The National Pensions Reserve Fund was established in 2001 to meet as much as possible of the costs of Ireland’s social welfare and public service pensions from 2025 until at least 2055. Speaking today, Paul Carty, Chairman of the NPRF said: “This investment, which forms part of our commitment to Innovation Fund Ireland, is a strong commercial opportunity for the NPRF and the establishment of a Dogpatch Labs in Dublin creates an important new catalyst for entrepreneurship in Ireland.” We are excited to be taking that model to Ireland, which has already attracted the likes of Google, Facebook and LinkedIn, and are hopeful that, in partnership with Innovation Fund Ireland, Dogpatch Dublin will emerge as a key hub for entrepreneurs across Europe.” Terry McGuire, Managing Partner Polaris, said: “Dogpatch Labs has been highly successful in establishing hubs of entrepreneurial activity in the U.S. Polaris expects to have similar success in attracting high quality entrepreneurs from across Europe to Dogpatch Labs Dublin. Polaris has had significant success with its existing Dogpatch Labs facilities in San Francisco, Cambridge (Massachusetts) and New York, where there is a fresh intake of entrepreneurs and start-ups every six months. Dogpatch Labs typically house 30 to 50 entrepreneurs working on new technology and life science related businesses at early stages of development. Polaris will also be working with the IDA, Ireland’s inward investment agency, to identify opportunities within its network to bring fast-growing venture-backed companies to Ireland as a point of entry into Europe.Īs part of the announcement, Polaris has confirmed that it has chosen to open the company’s first Dogpatch Labs facility outside of the United States in Dublin in support of Innovation Fund Ireland. The firm will be increasing its focus on Ireland and Europe, providing a local and active source of venture capital from a leading international investment firm. Polaris is a leading US venture capital firm. The investment is being made through Innovation Fund Ireland, a Government initiative to attract leading international venture capital fund managers to Ireland. The National Pensions Reserve Fund (NPRF) today announces a $50 million investment in Polaris Venture Partners. The only agenda is to bring together great people with good ideas and support them to build a community and start companies. The Dublin Start-Up weekend is run on a voluntary, not-for-profit basis by the duo (participants pay for tickets, which cover their food costs for the weekend), to see what great new ideas emerge from the community, and to help in any way to get them off the ground. Billed by Forbes as a ‘ Name You Need to Know in 2011’, two Startup Weekend originating companies have recently raised investment ( raised $2m, and Foodspotting raised $750k)Īmy Neale and Sean Murphy (who are facilitating the event on the ground in Dublin) are passionate about creating a successful event for Dublin. Startup Weekend started in the US, but now has run in over 100 cities across the world with over 15,000 people having taken part. These start-ups emerged from the 60 participants, all of whom pay to take part, and form teams around good ideas. The last Dublin Startup Weekend in May 2010 saw four start-ups formed, all of which are still plugging away (see BragBet GeoDealio CauseHere and HittheRoad). This will be the second Dublin Startup Weekend, and the concept is simple – a roomful of people are brough together (c.50 – 70 developers, coders, marketers, product managers, web evangelists and startup enthusiasts) to go from concept to launch (or at least prototype) in 54 hours.
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