Posted on Monday 16 January 2017 by ub digital
Chris Acheson, founder and CEO of CADshare, announces the investment with Lynsey Cunningham, Entrepreneurial Development Manager at Ulster Bank
A Belfast startup is creating 10 new jobs after securing £200,000 investment.
CADshare, based at the Ulster Bank-powered Entrepreneurial Spark Hatchery in the city, will use the investment to grow the business’s global reach.
Its main product is a platform which allows manufacturers of heavy machinery to bring their aftermarket customer service online, making it faster, more accurate and more productive.
It was founded by mechanical engineer Chris Acheson who has been working with Northern Ireland-based manufacturing businesses to develop the product, which he now plans to launch fully to the market in the first half of 2017.
“Technology is opening up new opportunities to transform the aftermarket business, and CADshare provides a way to unlock new revenue streams and better service. It is a platform that offers significant benefits to manufacturers globally,” he said.
“I am delighted to secure the new investment, which will really help bring the vision for the business to reality.”
He said recruitment will start immediately.
The investment came from a number of sources including techstart NI, private investors based in Northern Ireland and the US, as well as support from Invest NI.
The firm is based at Entrepreneurial Spark, a business accelerator and growth hub for entrepreneurs.
It is part of a major international movement to encourage and support start-up and scale-up businesses.
“I am also very grateful to Entrepreneurial Spark for the mentoring and support, which has been invaluable in terms of really focusing our technology on its best application,” he said. “I would strongly encourage other start-up businesses to take the opportunity to become Entrepreneurial Spark Chiclets.”
Entrepreneur Development Manager at Ulster Bank, Lynsey Cunningham welcomed the news.
“Chris will continue to benefit from the support of Entrepreneurial Spark and its vibrant ecosystem for the next nine months, and I am sure the business will go from strength-to-strength.”
Karen McCallion, Belfast Enabler at the Entrepreneurial Spark Hatchery, said Chris has impressed at the hatchery.
“Since joining the programme in February 2016, Chris has displayed a real #GoDo attitude. He's grabbed every opportunity the Entrepreneurial Spark programme has to offer and it's great to see all the hard work come to fruition. As we work to accelerate his business further, it's going to be an exciting year ahead."