South East Technological University (SETU) has celebrated the achievements of companies based at its Xcelerate Centres across the region, highlighting their contribution to innovation, employment and economic growth in the South East.
Entrepreneurs, business leaders and members of the SETU innovation community came together for the SETU Xcelerate Lunch, which recognised the progress being made by companies developing and scaling their businesses within the University’s enterprise and innovation ecosystem.
The event also highlighted three significant successes achieved by Xcelerate client companies over the past year: GoChallenge, Klearcom and CameraMatics.
GoChallenge successfully closed a €500,000 pre-seed funding round, while Klearcom secured a significant investment from Synova. CameraMatics secured a €49 million funding round involving Blume Equity, the Ireland Strategic Investment Fund (ISIF) and Goodbody Capital Partners.
Supporting companies to start and scale
SETU President Professor Veronica Campbell told attendees that the achievements reflected both the ambition of the companies involved and the capacity of the South East to support the development of innovative businesses with global potential.
“Innovation and commercialisation are at the forefront of SETU’s priorities, with activity taking place across multiple campuses throughout the region,” Professor Campbell said.
“At SETU, we believe innovation creates impact both regionally and nationally, and that the commercialisation of research and innovation is central to creating jobs, prosperity and economic growth.
“The development of our incubation and enterprise activities over the past 20 years has helped support indigenous companies with global ambitions, while also contributing to the South East’s ability to attract investment and retain talent.”
Creating high-value employment in the South East
Companies currently based across SETU’s three Xcelerate sites directly employ almost 250 people, with their wider activities supporting many more jobs.
The development of our incubation and enterprise activities over the past 20 years has helped support indigenous companies with global ambitions, while also contributing to the South East’s ability to attract investment and retain talent."
Professor Veronica Campbell, SETU President
Professor Campbell said the companies represented an important part of the region’s innovation ecosystem:
“The entrepreneurs and business leaders within our Xcelerate Centres are building highly innovative and ambitious companies that are driving growth and sustainability in the South East.”
She continued, “They are creating high-value employment that helps retain the talent developed in this region while also attracting new talent to the South East.”
She added that the recent successes of GoChallenge, Klearcom and CameraMatics demonstrate what can be achieved when ambitious companies have access to the appropriate environment, expertise, networks and supports.
“These successes are testament to the capacity of this region to support the development of innovative companies with global potential,” Professor Campbell said.
“SETU is committed to supporting that ambition through the development of talent, world-class research and innovation infrastructure, and an environment that encourages collaboration and connection.
“We thank our client companies for choosing the South East as a place to start and scale their businesses, and we look forward to continuing to nurture these important relationships.”
Building the region’s innovation ecosystem
SETU Xcelerate Centres provide an environment in which entrepreneurs and innovative companies can develop and grow while connecting with the wider expertise, research capability, facilities and innovation supports available through the University.
Mark Rohan, Founder and Chief Operations Officer at Klearcom, is proud of how his company has performed, all from the Xcelerate Centre in Waterford. He said, “Klearcom has been based in the SETU Xcelerate Centre (formerly ArcLabs) since its formation in 2020. Completing the regional accelerator programme, NDRC at ArcLabs, and being able to tap into the resources of the innovation community of SETU Xcelerate has been fundamental to the success of Klearcom over the years. We closed our first funding round within 12 months of formation and completed two more significant investment rounds since. We now employ almost 30 people in our Waterford offices. And we were able to do this, and grow our global company from this HQ in Waterford; something my co-founders and I are incredibly proud of.”
The Xcelerate Lunch provided an opportunity to recognise not only the major milestones achieved by individual companies, but the collective contribution of the Centre’s client companies to building a stronger innovation ecosystem across the South East.
Through its research, innovation, enterprise and commercialisation activities, SETU continues to work with companies at different stages of development, helping businesses connect with expertise and opportunities that can support innovation, growth and impact across the region.