Primary focus will be on Building Capability in participants and ability to Scale by:
Access to core mentors who will engage on a range of areas including:
CorkBIC - 25 years – 300+ high growth Startups – Raising Finance – Route to Market
CorkBIC is a public private-sector led organisation, specifically set up to identify and build knowledge intensive companies based on promising technology and capable innovative people. CorkBIC is a leading interdisciplinary venture consultancy operating in the South & Mid-West of Ireland with the support of Enterprise Ireland and the private sector. The company has provided an integrated process for incubating and growing 300+ high growth technology companies over the last 25 years with an 85% success rate.
MICHAEL O’CONNOR is CEO of CorkBIC, a venture consultancy specialising in high technology or innovative projects usually involving international growth. Previous experience was manufacturing and sales start-ups with Raychem Corporation before co-founding Intepro, a venture capital backed Irish IT start-up. Responsible for strategy and sales and marketing in the European start-up and led the US market entry with several rounds of international venture capital before divesting to a Swiss multinational. He graduated in Engineering from Cambridge, is a Chartered Engineer and holds an MBA from London Business School specialising in strategy and in International Finance from The Wharton School, University of Pennsylvania. He is currently a Board Member of EBAN (European Business Angels and Seed Funds Network) and it@cork.
EILEEN MOLONEY practised as a lawyer in the UK and the USA before returning to Ireland in 1984 to lead marketing for North Star VAR. Eileen co-founded Expert Edge Computer Systems in 1986 delivering expert system software solutions, heading up its UK start-up in London in 1991. Went on to provide Business Development & Marketing Consultancy to small and medium sized enterprises with limited marketing focus and to larger companies penetrating new markets ('92-94). Delivered Training Programmes for the IPA on Leadership & Modern Management Methods to top level Civil Servants in Europe. Joined CorkBIC in 1997 to develop the Graduate (later Genesis) Enterprise Programme (delivered via CorkBIC) - a one year rapid incubation for start-up companies. Has delivered several business start-up programmes. She is an Accredited Mediator for Commercial Dispute Resolution with the Chartered Institute of Arbitrators, London.
LARRY O’DONOGHUE is a Senior Consultant with CorkBIC and his role is to support high potential startups across the South West region. Prior to that, Larry worked for over eighteen years in technology, management consultancy, utilities, construction and sales training, in Boston, Dublin, London and Singapore, with companies such as State Street Bank, Sun Microsystems, PA Consulting and Singapore Power. On returning to Ireland, Larry founded and built two companies over ten years. Larry’s focus at CorkBIC is to work with entrepreneurs through concept development, market feasibility, business planning, funding, commercialisation and international growth stages. He works with a significant proportion of Enterprise Ireland’s HPSUs each year.
AIDAN O’DRISCOLL has spent the last twenty five years in the technology sector both in an executive and consultancy role. In 2012 he was one of the founders of the Irrus Investments Syndicate Group who have gone on to make several investments in the Life Sciences and Technology sectors. He has spent the last number of years working as an independent consultant working with companies in setting and implementing their strategic direction in the area of sales, marketing, finance and strategic management. His experience includes financial controller at Intepro Systems -transforming an engineering-led company into the world’s number one supplier of power supply AT instrumentation, software and turnkey systems. In 1991 he successfully negotiated the sale of the organisation to Shaffner, giving the VC investors a return in excess of 12% per annum. He spent 4 years with Avocent International as VP Sales EMEA from 1999 to 2002 where he expanded and grew the sales organisation to $35m annual turnover.
TED FOLEY has worked with a number of companies including KPMG, Revenue Commissioners and the Industrial Credit Corporation (ICC). Following 8 years with ICC, Ted joined AIB in 1988. In AIB he held a number of Senior Management positions, initially working in AIB’s Capital Markets Division with responsibility for setting up the Bank’s investment management operation in the West of Ireland. In 1992 he transferred to the Bank’s Retail Banking Division and moved to Cork as Regional Director for Cork and the South West. Since leaving AIB in 2010 Ted has worked as an independent business consultant in various sectors and has extensive experience across key areas of business performance. Originally from Caherciveen, Co Kerry, Ted is a keen golfer, holds a Commerce degree from UCC and served on the Board of Cork Chamber of Commerce for nine years.
International Business Angels - Angel Syndicates – HBAN – EBAN – VCs - Enterprise Ireland etc.
CorkBIC help startups to develop well-tested investor grade business plans that identifiy how to harness the opportunity and what funding might be required. They plays a hands-on role helping each entrepreneur navigate the minefield of raising finance, sorting out business propositions and arranging agreements with shareholders and investors.
CorkBIC’s extensive Investor Network includes Irish & International Business Angels, HBAN (Halo Business Angel Network), local and international VCs, Enterprise Ireland and Business Angel Syndicates to ensure that each Entrepreneur has access to a wide range of funding sources.
HBAN is an all-island Irish umbrella group responsible for the development of business angel syndicates and to increase the number of angel investors who are interested in investing in early stage companies. CorkBIC has a wide network of Irish and International Business Angel Investors as well as access to numerous HBAN syndicates located all over Ireland and Internationally.
2016 was a record-breaking year for business angel investment in Ireland, with €13.6 million invested in 50 early-phase businesses. Those investments leveraged a further €20.5 million from other public and private funds, bringing the total invested to €34.1 million. Since 2007, these angels have invested €73 million in 362 separate deals. When the €113 million invested by other funds in those deals is added, this is an overall total of €186 million invested in startups in the last 10 years.
Internationally CorkBIC works with EBAN (The European Business Angels and Seed funds Network) organising events and initiatives like Venture Academy and pitching events. Michael O’Connor, CEO, CorkBIC is on the board of EBAN. EBAN is the pan-European representative for the early stage investor community, with 197 member organisations in 59 countries. EBAN represents a sector estimated to invest €6.1 billion Euros a year, playing a vital role in Europe’s future, notably in the funding of SMEs.
*2007 - 2016
Office Space is provided for up to 9 months in a purpose built Accelerator space in Cork City Centre. Approximately 2,500 sq ft of fitted out co-working space is being provided on Eglington St, Cork. The space has 24x7 own door access onto Eglington St opposite the Elysian complex. Parking is next door and it is 5 minutes from bus, rail and 10 minutes from the International Airport. Coffee shops, restaurants, hotels and theatre on your doorstep. To find out more about Cork, go to our Why Cork page
Each Participant on the accelerator will participate in a Founders Fund
The Founders fund creates a community of business founders who will be encouraged to work together to support each other, share ideas, explore and exploit synergies and ultimately to share in each others good fortune.
Through this mechanism, everyone has a small vested interest in helping everyone else succeed.
There is no cash investment in this Founder’s Fund likewise no run cost