Bank of Ireland invites seven companies to join New York Innovation lab

 

The incubation space supports Bank of Ireland startup customers as they seek to grow their business and enter the US market and is the first offering of its kind from an Irish bank outside of Ireland.

The high potential startups selected to partake in Bank of Ireland Innovation Lab New York have secured a number of high profile deals and funding rounds in the past 12 months, making them the perfect candidates to join the programme:

• Tandem HR Solutions is a SaaS HR technology incorporating feedback and a coaching tool for performance management;
• Surf Accounts is a cloud accounting software and accounting package for small businesses;
• CitySwifter is a business intelligence platform for urban bus networks;
• Aylien is an Artificial Intelligence powered content analysis solutions;
• Fund Recs develops reconciliation software for the Funds Industry;
• LoyLap offers cashless payment solution to boost your customer experience and revenue;
• mADme is a mobile advertising platform that connects mobile operators and brands to customers.
Last year Bank of Ireland selected innovative Irish tech startups Deposify, Pulsate, Axonista, BriteBiz, Glofox, LogoGrab and KONG Digital to join InnovationLab NYC. The past 12 months has seen significant growth in the US market for these Irish startups with a host of valuable connections made. Combined, the six businesses held 210 new business meetings and secured 54 new business deals with a value of over €10 million.

In addition to working and meeting space in this central New York location, the teams will receive expert mentoring from Bank of Ireland’s dedicated innovation and corporate banking teams in both Ireland and the US to help them develop, grow and scale their business. Bank of Ireland will work closely with the selected teams to help them get on their feet when they arrive, facilitating introductions to venture capitalists, state agencies and relevant intermediaries based in the city.

Carolyn Quinlan, Innovation Lab Manager, Bank of Ireland commented on the announcement, “At Bank of Ireland we are focused on fostering entrepreneurship, and helping our customers to grow their businesses. Last year’s cohort is a testament to the reason why we started this programme, they had an extremely successful 12 months in NYC signing substantial deals, making connections and growing their businesses. The companies joining us for 2018 are fantastic, we have some really interesting and exciting businesses in the mix that we think will excel in the US. With the help of our dedicated innovation and technology teams, we expect great things to happen for these Irish startups over the next 12 months.”

The decision to open Bank of Ireland Innovation Lab New York was taken in response to demand from Bank of Ireland business customers and represents the next step in the bank’s aim to foster entrepreneurship. The incubator, specifically for scaling startups, is an extension of existing successful Bank of Ireland facilities already available in several locations in Dublin, and in Cork, Limerick and Galway, such as Workbench and Bank of Ireland Innovation Lab New York.

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