I was first introduced to Dublin BIC (joint investment manager of the AIB Seed Capital Fund) in September of 2008. This was at an early stage of VisibleThread's fundraising activities. When you approach someone like Dublin BIC, the worry is always that they will be heavy on theory and light on practicality, as entrepreneurs, we have limited time for navel gazing.
From the very first interaction, it was clear that the approach was no nonsense and the general guidance offered was of an exceptionally high caliber. Dublin BIC was realistic, importantly offering guidance where it was really needed in terms of cleaning up the message and ensuring an 'investor ready' pitch. They were a second set of eyes that helped highlight areas that needed tightening in terms of the pitch and business plan.
In real terms our business model always required funding. This is the second string to their bow, Dublin BIC are much more than just an 'incubation' facility. They brokered introductions to fund sources and in what is probably the worst funding climate in decades, they were absolutely instrumental in helping secure funding for VisibleThread.Tech entrepreneurs who are prepared to realise that they don't know 100% about everything, who can take guidance and who are looking to raise private or institutional funds would be mad not to engage with Dublin BIC.
Fergal McGovern, CEO, VisibleThread