Part of a cohort of 19 teams taking part in Co-Founders, the five start-ups will now use the funding to validate their business and develop its commercial potential.
Five start-ups in Northern Ireland have been awarded £10,000 each by Techstart Ventures after graduating from a programme aimed at helping founders kickstart their business.
The proof-of-concept grants announced today (4 June) are the result of a partnership between Techstart Ventures, a VC firm that focuses on early-stage businesses, and Catalyst, a start-up and innovation hub based in Belfast.
According to the terms of the grants, the funding must be used by founders to “validate” their business and develop the “commercial potential” of the innovative concepts.
The five start-ups are part of a cohort of 19 teams that took part in Co-Founders, a programme aimed at matching entrepreneurs to come together and think of start-up ideas. It is similar to the Founders programme run by Dogpatch Labs in Dublin.
Hannah Cummings, programme manager for Co-Founders, said that the standard of the businesses who pitched for funding was of “such high quality it is evident the future of entrepreneurship in Northern Ireland is only going to continue to grow, if supported”.
“Co-Founders is all about opening doors, sharing knowledge and expertise and making connections that our participants can take with them and use in the future,” Cummings said. “The partnership with Techstart Ventures and £50,000 of grants is a connection that aims to continue supporting the businesses in gaining traction.”
Launched in 2017, the programme has seen more than 850 people graduate from it, leading to the creation of more than 230 start-ups.
“We were really impressed with the range of propositions we saw through the Co-Founders programme this year, and to meet so many impressive teams,” said Kathleen Garret, head of proof-of-concept grants at Techstart Ventures.
“The competition was very strong, and we are delighted to be able to support a number of the teams with grant funding to help take their solution to the next level. We wish all the founders every success in continuing to move forward.”
The five start-ups to win the Techstart grants are:
WearMatter: A clothing brand for people with disabilities who have challenges accessing fashionable, functional and comfortable clothing.
Staffly: A digital platform that empowers hospital trusts to find and hire temporary doctors, eliminating the use of expensive agencies.
Mor: A company that lets users create and sell an AI version of themselves for marketing videos.
Beacon Admissions: A platform that streamlines the admissions process for both universities and international students, creating a central hub for students with admissions-related tasks.
Funki Drinks: A producer of high-fibre solutions to boost people’s fibre intake.
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