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AIB Seed Capital supports IBM Smartcamp

13th October 2009

Fund to Invest in Start-up and Early Stage Businesses in Ireland

Dublin, Ireland – October 13, 2009: IBM (NYSE: IBM) today announces the five finalists who will compete at SmartCamp 2009 an exclusive networking and mentoring event for entrepreneurs in Ireland. SmartCamp provides access to world-class advisors plus assistance to provide a direct route to seed and venture capital.  The panel of sponsors includes investors and business leaders who selected the five finalists.

Announcing the finalists, Claudia Fan Munce, Managing Director IBM Venture Capital said, “SmartCamp is a very practical approach to connect the best start-ups with leading investors.  This programme is part of our investment to promote innovation and help build a smarter planet.”

SmartCamp is being run as part of the Innovation Dublin week and is sponsored by IBM, Seedcamp, Vodafone, AIB Seed Capital Fund, and the National Digital Research Centre (NDRC). Dublin City Council, Enterprise Ireland, Irish Software Association, TCD, UCD and DCU also provided support and assistance.
The finalists will attend an intensive one day event session on October 15th at Dublin City Council Offices on Wood Quay. Each company will meet and have informal discussions with groups of experienced entrepreneurs, international VC’s and executives from large corporations.

IBM is offering the winning candidate of their choice, a three month mentorship course at its Dublin Innovation Centre to help them build an ‘investor ready’ commercial proposition in order to secure funding. Vodafone will offer a 3 month mentorship course to a candidate of their choice. AIB Seed Capital Fund will make an offer of investment of €50,000 to each of two candidates of their choice subject to normal diligence. NDRC will offer a prize worth up to €25,000, to a candidate of their choice.

The five finalists are:
Cloudsplit – A Dynamic Infrastructure and Analytics Company

Heystacks – A Social Search Engine Company

Green Diamond – A Waste Management Company 

ResourceKraft – An Energy Efficiency Management Company 

TreeMetrics – A Forestry Management Company

IBM Venture Capital Group seeks to proactively build mutually beneficial strategic
relationships with venture capital firms and their portfolio companies within the global community focusing on growth markets and emerging technologies. Venture Capital Group's mission is to promote an innovation ecosystem engaging IBM resources and capabilities with that of its VC partners and other key innovation drivers to maximize growth opportunities.

For more about SmartCamp
see http://www.ibm.com/ie/smarterplanet/smartcamp

For more about Innovation Week see http://www.innovationdublin.ie

IBM Press Contacts
Joss Walsh
Media Relations, IBM Ireland
+353 -1-815-4772
+353 86 8542054

Tod Freeman
Global Communications Manager
IBM Venture Capital Group, USA



Enterprise Equity Venture Capital Group, Dublin Rd, Dundalk, Co Louth
Tel: 042 933 3167, Fax: 042 933 4857, Email: info@enterpriseequity.ie
Enterprise Equity Venture Capital Group is a trading name of Venture Capital Investment Management Limited
Registered office: Teagasc Building, Dublin Road, Dundalk, Co Louth
Registered in Ireland, Company No. 475271
Venture Capital Investment Management Limited is regulated by the Central Bank of Ireland

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