€50,000 investment on offer in Ireland’s first International Security Accelerator scheme

A core group of experienced international mentors, including Ronan Murphy, CEO of Smarttech, and Robert McArdle, Director of Trend Micro’s Forward Looking Threat Research team, will offer targeted advice to the Accelerator participants. The startups will also have access to CorkBIC’s extended network of over 400 mentors worldwide.

Worldwide spending on security-related hardware, software, and services is forecast to reach $119.9 billion in 2021*. As a neutral, stable country, Ireland is a highly sought-after location, with the top five worldwide security software companies based here.

Commenting on the Accelerator programme, Ger Goold, COO & Partner at Kernel Capital, said: “Cork is developing a reputation for Ireland’s growing Security Cluster. This Accelerator is a unique opportunity for startups to tap into the experience and resources of the strong network of Cork’s multinationals, such as Trend Micro, helping these startups grow, succeed, and in turn contribute to the Cluster.”

Robert McArdle, Director of Trend Micro’s Forward Looking Threat Research team, added: “Participating startups can work from the purpose-built Accelerator space in Cork city centre for a specially-extended period of up to nine months.

"This kind of dedicated workspace is vital to ensure these startups can focus on expanding their business. I would strongly encourage suitable candidates to apply for the Accelerator, which will help their company reach the next stage.”

This world-class accelerator programme, which begins in January 2018, is aimed at early stage, disruptive companies in the wider security industry, including Cybersecurity, Internet of Things (IoT), Smart Cities, Health & Bioinformatics, Defence, Critical Infrastructure, Financial Services, Logistics and Transport.

The successful participants will also have access to CorkBIC’s extensive international network of investors such as International Business Angels and Angel Syndicates through Investor Demo Days.

Welcoming the Accelerator, Ann Doherty, Chief Executive of Cork City Council, said the launch of the International Security Accelerator will further cement the city’s reputation as an emerging cybersecurity hub.

“Cork City Council is delighted that the CorkBIC Accelerator programme is our first client at our new co-working space at Cork City Hall. The development of the co-working space, where the start-ups will be based, is a key part of Cork City Council’s innovation and entrepreneurship strategy. And, today’s launch is a great example of partners working together to further develop the strong startup support ecosystem that has developed across the city in recent years”.

Partners for the International Security Accelerator are Kernel Capital and Bank of Ireland, Trend Micro, CorkBIC and Cork City Council.

*  CorkBIC is a private-sector led organisation, specifically set up to identify and build knowledge intensive companies based on promising technology and capable innovative people. It plays a hands-on role helping entrepreneurs navigate the minefield of raising finance, sorting out business propositions, arranging agreements with shareholders and investors, and, perhaps most important of all, finding customers. Over the past 25+ years CorkBIC has worked with nearly 500 startups and is part of a network of 200+ BICs throughout Europe, called The European Business & Innovation Centre Network (EBN). CorkBIC is also a very active member of EBAN - The European Trade Association for Business Angels, Seed Funds and Early Stage Market Players.