Dublin City University's Ryan Academy for Entrepreneurship believe that this might not be all bad news for those looking to found tech startups in the country.While the economic news coming out of Ireland has been dour, to say the least,
To that end, the university has established a new, 1 million accelerator fund aimed at supporting entrepreneurs in Europe.
The Propeller Venture Accelerator Fund will support a program of between 10 and 12 for early stage technology startups. The program echoes many of the other accelerator programs that are popping up.
Each participating company will receive 30,000 in funding. They will get workspace in Dublin, as well as legal, accounting, marketing and IP services. The program also focuses on mentorship, and one of the aims of the program, according to the university, is to "link the corporate sector in Ireland to the startup sector." A number of Ireland's leading companies will provide senior executives as mentors.
The program will culminate in a "Demo Day" of sorts, giving the startups a chance to present themselves to potential investors.
Applications close January 10, 2011, and the program starts in early February.