70 jobs to be created by companies backed by ‘middle-man’ digital centre

Seventy jobs are to be created over the next six months by companies supported by the National Digital Research Centre.

Acting as a middle-man between digitally focused entrepreneurial start-ups and the commercial market, the NDRC invests in firms in exchange for minority equity stakes. It then nurtures the venture within its incubation centre in Dublin’s digital hub, readying it for commercial life.

Since its establishment three years ago, 70 ventures have emerged from the NDRC — 64% of which have gone on to attract further follow-on investment.

Outside commercial investment in NDRC-affiliated businesses has jumped from €4.8m to €9.6m in the last year, according to the organisation’s annual report launched yesterday. The 70 jobs are set to cover a range of digital areas and will be spread across 15 to 20 companies. To date, more than 250 jobs have been created through NDRC-backed ventures.

CEO Ben Hurley said the figures show the NDRC is punching above its weight in attracting investment and creating employment.

“We’re tapping promising science-inspired opportunities, and creating companies worthy of commercial investment,” said Mr Hurley. “We are recognised as the ‘go to’ partner for stimulating innovation.”

“A central part of the Government’s plan for jobs and growth is creating a powerful engine of indigenous enterprise, and we are particularly targeting high growth sectors such as digital technology for support,” Jobs Minister Richard Bruton said yesterday.

Mr Bruton added that the NDRC jobs announcement “is evidence of what is possible in this sector”.

“I am determined to ensure that we can build on announcements, such as this, to support more companies expanding in this way and to create the jobs we need,” he added.