NDRC receives €17.5m further State investment – 50 new jobs on the way this year

50 new jobs will be added by the end of this year

Ireland’s National Digital Research Centre (NDRC) is to receive a new investment of €17.5m from the Department of Communications. The research and start-up accelerator is credited with enabling start-ups to create 250 jobs in the last five years and at least another 50 new jobs will be added by the end of this year.

This latest investment was announced this morning by the Minister for Communications, Energy & Natural Resources Pat Rabbitte TD upon the publication of the NDRC’s annual report.

The report details that the market capital value of ventures emerging from NDRC increased by more than 100pc in 2012. It is projected to reach €91m by the end of this year (2013).

New ventures emerging from NDRC over the last year have met with a huge degree of success with spin outs such as ground breaking music app, Soundwave, receiving large amounts of investment, going live on the iTunes store and being downloaded over 350,000 times in 182 countries.

“The results being announced here today demonstrate that, and I am pleased to announce the Government’s on-going support to the essential work of this organisation for the forseeable future”

Pat Rabbitte TD, Minister for Communications, Energy & Natural Resources