Record year for NDRC as start-ups pull down €40 million

Posted by | July 18, 2014 | Company News | No Comments

Start-ups and emerging companies supported by the National Digital Research Centre (NDRC) attracted €40 million in commercial investment last year, according to the centre’s latest annual report.

The market capital value of these ventures trebled in the year from €39 million in 2012 to €120 million last year, and is projected to reach €180 million by the end of this year.

Launching the report, Minister for Communications, Energy and Natural Resources Alex White said that the transition of research into economic outputs is vital.

“NDRC can make a key contribution to achieving this. The value of the Government’s investment is clearly demonstrated by the fact that the NDRC-backed ventures have created more than 300 full-time and 120 part-time jobs in Ireland’s digital economy.”

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