The NDRC Catalyser program is a 6-month acceleration program that provides up to €100k in investment for early-stage companies. It seeks companies with deep technology, beyond proof-of-concept, that address significant unmet needs. The program provides mentoring, access to networks, and expertise to help companies become investor-ready or revenue-sustaining within 6-9 months. Investment is via a convertible loan that converts to equity at a later round at a 20% discount. The application process involves an online form and pitch invitation, with the final investment pitch evaluating problems, solutions, opportunities, advantages, business models, teams, and milestones.

1. What is
NDRC Catalyser?
An investment programme for very early stage companies with deep
know-how and technology that address a global unmet market need
6 month acceleration programme at NDRC
Up to €100k investment

2. What are we
looking for?
 Deep know-how and technology, beyond proof of concept that address
a significant unmet market need or problem
 Globally scalable product and/or services led propositions
 Propositions with strong a commercial and technical team
 Potential to be investor ready or revenue sustaining within 6-9
months

3. Why NDRC?
 We have guided more companies to investor ready stage than
any other Irish accelerator. Over 180 with approximately 60% in
continued operation employing well in excess of 500 people
 A strong network and track record with follow on investors. Our
investee companies have secured in excess of €110M in follow
on investment
 Recognised as one of the top 5 accelerators in Europe, our
programmes and supports have been refined over the years to
provide exactly what a young company needs to bring a great
technology to market.

4. Why NDRC
Catalyser
 Up to €100k investment
 6 month intensive, deeply experiential commercially focused
programme
 Mentoring and access to our networks
 “Hands on sleeves rolled up approach” from some of the best mentors
in the ecosystem
 Access to multiple areas of expertise
 Location & culture – collocated with over 50 start-up companies
 Peer to Peer learning

5. Investment
Mechanism
 Investment is made through a convertible loan
 The loan converts to equity at later stage investment round at a
discount of 20% to reflect that our investment was made at an earlier
stage i.e. higher risk and typically lower valuation
 Why use a convertible loan note?
 Difficult to create realistic valuations for early stage start-ups
 Provides a means of raising finance without the need to establish a
valuation therefore reducing the time and effort this entails.
 Valuation is effectively postponed until a more realistic basis for
valuation is possible

6. Key Investment
Terms
 Investment is made via a convertible loan agreement
 Investment is in two tranches - an initial €30k investment and a second
investment of €70k conditional on reaching agreed milestones
 Milestones are developed jointly and agreed prior to the programme
 The loan converts to equity at the next round at a 20% discount to the
round price
 Solely for the purposes of converting the loan, a cap of €1.5M and a floor
of €500k is applied

7. Key Dates
March 31 Open Night
April 1- 6 1:1 Sessions available at NDRC
April 6 Application Deadline
April 8 Pitch Invitations Issued
Week of April 11 Investment Pitches
April 11 – 20 Additional Information Requests by NDRC
April 26 First Round Offers subject to milestones
May 13 Agreed Milestones
June 7 Programme starts

8. Application
Process
• Online form via http://www.ndrc.ie/catalyser/
• Just 10 questions
• Once your application is submitted, a Venture Investment Leader will
contact you
• Closing date is April 6 at 5pm
• Don’t wait until the deadline!!

9. The Pitch
• Tell us your story…
• 40 minutes (20 Pitch/20 Q+A)
• One idea per slide
• Be creative
• Content + timings
• Practice, practice, practice

10. The Pitch
• Anchor your Value Proposition
The value to the customer; the unique selling proposition; the
innovation
My company [Company Name]
is developing [defined offering]
to help [target audience]
solve [x problem]
with [y secret sauce]
Unlike the competition, we [differentiation]

11. The Pitch
• Define your problem
The problem of [pain point x]
is experienced by [target customer segment; including customer
archetype]
and we know this because [results of customer discovery]
• Describe your solution
 Focus on BENEFITS to your customers rather than FEATURES

12. The Pitch
• Market Opportunity
• We hope to see scalability in large global markets
• Outline who the customers and users are (they could be different)
• Can you quantify the niche target segment?

13. The Pitch
• Competitors
• Everyone has them… who are yours?
• Opportunity to demonstrate you know the market you’re entering
• Position your differentiated offering

14. The Pitch
• Business Model
• How are you going to make money?
 License fees; one off product purchase; rental; additional services…
• How will you reach customers?
 Direct sales force, digital marketing & sales

15. The Pitch
• Team
• Who is the team?
 Track record & skill sets
 What makes each team member uniquely qualified to make the
proposition successful
• What’s expertise is missing?

16. The Pitch
• Roadmap
• Major milestones for next 12 months
• Customer validation
• MVP launch
• Product launch
• Rollout plan
• Insight into new markets/products/features…

17. Selection Criteria
#1 The Grab
Is the idea compelling? Do they have BHAGs?
#2 The Problem
Did they make it clear that there is a big, important problem that they’re
going to solve?
#3 The Solution
Were they specific about what they’re offering and to whom?
#4 The Opportunity
Did they provide basic market segmentation, size, growth and dynamics?
#5 The Competitive Advantage
Did they detail why they’re different to the competition?
#6 The Model
Did they detail how they are going to generate revenues and from whom?
#7 The Team
Did they detail why their team is uniquely qualified to win?
#8 The Reality Check
Can they achieve a meaningful milestone in 6-9 months? What are the key
risks they face?

18. Further
Information
Contact: ventureleaders@ndrc.ie