The Irish National Digital Research Centre (NDRC) has launched Ireland's first financial technology start-up programme, aimed at improving access to the expertise necessary to succeed within the fintech industry.
Pat Rabbitte, the minister for communications, announced the launch of NDRC FinTech, revealing that the programme will recruit ten early stage financial services firms to work with over a five-week period.
The application process for a position as one of the ten financial services start-ups closes on 2 May.
The scheme has been backed by the Bank of Ireland, Enterprise Ireland, Mediolanum and State Street, as well as a number of blue-chip companies, which are each in a position to provide some of the industry's most innovative mentors.
Speaking about the news, NDRC CEO, Ben Hurley, said: “Over the last 30 years Ireland’s international financial services sector has grown into one of the world’s finest and, alongside Ireland’s vibrant start-up ecosystem, is well positioned to be a leading centre for innovation.
“NDRC FinTech will harness the best ideas from those interested in the financial services industry, partner these people with experts and set about creating dynamic, sector-changing tech companies.”
The ten selected start-ups will gain access to launch processes and be able to make use of vital resources, as well as being given the time and opportunity to develop their ideas, products and services.
Speaking about the programme, the NDRC said that the start-ups involved in the scheme will be able to focus their ideas on any area of financial services where the creation of a new technology products could solve an existing problem.
The programme is also looking for individuals who have specialist skills in tech, sales, marketing, design, and operations, who are interested in joining a start-up team.
NDRC's decision to launch a programme aimed at new companies in the fintech industry is the latest in a recent spate of similar ventures, such as London-based Startupbootcamp, which will provide funding, office space in the centre of London and mentorships for start-ups.
Over a three-month period, the selected startups will collaborate with 100+ mentors, partners, and investors to build their fintech products, with the ultimate goal of becoming industry leading companies.
By Tony Aynsley