Presentation 8 - John Murphy - Vision2020 Dublin Forum
8
Vision 2020 Dublin Funding Capital Intensive Startup Initiatives John Murphy 10 October 2014 www.pwc.com
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John Murphy - Tax Director, PwC Startup Ireland Vision2020 Dublin Forum Key recommendations of the Activating Dublin report included an international startup competition to bring international talent to Dublin and an iconic startup HQ in which to house them and send out a message to the world that Dublin is a key startup hub. This requires investment and to describe how this could potentially be funded we are joined by John Murphy.
Transcript of Presentation 8 - John Murphy - Vision2020 Dublin Forum
Vision 2020 Dublin
Funding CapitalIntensive Startup Initiatives
John Murphy10 October 2014
www.pwc.com
#Vision2020 DublinPwC 2
What is the vision?
“Make Dublin the best place to start a Tech Business”
Activating Dublin: #Best place to start
10 October 2014
#Vision2020 DublinPwC 3
Activating Dublin: #Best place to start
Focus on funding two capital intensive project recommendations
1. Talent Pipeline & International Profile for Dublin
Developing flagship competition/programme akin to Startup Chile or Boston MassChallenge
2. Infrastructure
Development of iconic startup facility to provide access to integrated startup supports
10 October 2014
#Vision2020 DublinPwC 4
Cost/Benefit of Funding?International Startup Competition/Programme
• Startup Chile : $13m+ Funding
• $40k seed capital across 200-300 companies per annum
• Additional program support and administration costs
• MassChallenge : $2m+ Funding
• $1m+ in cash prizes annually
• Additional program support and administration costs
10 October 2014
#Vision2020 DublinPwC 5
Cost/Benefit of Funding?
Iconic Building
• Similar to Cambridge Innovation Centre
• Lobby, Core Space and Top Floor
• Service Support Centre
• Depending on location, size and development required - €xxms
October 2014
#Vision2020 DublinPwC 6
Possible Funding Alternatives
1.Private Sector for Profit Initiative
2.Private Sector – Sponsorship/Philanthropy
3.Public Sector Funding
4.Public Private Partnership – ‘PPP’
10 October 2014
#Vision2020 DublinPwC 7
Why PPP?
1. Access to Finance
2.Risk allocation (Funding, Construction, Operational etc)
3. More expertise to allow rigorous project assessment
4. Should ensure more value for money for all parties
5. Track Record of Success of PPP in Ireland and Overseas
10 October 2014
#Vision2020 DublinPwC 8
Keys to Success and Areas for Consideration
Define Public Benefit and Actions to Deliver it
Ensure Stakeholder Support
Identify the Public Sector Champion
Have a Defined Statutory Framework
Develop Detailed Business Plan/Contract with Clearly defined revenue stream
Pick the Partner Carefully!10 October 2014
