On Tuesday, Minister Eoghan Murphy announced the recipients of the 2016 Fintech Competitive Start Fund. The ten startups that were placed in the three-month development program were each awarded €50,000 in equity support earlier this year. The applicants also received membership to Dogpatch Labs, in partnership with Ulster Bank and access to the Ulster Bank Innovation Solutions team. They participated in a series of masterclasses provided by industry experts from the Fintech and Payments Association of Ireland (FPAI).
The ten recipients are the following:
- id-Pal
- WeSavvy
- CyberRiskAware
- AssureHedge
- MartelloLowCarbonSolutions
- Ciaran McGuckian
- UCompare
- Tucr
- Inship
Speaking about the ten fintech startups, Minister Murphy shared:
“I congratulate the companies here today on completing the development programme. Strengthening our indigenous Fintech sector as a source of high-value job creation is a key objective of the Government’s IFS 2020 Strategy. This programme’s mentoring and sponsorship model demonstrates how we can effectively harness industry scale and expertise while nurturing mutually beneficial links with our innovative start-up community. I welcome Enterprise Ireland’s initiative to support the development of a world-class start-up ecosystem, and wish these companies every success for the future”
Leo McAdams, Divisional Manager ICT & International Services of Enterprise Ireland commented:
“The FinTech Competitive Start Fund is part of Enterprise Ireland’s strategy for increasing the number and quality of High Potential Start-Ups companies that have the potential to employ more than 10 people and achieve €1 million in export sales within three years. The companies and entrepreneurs graduating here today are prime examples of start-ups with global ambition, who will continue to drive Ireland’s reputation as a market leader in the provision of fintech products and services upwards”.
Ciaran Coyle, Chief Administrative Officer at Ulster Bank added:
“Ulster Bank is proud to support this initiative and the ten companies who have gone through the programme. Engaging with the FinTech community in a collaborative way is key for Ulster Bank as we strive to become the number one bank for customer service, trust and advocacy. I look forward to continuing to engage with these companies in the future.”