December 7th, 2009
By requesting pledges before we accepted donations, we were quite confident of collecting the €5,000 target we had set. Not only did we reach that target, but thanks to late donations, we surpassed it.
We are delighted to announce that due to the incredible generosity of our donors the Outvesting fund for this round stands at €5,806.75.
We discussed having more than one prize, but we decided the best thing to do is to stick true to our first principals, and target a single startup.
Therefore, we are proud to announce that Kildare Street have won €5,806.75 in this round of Outvesting.
December 7th, 2009
KildareStreet.com, the political accountability website, has been announced the winner of the inaugural €5,000 Outvesting fund.
The second place finisher was Greenhouse Limerick and third was memberGRIP. But congratulations to all the applicants, each of whom is investing time and energy into getting a business off the ground and eventually generating employment and wealth at a time when they were never more needed. You have shown that entrepreneurship in this country is alive and well.
Press release to follow shortly…
December 6th, 2009
History of your startup
The idea for the Greenhouse incubator was sprouted during a Limerick Open Coffee Club meeting in January. The incubator aims to be a “one stop shop” for early stage start-ups. Selected start-ups will be given a experienced mentor, guidance & assistance in developing their product/business. The Greenhouse will also look after all other aspects of starting a business; company registration, Intellectual property, Trademarks, fiscal & legal issues etc. We will make sure that all i’s are dotted and all t’s are crossed.
During the 6 month incubation cycle start-ups will have access to a substantial network of knowledge & experience, professional advisors etc.
Towards the end of the cycle we will also assist them in developing or expanding their core team and will make introduction with investors or other bodies that will be aid to making their venture a success.
All this is provided at no cash cost to the start-up, instead the incubator takes a small equity stake in the start-up (2-8%). This equity stake also ensures our continuing interest in making the venture a success.
Why do you deserve to win?
The Greenhouse is a venture whose success will benefit a whole range of other ventures and not just the founders. So far we have built a network of mentors & professionals, secured a office building and arranged support agreement with a wide range of professionals. The Greenhouse has also organised several Business Camp type events providing support and information to start-ups. All were free of charge.
We also have planned Business Camps in Dublin, Galway, Cork & Belfast followed by a start-up Bootcamp. So far we only have received some sponsorship for the event but have not received any other funding. Everything so far has been accomplished by continuing unpaid volunteer work.
What will you do with the money?
The money will be used to fit out our offices in Limerick so that we can provide actual facilities for start-ups as well as co-working facilities. Some of it might also go toward the costs of running the various Business Camps and Bootcamps.