herald

Friday 20 October 2017

City tech Summit raised over €200m for start-ups

A TECH festival for start up firms hosted hundreds of new companies in Dublin last year and within a year some of them went on to raise more than €200m.

This year The Summit event, formerly known as The Web Summit, has decided to host up to a thousand start-up companies,
but competition to get in is fierce, says founder Paddy Cosgrave.

"Each year thousands of companies apply to exhibit at The Summit, not everyone gets picked, and those that do work hard to make use of the fact that they're in close proximity to many of the best investors in the world," said Mr Cosgrave.

Of last year's 24 businesses all managed to get millions of euro of investment each.

capital

Freshdesk, which is an online help-desk, raised €28m, the most capital in the last year.

Mr Cosgrave said the event is good for business.

"As Europe's largest tech festival, The Summit is the perfect opportunity for start-ups to meet investors, customers, prospective employees and media right here in Ireland," said its co-founder.

350 speakers - including tech millionaire John Collison from Limerick - are linedup to talk at this November's event.

jfegan@herald.ie

Promoted articles

Entertainment News