endeavour news 2011 q1

8/6/2019 Endeavour News 2011 Q1

1/8

Start-up valuations hit 10mFounders closing investment deals as Endeavour 2 is launched

Irelands leading ast-track programme

or start-ups, Endeavour, is set to

return bigger than ever in early 2011,

with an innovative new structure

that will help start-ups to rapidlygrow into ully-fedged international

businesses. The programme, which is

entering its second year, has already

developed a strong reputation thanks

to the impressive achievements o the

companies involved in Endeavour 1.

The current combined unding valuation o

the companies that took part in last years

programme is already well in excess o

10m based on investments closed or

imminent. Over the course o the past year

companies rom the programme were also

recognised by the wider technology industry.

Awards recently received include theDublin Web Summit Spark o Genius

Award, the Irish Sotware Association

Technology Start-up o the Year, MunsterSeedcorn Winner and the SCUUL

Entrepreneur o the Year.

Endeavour organisers say that one actor

that dierentiates it rom other programmes

is its international ocus, with mentors rom

around the world participating to give

start-ups every opportunity possible o

rapid global growth. This kind o one-to-

one mentoring by globally experiencedentrepreneurs is unique and keeps

our ounders grounded and ocussed

explained Endeavour co-ounder and

Manager o Kerry Technology Park, Marie

Lynch.

This year the programme will also be

expanded and split into two phases,

however it will remain intense and will

demand a strong work ethic rom those

involved. The Endeavour Fund has also

been established making the programme

the frst o its kind to have a dedicated seedund attached.

The frst phase o the Endeavour 2011

programme will acilitate up to eighty

participants and will be held in both Kerry

and Dublin.

This stage will end with those involvedpitching their businesses or one o just

By Adam Maguire

in this issue:

Kerry Group Backs Endeavour

EndeavourNews

Go global early: CEO StanMcCarthy Page 7

Entrepreneurs Start From Zero

Mobile technology leaderMike Fitzgerald Page 6

Endeavour Mentor Team

Helping turn concepts intoreality Pages 4&5

Plug and Play Tech Centre

FoundersSupportingPartner

Endeavours home from homein Silicon Valley Page 7

Q1 2011 / Issue 1 www.endeavour.biz

EndeavourDiaryOpen for

Applications14th December

Closing Date forApplications

18th January

Dublin Workshops1st Feb 12th March

Kerry Workshops3rd Feb 12th March

Web: www.endeavour.biz

Twitter: @Endeavourbiz

YouTube: Endeavour2011

ten places in Phase Two. Participants must

show commitment and drive in order to get

here, as this phase is designed to see i the

ideas they have can become products thatstand the stresses and scrutiny o the real

world.

Phase Two will start in May and run or 24

weeks in County Kerry. Its all about toughlove. Making the cut in fercely competitive

global markets isnt easy and we expect the

Endeavour ounders to react quickly to the

lessons shared by our mentors and ocus

on creating businesses that are unique and

compelling rom a customer perspective

explained Endeavour co-ounder Jerry

Kennelly.

Phase Two will eventually culminate

in an Investor Week which will bring

participants to Dublin, London and Silicon

Valley in order to promote their companies

to experienced international investors.

Connor Murphy, CEO, DataHug, Colm

Raerty, Maples and Calder, and Ray

Smith, Co-Founder, DataHug, winners

o Spark o Genius Award at the

Dublin Web Summit.

The Kerry Group mark version 3

This kind ofone-to-one

mentoring byexperienced

entrepreneurs isunique


2/8

Stay grounded warns

NYC software guru Lang

Cork born Entrepreneur Connor

Murphy, a ormer US based Accenture

employee, came to Kerry in 2009 to

take part in the Endeavour Programme

and has had a whirlwind time since last

December. Hes now negotiating with

investors and has a string o awards or

his company Datahug. Here he gives us

a favour o his year.

The big break or DataHug in 2010 was

being lucky enough to get on Endeavour.

The mentors orced us to stress test our

business model and explore alternatives

and potential opportunities. The schedules

were aggressive. By the end o two months,

we had completed the workshops and werepitching our proposals at the frst o many

business stress test panels.

With a technology background, I was

ortunate that I could build our initial

prototypes. However, the combined pressure

o development, market research and

business development soon began to take its

toll. I realised I needed a strong co-ounder in

order to have any chance o success. Luckily,

on the verge o burning out, I reconnectedwith Ray Smith and within days he was on-

board as my co-ounder and CTO. Rays drive

and engineering skills had an immediate

impact. We let Endeavour investor-ready

with a business plan - which subsequently

won 20k at the Seedcorn competition -

and an innovative product that had already

attracted several clients.

One o 2010s highlights was when we won

both the Dublin Web Summits Spark o

Genius competition and the Irish Sotware

Associations Technology Start-up o

the Year award in the same week. Thesubsequent media coverage in publications

including The Guardian, Sunday Business

Post, Irish Times, TechCrunch and Silicon

Republic really helped attract the attention

o clients, sta and investors. 2011 is now all

about growth and expansion o our product

and team.

Technology is changing rapidly and start-ups need

to be able to keep up in order to survive according to

Morgan Lang, CEO o 9MMEDIA and a mentor on

this years Endeavour programme.

The business landscape has been changing rapidly

since the advent o the internet and continues

to change in drastic measures every year, he

said. I think it goes without saying that a start-up

company should always have a solid technology

representation on both the web and mobile, namely

iPhone, iPad and Android OS.

9MMEDIA is a Manhattan-based sotware

development rm that specialises in building customweb and mobile applications. Lang believes the

complex interplay o talent and circumstances arent

always clear to dene, but he believes very much in

the US entrepreneurial culture o win or ail ast.

There isnt one particular thing that will make you

successul but it is rather a successul combination

o things, he said. This includes making a great

product, making people aware o it, having a web

and mobile presence and making sure your revenue

model is sound and that your consumers will accept

it.

Most o all its about being grounded to reality,

realising it will not be an overnight success but will

take a massive amount o eort, he said.

When asked what one thing he would like to see

start-ups learn rom a mentoring programme he saidhe hoped they would eel the success and pains o

learning to be an entrepreneur, even i their idea or

company ails.

Stockbyte Founder Jerry Kennelly was back

at work on a new venture less than a year

ater selling his companies to Getty Images

in a landmark $135 million sale in April

2006. We asked him what it was like getting

back on the merry-go-round with his new

venture, Tweak.com.

It was a strange eeling getting on the early

morning ight rom Dublin to Kerry on April

6th 2006. I had spent the night in the ofces

o William Fry solicitors, pounding out the

paperwork and the fnal details o this lie-

changing transaction with a small army o

lawyers and executives o Getty Images on

conerence calls rom various parts o the

world. Apart rom a handul o people onboth sides, this transaction was top secret, a

vital requirement or Getty Images who were

then NASDAQ listed.

As we all ought back the tears - with little

success - I explained to my colleagues that

an era in the stock photography industry

was over, in my eyes. We, the disrupters,

were about to be run over by a new business

model called microstock. I predicted that

this juggernaut o low-cost images would

demolish us and the valuation o most

companies in this global industry o which

we had captured about 10% market share.

There wasnt a dry eye in our ofces at

Kerry Technology Park as I told my loyal

workmates that we needed to get out with

some upside - while we still could.

There was, o course, a not inconsiderableupside - or all o us. And in less than 18

months, valuations in the industry ell by

70%. I I had hesitated, we would have been

toast.

They are the kind o decisions that

are required in todays world. As an

entrepreneur, you need to have all o your

senses on ull alert or the slightest change

in the atmosphere, which can very quickly

turn into a tsunami.

When we had started it all in 1996 we were,

to say the least, pretty much unaware o

what we were to ace. We were pioneers in

a new global industry and would have been

satisfed with moderate success. But a very

dynamic and hyper-competitive instinct

brought out the fghting spirit in us. While

we might have been satisfed with the joy

o seeing our images used globally, it soon

became clear that we needed to be at thetop o our game in every aspect o what we

did to have any kind o sustainable uture

in this world. From IT to marketing, to sales

and supply chain - every one was equally

important in the eyes o our customer - and

ailing in any one could be atal.

When I fnally sat down in 2007 to start

work on building my vision with a ew

ormer Stockbyte colleagues, we realised

what a daunting task we had taken on. We

wanted to change the world with Tweak.

com by empowering small business owners

to take ull control o their advertising and

marketing materials, using just a web

browser. And make it ast, un and do it all

or a raction o what it cost previously.

We looked at every problem aced by

business owners as they attempted tocompete against big business in the

battle or customers attention with print

advertising and marketing materials.

Was it easier than frst time round?

Ignorance was bliss when we started

Stockbyte. Things moved at a slower pace,

the world was much less connected and,

rankly, there was time to fx mistakes.

Today, we know that a series o bad

judgement calls or mistakes can mean

death o an enterprise, no matter how hot

the prospects seem.

What we had achieved with Stockbyte was

success based on hard work and learning

very ast. Now theres a lot more to learn, a

lot more at stake - and weve got a much

more complex business with much greater

scope or global success - or spectacular

ailure, i we ail to execute correctly or astenough.

But, the old principles still apply. Its about

understanding what clients need and

executing on that vision really well. But

it does require extremely hard work and

lots o travel. Potential clients around the

world need to be convinced o your story

no matter who you are or what youve

achieved in the past.

With a dedicated team that numbers more

than sixty o the most talented people on

the planet in Killorglin, Dublin, New York

and a ew other locations, Tweak will fnally

launch in January.

Gladly, we are devoid o ego, and will

endeavour to fx whatever mistakes we

make quickly to attract and retain thosecustomers or whom we have toiled so

diligently. And in doing so, deliver on our

dream o changing the world once more...

StockbyteFounder getsback on thehorse with

new start-upJerry Kennelly,Tweak.com

2

Morgan Lang, Co-Founder and CEO at 9MMEDIA

Endeavour News Q1.2011

www.endeavour.biz

Tech peers showDatahug the love

Negotiating with investors - Datahug

CEO Connor Murphy


3/8

www.endeavour.biz

Major Endeavour changesinclude global investor showcase

specic overseas markets as they develop

their business plans.

The foating mentors provide an extra layer

o knowledge to compliment the dedicated

mentors who provide participants with a one-

to-one relationship.

A new online monitoring system will help

track, manage and rate a participants

progress over the course o the programme.

This perormance management system will

help both participants and the Endeavourteam to track progress against goals.

Participants or Phase Two will be selected bytheir ability, commitment and involvement in

Phase I. Endeavours reputation or support

and tough love will ensure that oundersbecome ully aware o what they are taking

on i they are considering launching their

own global business.

3Endeavour News Q1.2011

Innovation is at the heart o what

Endeavour is all about so it is appropriate

that Endeavour itsel continues toevolve and react to experience in its

frst programme. The 2011 Endeavour

programme will eature radical changes

to improve the experience o participants.

Signicantly one addition to the programme

will see Endeavour become the rst

programme o its kind to have its own

dedicated seed und simply called The

Endeavour Fund. This will allow supporters

o Endeavour to give greater support to

participants o the programme and get

involved to a greater degree than waspreviously possible.

Endeavour will invest in every single companywhich makes it to the second phase o the

programme, orging a real and

long-term link with the new

entrepreneurs.

Other major changes in the

Endeavour programmes

design will see the introduction

o a two-phase structure aimed

at providing an improved

system o selection o the

shortlist o ounders. This new and innovative

set up will help give participants more support

and a greater number o opportunities over

the course o the programme itsel, whether

they are suitable to complete both phases or

not.

Another signicant change will see the

introduction o foating international mentor

teams which will cover both the East andWest coasts o the USA, as well as Asia.

This will bolster the international outlook o

the Endeavour programme and will help

give companies involved the on-the-ground

advice needed to help them better target

Endeavour participants 2010:David Harvey, Emissions ControlSolutions Ltd., Paul Cooling,Ubecha.com, John McGuire,

Active Mind Technology, ConnorMurphy, DataHug, Declan OSullivan, TotelFootball, DonnchaHaverty, HKPB Scientifc,Michael Sheehy, Gael Force Wind

Energy Ltd., Grainne Barron,The Yunus Movie Project Ltd.,John Dineen, learnpipe, PhilipMcNamara, TapMap, Diarmuid

Brennan, IKITSystems Ltd.,Keith Loughnane, FitNexus,Warren Healy, Locallotto.ie, DavidMcAvinue, Tender3D.com.Missing Stephen Grin, Reversadoor

Important thattomorrows leaders

share in learningsthrough Endeavour

- Kerry Group CEOIreland needs scalable, intelligent

businesses to build a strong

oundation or the uture according

to the leader o one o Irelands

greatest success stories. Despite the

recession, Kerry Group has continued

to make enormous gains across its

global ootprint in the ood ingredients

marketplace. CEO Stan McCarthy

believes that said start-ups needed to

think globally rom day one and be

always ready to innovate.

Todays ounders need to be ready or

the opportunities and threats posed by a

globalised world, said McCarthy. Their

understanding o customers current and

uture needs and the ability to execute withagility and fair are paramount.

Irelands entrepreneurs have punched

above their weight in the global economy.

Its important that tomorrows leaders share

in the learnings through Endeavour.

McCarthy said the Kerry Group took an

international approach since its oundation

in 1972 which continued today and the

company had consistently sought outnew talent to maintain a orward-thinking

attitude.

From day one Kerry Group was an export-

ocused business and had to be, in year

one o its development it had sales o 1m

and its output was exported, he said.

He supports Endeavour as it helps others

do the same with their companies:

There is a very strong entrepreneurialspirit in Ireland it just needs to be unlocked

and nurtured, he said. Endeavour is abenchmark or entrepreneur programmes

and we can see this years programme

building and growing into the uture.

Running your own enterprise is a physically

and mentally demanding task and as well as

providing the technical and proessional help,

Endeavour shares the real lie experienceso Entrepreneurs explains Endeavour co

ounder, Dr. Jerry Cliord o the Institute o

Technology, Tralee.

The introduction o an Investor Week is a

vital element in the new programme and areally valuable opportunity or participants.

Following the intensive second phase

programme, companies will be given the

opportunity to present in Dublin, London

and Silicon Valley where they will get a

chance to pitch their ideas to experienced

and infuential investors.

This is where the entrepreneurs get their

chance to prove that they are world class

in every aspect o their new business and

that not only is their business plan execution

ready, but that it also represents a great andscalable opportunity or investors who are

seeking a return on their capital. This is

show time, explained Dr. Cliord. Investors

will measure Endeavour companies against

high perormers rom all over the world.

There are no excuses. Angel and VentureCapital investors will decide who deserves

to have the investment to empower their

dreams he added.

Do you have what it takes to become one

of the next generation of Irelands global

entrepreneurs? Endeavour has a track record

of helping founders become successful

entrepreneurs. With some of Irelands leading

lights in business as one-to-one mentors, its

hardly surprising.

Youll learn a lot about what it REALLY takes

to become a success story. If you make the cut

you may even become one.

Kerry

Group

CEO Stan

McCarthy

SUCCESS?Its within your grasp

Apply today at www.endeavour.biz

Places are limited

Endeavour is a not-for-prot venture

Dublin, London and Silicon Valley investors

to vie for participant company equity


4/8

4Endeavour News Q1.2011

www.endeavour.biz

Michael Carey

Executive ChairmanJacob FruitfeldFood Group

Michael is executive

chairman and majority

shareholder o the

100m Jacob Fruitfeld

Food Group. Michael

has previously held the

Managing Directors

roles at Kelloggs (UK/

Ireland), Foxs Biscuitsand Evian/Volvic

(UK/Ireland) and was

Marketing Director at

Cantrell & Cochrane and

Jacobs in Ireland.

www.jacobruitfeld.com

Pat O Flynn

CEOSolvotrinTherapeutics

Pat has a proven

track record in the

Pharmachem and related

industries. He was a

fnalist in the 2008 Ernst

and Young Entrepreneur

o the Year program

due to his success with

AVR-Saeway Ltd. Hesubsequently sold it

to International Utility

Company Veolia and

is now the CEO o

Solvotrin Therapeutics

Ltd, a privately held

pharmaceutical company

Jenni Timony

CEOFrankleyweb

Jenni Timony is one

o Irelands serial

entrepreneurs. In 2010

Jenni launched

www.exponentially.ie,

an online b2b bartering

resource or service

businesses in Ireland.

Soon to launch is www.rankley.com, a new

retail concept or the

US market. Jenni was

a fnalist in the Ernst &

Young Entrepreneur O

The Year Awards.

Established in 1989,

Anne has grown CPL

to become Irelands

leading provider

o recruitment and

outsourcing services

across a range o

disciplines and

sectors. CPL havecirca 3,800 temporary

sta, 500 contractors

working on client

sites and a network

o 24 ofces in seven

countries.

www.cpl.ie

Anne Heraty

Chief Executiveand FounderCPL Resources plc

David Walsh

Co-FounderNetwatch

David Walsh and Niall

Kelly ormed Netwatch

in 2003, as the frst

Irish company to use

modern communication

technologies to provide

remote visual monitoring

systems to businesses.

With an annual turnover o

9m in 2009, their unique

technology isused by over 1,400

clients located in Ireland,

UK, Spain, US and

South Arica.

Conor Foley

CEOWorldSpreadsGroup PLC

Prior to establishing

WorldSpreads Conor

had 11 years o

experience in the

fnancial services

sector. Conor has a

Masters Degree (M.A.) in

Economics rom UCD.

He has been three times

short listed by Ernst &

Young or EntrepreneurO The Year in Ireland.

Frank Salmon

Group MDCMS Peripherals Ltd

Established in 1988,

with premises in

London and Mayo, CMS

Peripherals is the largest

independent distributor

o data storage solutions

in the UK and Ireland.

At the age o 24 Frank

joined the start-up as

General Manager and

has helped the companyto grow rom 1m

revenue in 1991 to close

to 157m in 2008.

www.cmsperipherals.com

Jim ounded

PulseLearning in 1999

and is the driving orce

behind the companys

rapid progression as

a globally dominant

e-learning organisation. In

2007, Jim was short listed

or the Ernst & Young

Entrepreneur o The Year

Awards Programme andreceived 1st place in the

Deloitte Fast 50 Awards.

www.pulselearning.com

Jim Breen

CEOPulseLearning

The Endeavour Mentors - Experienced Founders

There are two phases to Endeavour. In the

rst phase, you will hear globally successulentrepreneurs tell their stories. You will

interact with them while they determine iyou have what it takes to move on to Phase

Two o the programme. You need to prove to

our team o experienced mentors that youhave the ounder qualities to become one

o the next generation o Irish-based globalstart-ups.

Phase One will run in two locations - Dublinand Tralee - during February and March.

This structured programme o one eveningper week will incorporate contributions

rom entrepreneurs and proessional

advisors. The nal session will combine theDublin and Kerry participants or a ull day

in Dublin. Participants will prepare weeklyassignments to prepare them or a Demo

Day pitch to an Entrepreneur Panel. Demo

Day is the gateway to Phase Two. Transitionto Phase Two will also require an 85%

attendance on Phase One and completiono all assignments.

Phase Two is an intensive programme o

regular workshops, mentoring sessions,progress meetings, stress panels and

proessional training based on individual

company needs. Participants, who mustincorporate beore entering Phase Two, will

have exclusive access to t he newly createdEndeavour Fund.

Phase Two will be run at the Tom Crean

Business Centre in the Kerry TechnologyPark rom May to October. Free ocespace, meeting acilities and broadband are

provided or one year.

Participants can access the specialised

resources, graduates and student internsat the Institute o Technology, Tralee at its

shared campus with Kerry TechnologyPark. Access to Enterprise Ireland unding,

including CORD, is available or qualiying

companies.

Phase Two will culminate with an InvestorWeek in Dublin, London and Silicon Valley

where participants will have the opportunityto pitch in ront o experienced internationalinvestors.

May - OctoberMentor sessions

WorkshopsStress panelsProfessional training

Investor WeekIreland / London /Silicon Valley

Endeavour 2011 - A platform for

Founder qualities1st February Dublin3rd February KerryMarket research;Product positioning8th February Dublin10th February Kerry

Team creation15th February Dublin17th February Kerry

Business model22nd February Dublin24th February Kerry

Building a business1st March Dublin3rd March Kerry

Marketing & Sales8th March Dublin10th March Kerry

Valuation/Funding/IP/ Pitching12th March Dublin

Demo Day

Phase TwoProgramme

Ray NolanWorky

Brian LongAtlantic Bridge

Stan McCarthyKerry Group plcEamonn FallonDaft.ieColm LyonRealex Payments

Jerry KennellyTweak

Liam CaseyPCHInternational

Ann HeratyCPL Resources

Frank WalshEnterpriseEquityFrank ONeillErnst & Young

JT OSullivanBioAtlantisPaul OLeary

Predictive Index

Vincent LynchDonseed

Mike FitzgeraldAltobridge

Conor FoleyWorldSpreadsGroupAndrew McIntyreWilliam Fry

Krishna DeBizgrowthnews

Ronan SkehillCauwill

Sean MitchellMovidius

Ger HartnettGoshido

Eamon RyanPBS

Connor MurphyDataHug

John McGuireActive MindTechnology

Donncha Haverty

HKPB

Phase One

Speakers

Endeavour is recognised as Irelands leading developmentprogramme for technology entrepreneurs. We focus on earlydelivery of a demo product, a route to market and a funding plan.Endeavour is an intensive global launch pad for technology, web-

based and software founders targeted at mobile teams of at leasttwo people, including one with proven technical experience.We are looking for ambitious, innovative, high achievers with astrong work ethic and a track record of execution.

Phase OneProgramme

Phase One

Phase Two


5/8

5

www.endeavour.biz


David Bobbett

CEOH&K International

David is the majority

shareholder in H&K

International. H&K is a

leading global supplier

o kitchen equipment

solutions to the Food

Service Industry, selling to

20,000 restaurants in 70

countries worldwide. H&Ksales worldwide have

increased rom $154m in

2003 to $380m in 2008.

David was a fnalist in

the 2008 Ernst & Young

Entrepreneur O The Year

Awards. www.hki.com

MikeFitzgerald

CEOAltobridge

Mike Fitzgerald is co-

ounder and CEO o

Altobridge. Headquartered

at Kerry Technology Park,

Altobridge is a leading

provider o GSM solutions

or remote, unconnected

communities, its solution

has been deployed bymobile network operators

worldwide. Mike Fitzgerald

was named the Ernst

& Young Emerging


in 2009.

Terry Clune

CEOTaxback Group

Terry is the ounder,

owner and CEO o

the Taxback Group.

A graduate o Trinity

College Dublin, Terry

ormulated the taxback.

com business concept

as a student and has

been the innovator anddriver o the Group to its

present global market

leader position. In 2009

Terry was named Ernst

& Young Entrepreneur o

the Year.

Dave Ronayne

CEOIrish MainportHoldings

The Mainport Group is an

integrated marine services

company providing

global shipping services

to oshore oil & gas

exploration companies

and international seismic

operators. Mainport has

ofces in Ireland, Scotland,

South Arica, Norway, and

the Caspian Sea area.Dave was a fnalist in

the 2007 Ernst & Young


Awards Programme.

Ray Nolan

CEOWorky

Ray Nolan ounded

Hostelworld.com in 1999

Ray grew the company

to become the leading

worldwide brand with

distribution contracts in

170 countries and sold

it in November 2009

or more than $500M.

Ray continues to enjoy

success with newcompanies, launching

www.worky.com, and

Cloudsplit in 2009.

Brian Long

PartnerAtlantic Bridge

Brian ounded Parthus

Technologies plc (now

CEVA Inc.) in 1993

and in 2002 led the

successul $150m

Initial Public Oering.

In 2006 Brian co-

ounded with Elaine

Coughlan GloNav Inc.,a GPS semiconductor

company, which he sold

to NXP In January 2008

or $110M. In 2000

Brian was awarded

Irish Technology

Entrepreneur o the year.

who will share the hard lessons of success

Entrepreneurial SuccessInternational Mentors

Apply online atwww.endeavour.biz

Closing Date for

Applications 18th January

YouTube: Endeavour2011Twitter: @Endeavourbiz

Morgan Lang is a co-ounder and CEO o 9MMEDIA, a nine-year-old, New York City based sotware

development rm that specialises in building custom web and mobile applications. Morgan handles

all aspects o business development as well as the overall vision or each project. He has a keen eye

or developing new and eective business models and creative sotware solutions or his clients aswell as having a deep understanding o consumer behavior and psychology. Morgan graduated rom

Cornell University with a degree in Applied and Engineering Physics and an emphasis on non-linear

and quantum optics (lasers).

Morgan Lang9MMEDIA

Liam Casey CEO

PCH International

Liam Casey is the ounder and CEO

o PCH International, a supply chain

management company ocused

on the consumer electronics,

personal computer, medical device,

telecommunication industries, and

clean technologies.

Over 1000 employees work in PCH

oces in Ireland, China, USA, with

a sotware development team inSouth Arica. PCH is unded by

three top Silicon Valley venture

capital rms: Focus Ventures,

Lightspeed Venture Partners, and

Norwest Ventures.

Revenue or 2009 is US $153

million, and revenue or 2010 will

exceed US $380 million. Liamwas awarded Ernst & Youngs

Entrepreneur o the Year Ireland

accolade in 2007.

The international mentor team brings geographical experiencefrom East and West Coast USA as well as Asia. This willsignicantly enhance the international aspect of the programmeand will help companies with on-the-ground advice andintelligence in order to help them better target overseas marketsas they develop their plans.

MichaelDawsonCEOThe Gift Voucher Shop

Since developing the

concept o The Git

Voucher Shop in 2001,

Michael has been

establishing successul

partnerships and

businesses with An Post,

Post Oce Ltd in the UK

and Malta Post. He went

on to acquire worldwide

patents or a numbero lottery products that

he invented and spent

six years successully

marketing to State Lotteries

in the USA and Canada.

Patrick Collison rst came to public

attention at the age o sixteen, when

he won the Young Scientist and

Technology Exhibition. Collison

set up sotware company Shuppa

in Limerick with his brother John.They moved the company to

Caliornia ater Silicon Valleys

Y Combinator showed interest,

where they merged with two

Oxord graduates and renamed

the company Auctomatic. In 2008,

Collison aged nineteen, and his

brother John, aged seventeen, sold

Auctomatic to Canadian company

Live Current Media, becoming

overnight millionaires. Both Collison

brothers are highly respected inSilicon Valley and are working in

stealth mode on a new venture dueto be announced in 2011.

Patrick Collison

Entrepreneur

for applications18th January

DEaDlinE

New mentors to be announced.Updates on www.endeavour.biz


6/8

6

Road to mobile

success a toughone - FitzgeraldA decision by a clever Kerryman to

pack in his job with mobile phone

giant Ericcson has resulted in

millions o people living in remote

areas around the world being able to

use mobile phones. Altobridge co-ounder and CEO Mike Fitzgerald and

his colleagues have, among other

achievements, created technologies

which have radically changed the

live o people in some o the poorest

parts o the planet.

Over the past two decades he has beenpart o the senior management team

at a massive multinational company,

Vice President o two NASDAQ-quoted

organisations and part o a management

buy-out that eventually ended in the

successul and proftable sale o the

venture to a large buyer.

With all o this behind him Fitzgerald then

went on to become one o three people

to establish Altobridge seven years ago,

a Kerry head-quartered company thataims to reduce the cost o transmitting

calls and data over mobile networks.

According to Fitzgerald, despite all o this

experience, establishing a new venture

was ar rom a simple task:

It was pretty tough actually, its tough to

get started even i you have succeeded

beore, he said. You are starting rom

ground zero and its difcult to be able

to crawl your way through to dierent

markets.

Even the ten years Fitzgerald spent

working or Ericcson proved to be less

advantageous than might have otherwise

been assumed. He said by the time he

returned to the mobile company to try

to develop a relationship or Altobridge

the people he previously counted as his

colleagues were no longer working there.

I spent ten years in Ericcson and since

then theyve become a customer, hesaid. But when we went back that

was probably ater a 10 year gap and I

didnt meet anyone I knew, most o my

connections were in Asia or the states.

Despite this and many other challenges

Altobridge has grown signifcantly in the

past ew years. The company currently

employs 140 people across ofces

in Kerry, Caliornia and Malaysia and

counts many big telecoms players on its

client list.

One major part o the reason or this

growth in business has been its success

in the area o remote communications,

with the company bringing reliable

telecommunications to isolated

communities around the world or a arlower cost than was previously possible.

Fitzgerald said other companies are now

showing some amount o interest in this

area and have begun to compete there

in recent times, but Altobridge is still

holding its own.

A lot o the big guys are now positioning

themselves in this space but we just

recently won a tender so we are still

competing, he said, putting a lot o that

success down to the act that they havesuch experience in the area. The benefts

o Altobridges technology extendsbeyond this market and is also being

oered to companies in more populated

countries to reduce the cost o providing

additional bandwidth to customers.

The ever-increasing penetration o

smartphones such as the iPhone means

that more and more users are looking

to access more inormation than ever

while on the go. This naturally puts more

pressure on networks and potentially

increases their costs, something with

Altobridges technology can counteract.

Data is going through the roo and so

is the cost, he said. As well as remotelocations were also looking at more o a

mass market to try to cut down the cost o

all o this heavy data usage.

Irish storytelling gift a vital assetLiam Casey, an Irishman who manages

the global supply chain unction or

some o the worlds leading consumer

brands, believes that our native

storytelling skills are an important parto the skillset o Irish entrepreneurs who

are shooting or international success.

Mr. Casey who is one o the Endeavour

mentors said story telling is an innate

Irish git and something that he hoped

all new companies would use when

selling their products around the world.

I want to see that entrepreneurs are

passionate about something and they can

articulate their story very clear and in a way

that will capture peoples imagination, he

said. Its a natural ability in Ireland, to be

able to tell the story, thats one thing they

have to understand.

Casey said the ability to sell, and to do so

globally, must be a top priority or companies

and in order to do so they must be able tounderstand the markets they are targeting.

They need to be making sure that they

understand the markets that they are selling

to, he said. I theyve got a concept or a

project they need to know how theyre going

to bring it to market, the route to market, how

theyre going to sell and so on.

PCH International is a supply chain

management company ocused on the

consumer electronics, personal computer,

medical device, telecommunication

industries and clean technologies. It was


www.endeavour.biz

ounded in 1996 in Cork, where it is head-

quartered, with operational headquarters in

Shenzhen, China.

It currently has over 1,000 employees

Liam Casey, Founder and CEO at PCH International

across ofces in Ireland, China, USA as well

as a sotware development team in South

Arica. Casey said there was huge potential

or companies in the Chinese market,

assuming they were willing to actually gothere and take a long-term approach.

The thing about China is i you sell anything

there youre going to sell an awul lot o it,

he said, citing the numerous cities in the

country with populations above 1 million.

But you really have to go to China and you

have to get into the place. You cant do it

remotely.

But whether it is China, the USA or

somewhere else that a company is looking

to target he said it was most important

that they are able to think globally. He did

concede, however, that this is difcult ora start-up to do when money is so hard to

come by.

I would encourage anyone to absolutelythink global but then again you really have

to be tight on your resources, he said.

You have to play globally and you have to

go to Silicon Valley to get your VC money,

you have to know where the market is,

whos going to understand it, where are the

customers and how to communicate with

them.

Mike McKerr, Managing Partner, Ernst &Young Ireland, Mike Fitzgerald, CEO, Altobridge

and Ernst & Young Emerging Entrepreneur o the Year 2009 and President O Ireland, Mary

McAleese

I want tosee thatentrepreneursare passionateaboutsomethingand they canarticulatetheir story

very clear andin a way that

will capture

peoplesimagination


7/8


8/8

Kerry: Home of Entrepreneurship

1

1. Pictured ollowing the announcement o the European Entrepreneurial Region Award are; Ogie Moran, Regional

Manager, Shannon Development, Tom Curran, County Manager, Kerry County Council, Cllr. Bobby OConnell, Mayor

o Kerry, Dr. Clare Rigg, Institute o Technology, Tralee, Michael Carmody, President, Institute o Technology, Tralee,

Marie Lynch, Development Manager, Kerry Technology Park and Dr. Jerry Cliord, Head o Development, Institute o

Technology, Tralee

2. Lisa ODonoghue, Third level Winner 2010, Denis OBrien, Digicel, Jerry Kennelly and Michael Dillane, Second level

winner 2010 pictured at the Young Entrepreneur Programme Blue Sky Day at the Brandon Hotel, Tralee in October.

A quiet revolution -Kerry takes controlof its own future

Three Years ago, The Institute

o Technology, Tralee (ITT),

Shannon Development and

Tweak.com ounder Jerry

Kennelly came together to

create and develop the Young

Entrepreneur Programme. The

objective o the Programme

was to oster a culture oentrepreneurship in the county

and signicantly increase thenumber o Kerry students

that grow up considering and

planning to be entrepreneurs.

The Programme is now studied

by over six hundred students

each year and has received

international recognition or

its innovative approach to

entrepreneurship education.

Following on rom the successo the Young Entrepreneur

Programme, the ounding

partners launched the Endeavour

Programme in September

2009. The Young Entrepreneur

Programme and Endeavour

are dierentiated rom other

programmes by the tremendoussupport and engagement by

local and national entrepreneurs.

Participation in the programmes

has signicantly raised the

awareness o Kerry as a

business location among theIrish entrepreneurial community.

Kerry has been named

European Entrepreneurial

Region o the Year 2011 along

with Murcia in Spain and

Brandenburg in Germany. The

ITT, Shannon Development

and Jerry Kennelly partnership,

combined with the recognition

gained through the EER Award,

has led to the development

o a more ambitious plan toaddress the long term needso Kerry. New initiatives include

the Endeavour seed und

and the Junior Entrepreneur

Programme which is oering

an entrepreneurial learning

program to students as young as

ten throughout the countys 147

primary schools.

As the initiatives grow, so has

support within Kerry and romoutside. Mary Immaculate

College o Education, thecountrys leading primary

teacher training college, and

Kerry County Enterprise

Board are supporting the Junior

Entrepreneur Programme and

LEADER has come on board to

support the Young Entrepreneur

Programme.

Kerrys most signicant modelo global business success,

Kerry Group, has joined the

growing group o supporters

o the initiatives by becoming

a sponsor o Endeavour. The

company contributes in othercurrencies too - many o its

executives, including CEO

Stan McCarthy, give their time

generously to ensure that

emerging entrepreneurs share

in their considerable experience.

Together, these public and

private organisations have the

strength to make County Kerry

an international powerhouse

o entrepreneurship, and are

a fagship example o a groupo people working together toexecute a vision to create a better

uture.

www.endeavour.biz

Take a leap of faith.Ireland has a long track record of globally successful entrepreneurs. Most

of them arent rocket scientists but grounded hard working individuals who

have made their mark not only on Ireland, but on the world. Some of the

fnest minds in Irish business are willing to share their secrets and provide

one to one mentoring to a select group of wannabe entrepreneurs in the

2011 Endeavour Programme.

If youve always dreamed of taking the plunge, heres your opportunity.

Media Sponsors SupportersEnterprise IrelandPlug and Play Tech CenterIrish International Business NetworkKerry Innovation CentreRoyal College of Surgeons in Ireland

it's all about Kerry

2While much o the country was in the grasp o a

property boom, plans were aoot in Kerry to re-

shape the uture o the county and its people

Endeavour is a not-for-prot venture

Apply today at www.endeavour.biz

Places are limited

Kerry has beennamed EuropeanEntrepreneurial

Region of the Yearfor 2011

endeavour news 2011 q1

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