Local start-ups with high growth potential will be given the chance to get their companies fit to compete with the best in the world by taking part in a new business accelerator programme launched today by Danske Bank.
The Danske Business Lab is a unique partnership between Danske Bank and Catalyst Inc’s hugely successful Springboard programme, a well-proven mentoring process open to innovative companies with high growth potential.
Danske Business Lab participants will go through a rigorous 16-week process during which every aspect of the business is analysed, including finance, value proposition, sales, marketing, corporate governance, growth and go-to-market risk. Panel sessions, mobilising Northern Irelands most experienced business leaders both challenge and support participants to build robust business strategy before determining if the company will graduate as ‘really’ investor ready.
John Knapton, Director of Springboard commented: “Springboard provides ‘tough love’ through a peer coaching programme uniquely tailored for each company. Access to proven, experienced experts and mentors is priceless but effective. Of the 61 ‘graduates’ of the programme since 2008, 96 per cent are still active, nearly 90 per cent of those seeking capital have successfully raised it and combined, they are supporting well in excess of 700 jobs.
“The Danske Business Lab is a natural fit for Springboard. Danske Bank is well known for providing support to local businesses and by aligning itself even more closely with Springboard the bank will be helping to ensure that more of our high potential indigenous companies get access to the right resources and expert mentors they need to push them on to the next level.”
Austin Coll, Senior Manager, Business Banking at Danske Bank explained:
“Northern Ireland is rich with scalable companies and talented individuals that have the potential to grow into market leaders. The Danske Business Lab will help high growth potential companies to harness their true capabilities and provide them with some of the tools needed to drive towards their business goals.
“Springboard has built an excellent reputation for success and we are excited at the prospect of helping place more entrepreneurs on Northern Ireland’s most credible accelerator programme through Danske Business Lab. Danske Bank continues to prioritise support for SMEs, so partnering with Catalyst Inc and its unrivalled network on this initiative makes perfect sense.”