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Innovation Fund Ireland attracts entrepreneurial hub to Dublin Back
The National Pensions Reserve Fund (NPRF) has made a $50 million investment in Polaris Venture Partners, through Innovation Fund Ireland, a Government backed initiative. The fund has been designed to attract leading international venture capital fund managers to invest in Ireland and this strategy has had a significant success as Polaris have taken the decision to base it first Dogpatch Labs facility outside of the US in Dublin.

Polaris' Dogpatch Labs typically house 30 to 50 entrepreneurs working on new technology and life science related businesses at early stages of development. The Dublin facility will hope to emulate the success of Polaris' US labs based in San Francisco, Cambridge (Massachusetts) and New York, where there is a fresh intake of entrepreneurs and start-ups every six months. Polaris expects to attract high quality entrepreneurs from across Europe to Dublin and it is hoped the move will act as a catalyst for entrepreneurship in Ireland.

"Dogpatch Labs has been highly successful in establishing hubs of entrepreneurial activity in the U.S. We are excited to be taking that model to Ireland, which has already attracted the likes of Google, Facebook and LinkedIn, and are hopeful that, in partnership with Innovation Fund Ireland, Dogpatch Dublin will emerge as a key hub for entrepreneurs across Europe," said Terry McGuire, Managing Partner Polaris.

"This investment, which forms part of our commitment to Innovation Fund Ireland, is a strong commercial opportunity for the NPRF and the establishment of a Dogpatch Labs in Dublin creates an important new catalyst for entrepreneurship in Ireland," said Paul Carty, Chairman of the NPRF.
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