There are plenty of startup supports for most sectors, which makes accessing finance easier than you may think – although there is quite a lot of paperwork and subsequent application processes to go through! Being involved in early stage businesses generally means navigating the maze of resources available. For founders and innovators in the area of property technology, be sure to contact Proptech Ireland and have your product and services listed on our database, which is shared with proptech hubs internationally. Proptech Ireland also provides the only proptech-focused mentoring and matching-up of industry innovators and investors. We are part of the global AcceliCITY accelerator based out of Boston (through our partnership with Leading Cities) and we refer suitable candidates to accelerator programmes in the UK, mainland Europe, the US and Canada (with more planned).
Other Irish resources include:
Local Enterprise Office
The Local Enterprise Office is for people starting a new business or people already trading, including entrepreneurs, early-stage promoters, start-ups and small business looking to expand. You can find out more information and details about your nearest office on https://www.localenterprise.ie/
Bank Finance
Funding options are available from your bank and some boast features that will suit SMEs or early businesses. Depending on the position of your PropTech business this may suit and with a few visits to your local bank you could potentially be in a much better financial position.
Startup Refunds for Entrepreneurs (SURE)
Need an injection of cash for your PropTech start-up? Then, this may suit your business as you can claim back the income tax if you are an employee, an unemployed person or a person recently made redundant and are now starting a business. It could get your business flying!
Three-year Corporate Tax Exemption
Under this scheme, you can technically earn €120,000 tax-free for the first three years. The scheme gives relief from corporation tax on your trading income, and certain other gains new companies may acquire, for the first three years. This kind of support is vitally important for start-ups especially as the early stages are so difficult.
The Employment and Investment Incentive Scheme
This scheme replaced the business expansion scheme and allows individual investors to get tax relief on investments they make in other companies. Perfect for PropTech startup investors.
Halo Business Angel Network (HBAN)
The HBAN umbrella group supports the early stage entrepreneurial/startup community in Ireland and enthusiastically works to increase the number of angel investors investing in early stage companies. It is a phenomenal resource and more information is available on their website https://www.hban.org/
New Frontiers Entrepreneur Development Programme
There are limited places available each year and the successful candidates each receive cash and training in areas like business planning, sales and marketing. New Frontiers is a national programme providing an integrated and comprehensive set of business development supports to participants. To find out more check out their website https://www.newfrontiers.ie/
The NDRC
This digital accelerator is suitable for some but not all founders. In addition to an initial cash investment of between €30,000 and €100,000 per company, the NDRC team provides business development advice and mentoring. They decide on what level of cash investment each venture qualifies for through investigating each venture’s business model. For more information, it is all on their website https://www.ndrc.ie/looking-for-investment
Seedcamp
Seedcamp invest in world-class founders from the early stage of a start-up targeting large, global markets and solving real problems using technology. They promise to unlock your start-ups full potential. Learn more here: seedcamp.com/
Enterprise Ireland has several options for start-ups including:
- The Competitive Feasibility Fund for Female Entrepreneurs
- The Competitive Start Fund
- The High Potential Start-up Unit
Competitions for start-ups that may prove useful are listed below:
- Ireland’s Best Young Entrepreneur
- Bank of Ireland National Start-up Awards
- Google Adopt a Startup
Crowdfunding:
Crowdfunding is an increasingly popular option for businesses looking to raise capital. In Ireland, there are several sites such as:
- Linked Finance
- Fundit.ie
- Seed Ups
The list above is ever-changing and by no means exhaustive, I welcome additions, amendments or experiences to carol@caroltallon.com