Green Shield Labs reward business ideas

A Cork-based businessman is looking to make long-term leases and costly legal advice a thing of the past for the county’s budding entrepreneurs.

Stephen O’Sullivan has created a one-stop-shop for start-ups in the location once occupied by Green Shield Stamps on Washington Street.

Taking inspiration from the past, Mr O’Sullivan created Green Shield Labs to give entrepreneurs a more suitable environment to grow their business.

“I had the idea for a long time to try and develop something a bit different than just an office space where people were restricted to long-term leases and costly legal advice.

“I also thought there was tonnes of office space in the city, but [it] offered nothing in the way of end user comfort... I thought Cork needed something like this,” he said.

Companies housed at Green Shield Labs will likely pay monthly rent in the region of €150 — €200 and in return get 250mb fibre broadband, a desk, locker and all their utilities paid. The development, which has room for about 20 desks, is also protected by a gated entry and CCTV and is open 24 hours so people can come and go as they wish.

Additionally, information and communications technology firm PFH Technology Group has made free cloud storage available to the resident companies.

Taking a lead from companies like Google and the ‘hangout areas’ its employees can avail of, Mr O’Sullivan has added a little play to the work he hopes the labs will help support. The recreational space includes a pool table, foosball and sofas.

“We are hoping to create a community of young businesses that will thrive off each other,” Mr O’Sullivan said.