Thursday, 17 May 2012

Soundwave has ‘Lift Off’ with NDRC







Soundwave has ‘Lift Off’ with NDRC

Access to €50,000 investment fund and supports for winning start-up

Further €20,000 investment offer goes to Building Eye

Jumpzter offered €10,000

Research & Innovation Minister Sean Sherlock praises foresight and potential of participating start-ups (full list below)

Dublin, Thursday May 17th 2012: Tech startup Soundwave has been announced as the winner of NDRC’s ‘Lift Off’ competition. The winning start-up has access to an investment fund of €50,000 to accelerate their growth, plus startup supports from our sponsors.

A spin out of NDRC’s LaunchPad accelerator programme, Soundwave competed against 14 other promising startups today by pitching in front of investors, mentors and a judging panel.  The 15 participating companies are amongst 80 digital ventures created by NDRC, with other spinouts from NDRC’s investment programmes having raised over €5m in follow-on investment, with market capitalizations in excess of €10m.

Headed up by Brendan O’Driscoll, Soundwave is a music data analytics service that allows users to discover and track what songs are being listened to, and where, in realtime.  It combines geo-location and ID3 music tagging technology.  Soundwave provides actionable analytics that allows the music industry to understand and react to what their market is doing in realtime and respond with local and targeted marketing campaigns, pr injections, tours and promotions for increased returns on investment.  Musicians can track their global distribution in realtime. Users can discover what songs their favourite locations, friends and celebrities are listening to.

Additionally, Building Eye, a technology that enables users to monitor and research planning applications and other developments in their local area won access to a €20,000 investment.

Jumpzter, a travel application and children’s forum to explore the world and recount their holiday experiences, won access to an investment offer of €10,000.  It was described at the event as a ‘Trip Advisor for Kids’.

An IIA Diploma in Digital Marketing / eCommerce course was awarded to Sneaky Vegetables, an online educational games system whose first product teaches freehand 3D drawing to children using mobile devices.


Attending the NDRC Lift Off event and congratulating Soundwave,  Minister of State, Department of Enterprise, Jobs & Innovation and Department of Education & Skills with responsibility for Research & Innovation, Sean Sherlock, said:

"A key component of this Government’s recovery plan is to create a thriving indigenous technology sector in Ireland.  NDRC and its Lift Off competition strongly incentivise this with the 15 start-ups that competed today having just completed an intensive three month programme.  My congratulations go out to Soundwave and I hope it continues to thrive and grow.”

The investor panel that picked the winner included NDRC CEO, Ben Hurley, Bill Liao of SOS Ventures, Debbie Rennick of ACT Venture Capital and Shay Garvey.

Soundwave will now have access to an investment fund of €50,000 from SOS Ventures plus awards and prizes provided by Grant Thornton, Mason Hayes & Curran and the Irish Internet Association.

Speaking about the competition, Ben Hurley said:

“’Lift Off’ is the culmination of the LaunchPad accelerator programme where the 15 participants have just completed three months of intensive mentoring and advisory programmes. All will have received a boost in their acceleration to become well established startups and turn their ideas into income.

“NDRC has already launched several successful companies who have received investment and I congratulate Soundwave who will now have access to an investment fund worth €50,000. Last year, NDRC Launchpad was identified in the top six best accelerators in Europe following a study by the US Kaufman Fellows Programme, and just last week, NDRC Catalyser spin out ‘SilverCloud Health was named ‘Most Investible Company in Ireland’. We will continue to co-create and work with the best digital startups and technologies, supporting them in becoming equity ready and bringing them to the attention of the investment community.”

For full details about NDRC, visit www.ndrc.ie