A new Austin-Dublin pipeline for start-ups moved a step closer with the signing of a memorandum of understanding at the recent South by Southwest (SXSW) music and tech festival in Texas.
Two private entrepreneurship facilities – Gravity of Dublin, and Capital Factory of Austin – have joined forces to open up growth opportunities for advanced start-ups and SMEs.
Gravity will serve as an entry point facility for US start-ups expanding into Ireland and the EU via Dublin while Capital Factory will provide services and experienced mentorship for Irish software-as-a-service (Saas) based companies ready to come into the US via Austin, Texas.
The agreement enables start-up executives of companies to hotdesk at the offices in Dublin or Austin. Qualifying companies will also get preferential reviews to become part of the accelerator and market access programmes.
Hot desk
The deal charges Gravity and Capital Factory to promote each other’s cities as great places to do business, and to help build strong connectivity across the broad tech and creative sectors of each community.
“This solidifies the important strategic relationship that has already evolved between the Gravity and Capital Factory teams,” said Gravity’s Cian O’Cuilleanain. “Exchange visits are already hosted in Dublin and Austin, and more are planned during 2015. Gravity and our international partners are developing tech trade routes, linking Gravity in Dublin with innovation hubs globally. Our network of programmes, connections and services are attracting the most talented teams, the best properties, and the highest-potential entrepreneurs.”
