Cork based Security Accelerator Teams raise €5million and create 30 Jobs exceeding targets over 12 months
Sunday Feb 3rd 2019: In the historic surroundings of the Port of Cork, the second cohort of Ireland’s first International Security Accelerator pitched for investment. For this years Demo Day, CorkBIC welcomed Investors, VCs and Seasoned Entrepreneurs to hear the six Accelerator Teams pitch for investment. These teams, from global locations are looking to employ up to 30 people over the next 12 months and are in the process of raising (some already raised) over €5 million in investment.
This second cohort of the CorkBIC International Security Accelerator began in mid October 2018. The programme invests in early stage deep tech, disruptive companies focused in the wider security industry across Cybersecurity, Artificial Intelligence, Internet of Things (IOT), Blockchain, Health & Bioinformatics, MedTech, Fintech, Regtech, & Logistics. The Accelerator is privately funded and supported by key partners Kernel Capital and Trend Micro.
Following 13 weeks of intensive mentoring and in-depth workshops with a focus on the team, technology, business model, market opportunity and investor readiness, the six teams are currently seeking investment in their businesses. World class mentors such as Julian Costley, Investor & Serial Entrepreneur; Donagh Kiernan, Tenego Partnering; Joe O’Sullivan, Ophir; Paul Hands, Open Innovaion Partners; Declan Fox, Magellan Partners and Ronan Murphy, Smarttech have challenged and advised the teams while sharing their experiences.
In the picture: Pallav Singh, Kruzr; Surbhi Rathore, Rammer.ai; Heiko Baumgartner & Alex Babanin, NNOVA; Conor Lyden, Trustap; Laura Mellett, CorkBIC; Allan Beechinor & Daragh O'Brien, Noppera.
The Winner of the Most Investible Company, Conor Lyden founder of Trustap, said “Winning the Most Investible Company is huge validation of the progress we have made over the past 13 weeks. Participating in the Accelerator has helped us with refining our business proposition, getting investor ready and ensuring we have the right ‘go to market’ strategy”.
Run by Entrepreneurs for Entrepreneurial Teams
Key to this Accelerator is the focus on team, the product proposition and the transformational process and change. Each of the teams has made significant progress over the 13 weeks, with Kruzr, closing $1.3 million investment.
Following the successful completion of a second cohort the programme is open for applications for a third round via isa.corkbic.com.
William Dalton, Director EMEA IS & Corporate Technology, Trend Micro added: “It has been really interesting to watch these teams grow over the 13 week Accelerator and to watch the change taking place. The technologies involved are crucial in today’s connected world and there is no doubt there are some real rising stars in the group.”
In the picture: Ger Goold, Kernel Capital; Conor Lyden, Trustap, (Winner Most Investible Company) and Bob McArdle, Trend Micro
Commenting on the Accelerator programme, Ger Goold, COO & Partner at Kernel Capital, said: “Cork is developing a reputation for Ireland’s growing Security Cluster. This Accelerator is a unique opportunity for startups to tap into the experience and resources of the strong network of Cork’s multinationals, such as Trend Micro, helping these startups grow, succeed, and in turn contribute to the Cluster.”
Partners for the International Security Accelerator are Kernel Capital, Bank of Ireland, Trend Micro, CorkBIC and Cork City Council.