Startup Accelerator Spotlight: StartPlanetNI

StartPlanetNI is Northern Ireland’s only private equity backed accelerator programme.

Assistant Programme Manager, Linda Robinson

Programme Director, Wayne Murphy

Name of Accelerator: StartPlanetNI

Location: Belfast, Northern Ireland

Website: www.startplanetni.com

Programme Director: Wayne Murphy

Assistant Programme Manager: Linda Robinson

This article is part of our Startup Accelerator Spotlight Series featuring accelerators from around the world. We hope these spotlights will assist the entrepreneur should they consider attending an accelerator program.

In two sentences or less, tell us about your accelerator and its objectives.

StartPlanetNI focuses on a number of core activities to develop the team, the business model and the potential to gain follow-on funding. Centrally we aim to build positivity and energy around our startups. We combine a global outlook with domain expertise to help each of our companies succeed.

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Why is your accelerator program unique? Please describe the benefits of participation in your program.

StartPlanetNI is Northern Ireland’s only private equity backed accelerator programme.

Funding for a startup
This is the oxygen required to grow its potential and StartPlanetNI has a specific focus in assisting the right companies to access that capital. In fact, 50% of teams from our recently completed programme have already received offers of investment.
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Grow Important Networks
Our assembled team has extensive experience in the startup space both from a local and international perspective. Diane Roberts and her team at Xcell Partners have been involved in the Northern Ireland startup scene for many years and have built up a comprehensive network of support and contacts (local and international) to assist high potential startups. Bill Liao (European Venture Partner @ SOSv) is lead mentor on the programme and he brings incredible experience on an international scale to the programme. We know how to extract the very best from the startups and what is required to truly scale and build a global business.
Access to experienced mentors
We have an incredible network of mentors who are successful entrepreneurs in their own right, some of whom have raised millions in investments and some also with significant exits. To tap into all that experience, knowledge and networks is an opportunity to truly accelerate the development of any startup.

Looking for an accelerator with a focus consistent with your startup? Try Find My Accelerator !

What is the most difficult part of working with startups?

Sometimes when startups are so deeply embedded into their business, they lose the ability to look/listen to other aspects that may allow them to work smarter. Frustration can kick in and they can often be stubborn to accepting the advice from those who have been there and done that. This is all part of the startup journey.

What do you enjoy the most; what do you find most appealing about working with entrepreneurial startups?

So many things – the unknown, the energy and drive amongst teams, their desire to succeed, the “lightbulb” moment, sharing the highs and lows and seeing all the fruits of their hard work.

Tell us about your success stories; which are the most interesting companies to have participated in your program?

We have had 8 amazing companies from around the globe join us on our last programme. In terms of generating revenues to date, the most notable include:

Glistrr enables event organizers to identify and engage influencers within their customer base, to increase attendances and revenues. Event organizers face a huge challenge in identifying and engaging potential customers. While a typical event organizer may be processing thousands of guests, it is extremely difficult for them to understand who these guests really are, what sort of events they enjoy and how to engage and remarket to these guests in the most effective way.
Glistrr enables event organizers to collect intelligence on their customers and act on it, as well as uniquely enabling them to identify influencers within their customer base and better engage with them. Glistrr currently has over 150 clients operating in over 170 venues across UK, Ireland and the USA and has processed over one million guests.
Clinishare‘s mission is to achieve enhanced public and individual wellness through research, development and deployment of technologies that advance the application of medical services in an patient-centric model. Their solution provides a unique, market leading service offering geared to the business requirements of a clinical laboratory.
This in turn empowers tactical and strategic competitive advantage for laboratories. This platform connects clinical labs, physicians and patients seamlessly. Clinishare has recently established support in Brazil and the USA and is rapidly taking their business to a global scale.

What are the three most important factors startup entrepreneurs should consider when contemplating attending an accelerator?

Startup time is valuable time as everything is scarce – money, resources, customers and patience. Wasting 3 months on a “startup programme” that is not relevant to you and does not add specific value to your business can be a disaster for a number of reasons. An accelerator programme is the new “MBA” for a startup so you need to do your homework. However, for me there are 3 simple but critical factors that a startup should consider when deciding on which accelerator to apply to.

Does the team behind the programme have a strong track record of developing and promoting startups?
The quality of the mentor panel and their ability to add value to my journey.
The networks that can be accessed and strategic opportunities that can be created by completing a particular accelerator.

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What else would you like to share?

StartPlanetNI Accelerator programme is an incredible 3 month journey of discovery where your business will be transformed like you could never believe. It will enable you to truly focus full-time on developing your startup and take the opportunity to really look at how you take your business to the next level and beyond with the help of some incredibly experienced and talented people.

This incredible opportunity allows startups to showcase their talent and potential, build some incredible contacts and access global networks necessary for your crucial development. But it will be incredibly hard work, involve incredible commitment and dedication allied with a huge desire to win and be successful. If you have what it takes and want more info, reach out to Linda (linda@startplanet.ie).

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Definitioner

Bounce Rate

Website

An organized property made up of a group of connected pages on the World Wide Web, (Internet) that are considered a single entity.⁶

Entrepreneur

A person who organizes and operates a business or businesses, taking on greater than normal financial risks to do so. Entrepreneurs are the founders of startups and are the people angel investors support.⁷

Funding

This term is used synonymously with the words “financing” and “capital.” It refers to the amount of money that is needed for a business endeavor. For example, a new business owner may seek a certain amount of funding for their startup company. This “raised” capital can be used to launch their endeavor as well as to sustain their company until monetary profit can be generated.⁴

Venture

Venture is often used for referring to a risky start-up or enterprise company.⁵

Startup

A startup is a new business venture / enterprise in its initial or early stages of development. These stages include the concept, seed, early, growth and mezzanine stages.⁶

Equity

Ownership in the capital of a Company. In corporations, it is called “stock”; in limited partnerships or LLCs, it is called “interests” or “units.”³
This designation is given to a stockholder’s ownership in a company. The amount of ownership is obtained when an individual or corporation purchases one or more shares of stock (equity shares). The more equity purchased, the greater the ownership.⁴

Director

Person elected by shareholders to serve on the board of directors. The directors appoint the president, vice president and all other operating officers, and decide when dividends should be paid (among other matters).³

Private Equity

A company ownership position that is not listed and cannot be traded on a public securities exchange. Issuance, ownership and exchange of private securities are regulated differently from those of public securities under federal and state law.¹
Equity securities of companies that have not “gone public” (are not listed on a public exchange). Private equities are generally illiquid and thought of as a long-term investment. As they are not listed on an exchange, any investor wishing to sell securities in private companies must find a buyer in the absence of a marketplace. In addition, there are many transfer restrictions on private securities. Investors in private securities generally receive their return through one of three ways: an initial public offering, a sale or merger, or a recapitalization.³
Private equities are equity securities of unlisted companies. Private equities are generally illiquid and thought of as a long-term investment. Private equity investments are not subject to the same high level of government regulation as stock offerings to the general public. Private equity is also far less liquid than publicly traded stock.⁵

Market

Based on supply and demand, this term refers to the societal arrangement whereby consumers purchase goods and services from businesses and individual sellers in exchange for currency. In economic relevance, the “market” can be divided into different industries, such as biotechnology, food, etc. The exchange between the consumer and seller contribute to a society’s market economy which greatly depends on these transactions for economic viability.⁴

Capital

Financial capital is a term that can refer to the money exchanged between entrepreneurs and investors during a business deal. Entrepreneurs need to raise capital for their startups while investors can provide them with the needed capital (or funding). Financial capital usually comes with interest, and new business owners can use their financial capital in purchasing real capital (or machinery or equipment) for their new business.⁴

Accelerator

In an Accelerator, a Seed investment is made in return for equity and usually between $15K - $50K. Startups are admitted in classes and work in groups. They are generally given a deadline to complete intensive training and iteration (typically 1 week to 6 months). Startups end an accelerator program with a Demo Day in which they pitch to investors.²

INFOGRAPHICS