, technical research and prototyping.   Pre-Seed Start Fund (PSSF) : Catalyst for Start-Up Growth Replacing the Competitive Start Fund, the Pre-Seed Start Fund (PSSF) offers investment in the form of a convertible loan note. This fund is designed to help start-ups cover operational costs while undertaking key tasks such as developing a market-ready product or building critical skillsets within the team. Furthr   hosts  online workshops  to help the applicants gain a better understanding of the Pre-Seed Start Fund process and Enterprise Ireland’s requirements for a successful application.  Established SME  Funding Established SMEs, i.e., companies with more than 10 employees, can avail of a broad range of support from Enterprise Ireland. These supports help with market research, internationalisation, research and development, innovation, leadership and management, business improvement, and expansion. Large Company Funding : Promoting Expansion and Innovation   Large companies employing over 250 employees can tap into Enterprise Ireland’s support to aid their growth. The categories of support are adapted to suit the needs of larger businesses and offer a comprehensive suite of funding, programmes, workshops, and grants. A list of other supports and grants provided by Enterprise Ireland. Please stay updated with the changes on the website. Empowering Women Founders and Leaders Enterprise Ireland recognises the underrepresentation of women in leadership roles across Ireland and is committed to bridging this gender gap by empowering them. They run several capability-building programs such as  Going for Growth   and   Exxcel ,  specifically designed to support women entrepreneurs. Enterprise Ireland’s website has a dedicated  Female Entrepreneurship   page that provides valuable resources and information. They have established a Female Entrepreneurship Unit that aims to support female-led businesses. The six-year   Action Plan for Women  in Business by Enterprise Ireland is another initiative aimed at increasing the participation of women in entrepreneurship. They launched an action plan in 2020 that aims to usher more women into business at all levels, notably senior roles, and support female-led businesses. The plan is continually evolving, so it’s worth keeping an eye out for any new opportunities it offers. Enterprise Ireland also provides support through initiatives like the Women in Business Networks. Conclusion Enterprise Ireland is a cornerstone of Irish business development, offering a wealth of resources to businesses at every stage of growth. The agency’s diverse range of funding opportunities and support programmes can provide the vital support businesses need to thrive on both domestic and international stages. With a focus on innovation and international trade, Enterprise Ireland is an essential partner in the journey towards business success. Want to know more about the support provided by Enterprise Ireland and how Furthr can help? Talk to us at  hello@furthr.ie .

What Every Startup Founder Should Know: As an entrepreneur looking to take your startup to the next level, you may have come across the term’s “incubator” and “accelerator” in your research. While the two programs share similarities, they have distinct differences that make them suitable for diverse types of startups. In this guide, we will focus on Accelerators – what they are, how they work, and what benefits they offer to startups. Furthr delivers a range of accelerator programmes designed by our experienced team of startup mentors. These accelerators are informed by our deep experience of advising startup businesses on how to grow and scale and connecting them with investors since 1988. What is an Accelerator? An Accelerator is a programme, that provides startups with the skills, knowledge and competencies to take their business from idea/minimum viable product through to being an established business that is growing and scaling. It does this through the provision of mentorship, experiential learning and sharing with other entrepreneurs, and in many cases the provision of small amounts of ‘pre-seed’ funding ranging between €10K and €100K approx. Accelerators typically operate on a fixed timeline, usually around three to four months, during which startups receive intensive support to robustly develop their business models and business assumptions, hone their value proposition and prepare them for investment. How Does an Accelerator Work? The application process for an accelerator is highly competitive. Startups need to demonstrate that their business has the potential to have a highly scalable business model. They need to understand the journey to getting product market fit and the importance of strong market validation of their value proposition at the early stages of growth. If accepted into an accelerator, startups receive mentorship from experienced entrepreneurs and business leaders, and the possibility to connect to a network of investors and industry experts. The programme typically kicks off with an orientation, where startups get to know the accelerator’s staff and fellow participants. During the programme, startups receive mentorship from industry experts and successful entrepreneurs, who guide them through the process of the continual testing and refining of the value proposition of the product and service, and evolving their business models. On completing accelerators, the companies are closer to being ‘Investor Readiness’. During the time on the accelerator, they will develop a compelling investor proposition that has been robustly tested and stands up to investor scrutiny. Many accelerators also offer a wide range of resources to startups, including co-working space, legal and accounting advice, marketing support, and access to investors. At the end many accelerator programmes startups typically pitch their businesses at a demo day, where they can showcase their business to a panel of investors. Benefits of an Accelerator 1. Mentorship One of the most significant benefits of an accelerator is the mentorship provided to startups. Mentors are successful entrepreneurs or industry experts who provide invaluable guidance and support to startups. They offer advice on everything from refining the business model to product development, building out operations, growing teams, sales, marketing, and fundraising. 2. Funding Accelerators typically offer startups exposure to investors and the investment community. On completing an accelerator, a startup should have a clearer picture as to what funding it would need to raise to execute on its business plan. This funding can be critical for startups, as it provides them with the capital, they need to develop their products or service fully, hire key staff, and get into the market selling their solution.  Accelerators will offer education and exposure on the various types of investment start-ups can raise, from Venture Capital to Angel investment, Crowdfunding and much more. 3. Network Accelerators provide startups with access to a broad network of investors, industry experts, and successful entrepreneurs. This network can be invaluable for startups, as it provides them with opportunities to connect with potential investors, strategic partners and/or customers 4. Resources Accelerators usually provide startups with a wide range of in kind resources, including co-working space, legal and financial advisory services and basic marketing support’s and guidance, These resources can be expensive for startups to obtain in the open market, making the accelerator program an excellent value proposition to keep costs down but significantly progress your business towards sustainable growth 5. Branding and Credibility Participating in an accelerator program can also enhance a startup’s brand recognition and credibility. Being accepted into a reputable accelerator can signal to investors and potential customers that the startup has been vetted and is worth considering. How to Choose the Right Accelerator Choosing the right accelerator can be a critical decision for a startup. Here are some key factors to consider when evaluating accelerator programmes: 1. Industry Focus Accelerators often have a specific industry focus. Look for an accelerator that aligns with your startup’s industry to ensure that you receive the most relevant mentorship, resources, and networking opportunities. 2. Programme Length Accelerator programmes vary in length, with most lasting between three to four months. Consider how much time your startup needs to prepare for investment and choose an accelerator program that aligns with your timeline. 3. Mentorship The quality of mentorship provided by an accelerator is crucial to the program’s success. Look for an accelerator that has a proven track-record of providing excellent mentorship and access to industry experts. 4. Alumni Network Consider the accelerator’s alumni network and how it can benefit your startup. An active alumni network can provide ongoing mentorship, networking opportunities, and potential partnerships. At Furthr we understand the challenges that face startups from the beginning of their journey all the way through to taking on investment and scaling. Accelerators offer startups a unique opportunity to accelerate their growth, receive valuable mentorship, and access funding and resources. Choosing the right accelerator can be a critical decision for a startup, and it is essential to evaluate the program based on factors such as industry focus, programme length, funding and equity, mentorship, and alumni network. With the right accelerator program, startups can take their businesses to the next level and achieve their growth goals.  Check out Furthr’s full range of accelerators  and our 1:1 consultancy offering that will support your startup at every stage.