Business Irish

Tuesday 14 August 2018

Startups' US boost from Bank of Ireland

 

Bank of Ireland has brought a number of new tech firms into its Innovation Lab New York programme which will give them access to free incubation space in New York City. Stock image
Bank of Ireland has brought a number of new tech firms into its Innovation Lab New York programme which will give them access to free incubation space in New York City. Stock image
Samantha McCaughren

Samantha McCaughren

Bank of Ireland has brought a number of new tech firms into its Innovation Lab New York programme which will give them access to free incubation space in New York City.

The incubation space supports startup customers of the bank which are trying to grow their business and expand into the US market.

The high-potential startups selected to partake in the programme have already secured a number of high-profile deals and funding rounds in the past 12 months.

The companies joining the programme are: Tandem HR Solutions, a SaaS HR technology incorporating feedback and a coaching tool for performance management; Surf Accounts, a cloud accounting software and accounting package for small businesses; CitySwifter, a business intelligence platform for urban bus networks; Aylien, an AI-powered content analysis solutions; Fund Recs, which develops reconciliation software for the funds industry; LoyLap, which offers cashless payment solutions to boost your customer experience and revenue; and mADme, a mobile advertising platform that connects mobile operators and brands to customers.

Last year Bank of Ireland selected Irish tech startups Deposify, Pulsate, Axonista, BriteBiz, Glofox, LogoGrab and Kong Digital to join Innovation Lab NYC.

Combined, the businesses held 210 new business meetings and secured 54 new business deals with a value of more than €10m.

In addition to working and meeting space in a central New York location, startups receive mentoring from Bank of Ireland's innovation and corporate banking teams in both Ireland and the US.

They also facilitate introductions to venture capitalists, state agencies and relevant intermediaries based in the city.

"Last year's cohort is a testament to the reason why we started this programme, they had a extremely successful 12 months in NYC signing substantial deals, making connections and growing their businesses," said Carolyn Quinlan, Innovation Lab manager, Bank of Ireland.

Sunday Indo Business

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