BOSTON & DUBLIN--(BUSINESS WIRE)--Polaris Venture Partners today announced the opening of Dogpatch Labs Europe, a technology company accelerator located in Dublin, Ireland. Polaris’ Dogpatch Labs provide technology entrepreneurs with access to experienced mentors, free space, connectivity, and a community of peers that encourage a constant atmosphere of innovation. In addition to Dublin, Polaris has Dogpatch Labs communities in other vibrant technology hubs, including Cambridge, Mass., New York, N.Y. and Palo Alto, Calif.
Visiting Dogpatch Labs Europe today, the Taoiseach Enda Kenny T.D. said, “I am delighted that Polaris Venture Partners has chosen Dublin for its first European technology company accelerator. Today’s opening reflects the strong relationships being built in the venture capital community by Innovation Fund Ireland. Ireland is already a fantastic country in which to do business with our young, well educated population, competitive business environment and strong track record in innovation. Encouraging high potential start-ups will be a key part in making Ireland the best small country in the world in which to do business. Dogpatch Labs Europe is a welcome addition to our growing hub of business innovators and incubation.”
“The Dogpatch Labs initiative has led to the successful launch of several important companies including Instagram, Formspring, JIBE and Thing Labs,” said Terry McGuire, Co-founder and General Partner at Polaris Venture Partners. “Since the inception of Dogpatch Labs, more than 100 companies have received funding in excess of $140 million. Thirteen companies have already been acquired. We are extremely proud of the entrepreneurs in our network and look forward to establishing relationships with technology entrepreneurs in Europe.”
Polaris has named Noel Ruane to the role of Entrepreneur in Residence (EIR) for Dogpatch Labs Europe. Ruane previously led and managed LaunchPad, an accelerator program for tech start-ups in Dublin, Ireland. Prior to this, he was founder and former CEO of Brandmail Solutions. Earlier in his career, Ruane was VP Business Development for IDA Ireland in Mountain View, California, where he was the overseas officer responsible for attracting marquee tech companies to Ireland including Google, Yahoo, Amazon, Ebay and Paypal.
"We are delighted to have Noel onboard as our Entrepreneur-in-Residence for Dogpatch Labs Europe,” said Dave Barrett, General Partner at Polaris Venture Partners. “Noel is both a successful start-up company entrepreneur and a very talented mentor, and he has strong relationships in the technology community in Europe and the United States. We also appreciate the support of Innovation Fund Ireland and the National Pensions Reserve Fund in bringing Dogpatch Labs to Ireland.”
As EIR for Dogpatch Labs Europe, Ruane will work with early stage entrepreneurs and founders from across Europe as they conceive of and launch startups. He will also build on the synergies between the three other Dogpatch locations in the U.S., and capitalize on the growing alumni network of entrepreneurs worldwide.
"I'm very pleased to join the Polaris team and to lead the European Dogpatch Labs initiative out of Dublin,” said Ruane. “Building on the success of Dogpatch Labs in the U.S., the Dublin location will host entrepreneurs from across Europe, creating a truly global community of Dogpatch entrepreneurs.”
Over the last two years, there have been 500 residents and 300 companies in the Dogpatch Labs network. Dogpatch Labs Europe anticipates adding 10-20 companies by the end of 2011. To date, more than 100 Dogpatch Labs companies have received funding, with financing ranging from $100 thousand to $10 million. Over $140 million has been invested in Dogpatch Labs companies, and 13 companies have moved to acquisition.
About Polaris Venture Partners
Polaris Venture Partners, founded in 1996, identifies and invests in exceptional entrepreneurs and operating companies with innovative and disruptive ideas. Our investment focus includes technology, life sciences, and growth equity. We have $3.5 billion under management and current investments in over 100 companies. The cornerstone of our investment philosophy is diversification. We invest in seed and early-stage companies, as well as in high growth middle-market businesses. As the lead or co-lead investor in virtually all of our portfolio companies, we take an active, long-term role in helping them develop into successful, market-leading companies. For more information, visit www.polarisventures.com.
About Dogpatch Labs
Dogpatch Labs was developed by Polaris Venture Partners to provide creative space for entrepreneurs to connect and to share experience and ideas that help them establish startup companies. Dogpatch Labs, which has locations in Cambridge, Mass., New York, N.Y., Palo Alto, Calif. and Dublin, Ireland, provides desk space, bandwidth, and mentorship to aspiring entrepreneurs. For more information about Dogpatch Labs Europe, start-up founders can contact: dublin@dogpatchlabs.com.
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