Platform 94 CEO Marie Donnellan says the opportunity to create a community of strong, scaling businesses across the West of Ireland with a focus on global growth has never been greater.
Originally forged as the Galway Technology Centre in the aftermath of Digital Equipment Corporation’s decision to substantially reduce its Galway operations in the early 1990s, the expanded Platform 94 is intent on beginning a new chapter for the region.
Recognised nationally and internationally as the West’s centre of excellence for scaling technology companies, the tech hub has grown its physical presence in Galway to more than 11 times its original size. It opened its doors in 1994 as a 6,000 sq ft facility and today, after three expansions, stands at 66,000 sq ft of space.
“When you’re a start-up and you’re bootstrapping things can be chaotic and that’s exciting. But when you’re trying to scale a business internationally, you can’t scale chaos”
Since its inception it has supported more than 3,000 jobs and is estimated to have generated €1.3bn worth of value-add for the West of Ireland.
Platform94 forecasts the delivery of more than €80m in value-add to the regional economy this year alone.
More than 650 people are employed on site by a range of innovative businesses with new arrivals including expanding Dublin firm Financefair which has made Platform94 its first location outside the capital and homegrown tech firm Galvia AI.
The expanded tech hub was officially opened in February and boasts a range of facilities from co-working spaces and dedicated offices for businesses to meeting spaces and a podcast studio, to name a few.
Who dares scales
“You cannot put a price on the added value it delivers in terms of nurturing a dynamic ecosystem, helping countless businesses to scale internationally and supporting significant job opportunities”
Now at 92% occupancy, CEO Marie Donnellan sees the mission of Platform94 as spearheading a community of scaling tech businesses across the West, North-West and beyond. In a sense, Platform94 is no longer a place but a movement.
In May the hub announced the creation of a new International Scaling Community of ambitious, internationally-scaling tech businesses that include Mbryonics, BuyMedia and Core Optimisation to name a few.
This came in the wake of a successful pilot of an Enterprise Ireland-backed three-month long International Scaling Programme that involved eight regional businesses and included market visits to the US and UK.
Speaking with ThinkBusiness, Donnellan said that there is an established pedigree of successful digital and medtech businesses in Galway and across the wider region. She says that while start-ups focused on certain sectors are in vogue, what really matters are businesses that can scale and create jobs.
“The potential for the West of Ireland is incredible. There are things here to propel us forward and of course there are things that need to be changed. But in order to change things, you need to get to the heart of the matter.”
The heart of the matter is how businesses scale but also what makes a balanced and compelling ecosystem. Platform94’s immediate community is a mixture of start-ups, indigenous scale-ups and foreign direct investment (FDI) organisations that use the hub as a landing base when they arrive in Ireland.
The former EY accountant who grew up serving customers in her family’s bed and breakfast says that Galway’s success lies in how multinationals and indigenous businesses co-exist. “Many indigenous businesses in the Galway region were spin-outs or were founded by former workers at FDI firms. When the multinationals and indigenous businesses work hand in hand, the result has a phenomenal impact on the region. It results in an established ecosystem of suppliers, customers and potential acquirers working hand in hand.”
A key trend Donnellan is seeing is more and more start-up businesses in the region bootstrapping. “Obviously getting investment is fantastic but it has to be done at the right time for the right reasons. They need to know exactly why they are taking on investors. It has to be about more than just money. It has to be about having the right partners to bring your business to the next level.”
The role of Platform 94, she explains, is to make it viable for growing businesses to establish a physical presence and create a base that will cover the transitional period between start-up and becoming a scaling business that will one day require a bigger premises.
“The relationship goes beyond a physical presence. The focus is on community. We’re lucky that we are just at the end of the motorway, we’ve free parking, we have co-working spaces and meeting rooms, but it’s about being part of the community.
“We have a boardroom sponsored by Bank of Ireland and PwC have backed our media suite, all of which serve as cost-effective resources for growing businesses.
“The potential for the West of Ireland is incredible. There are things here to propel us forward and of course there are things that need to be changed”
“The past five years have been heavily focused on growing the building and rebranding from the Galway Technology Centre to Platform94, the ’94’ being a nod to the year it was founded more than 30 years ago.”
Having grown up in a family business, Donnellan says she is naturally energised by people and as such found the transition from the corporate world of EY where she worked as an Audit Director, supporting on the Entrepreneur of the Year programme, to the world of supporting scale-ups a natural one.
“I part-time managed a shop at home for six years as a teenager and I just loved dealing with people. That is what drives me and always has.”
At the same time, her grounding in finance is pivotal. “I can bring in different viewpoints. But at the end of the day everything in business is about money. Every strategic decision should be based on proper financial analysis.”
Her vision for Platform94 is to raise all boats for the West of Ireland. “We are based here in Galway but are committed to reaching out into all rural areas of the West of Ireland.
“I think there are fantastic supports in Ireland for starting a business but when you’re a few years in operation and you’re trying to scale internationally, I think that’s where the gaps are. Beyond funding, it is about making those international connections, acquiring talent and winning business. When you’re a start-up and you’re bootstrapping things can be chaotic and that’s exciting. But when you’re trying to scale a business internationally, you can’t scale chaos.”
For Donnellan it is imperative that scaling becomes a priority for businesses across the West. In June a project Platform94 ran with Galway Chamber entitled ‘Galway Scaling Globally’ won ‘Best International Project’ at the Chambers Ireland Awards. The same month scaling Irish fintech Financefair selected Platform94 for its first regional base outside of Dublin.
“Our International Scaling Community is a key strategic focus for us for the coming year. From my years in the Entrepreneur of the Year programme, I really saw the benefit of the community that can be created among founders and business owners and the alumni these programmes create. At the heart of this is the mentorship that scaling business owners can offer each other. Irish people by their very nature are entrepreneurial and very good at making relationships. We’re grafters!”
‘’Platform94 has played a key role in the creation of thousands of local jobs since it was first established 30 years ago,” noted Gerard Broderick, senior relationship manager for Corporate & Commercial Banking at Bank of Ireland. “The recent expansion of its physical presence together with the supports and scaling programmes provided mean Platform 94 play a vital role in the development of enterprise in the West of Ireland. Marie and her team have the expertise and a clear passion to deliver for businesses as they move through their growth journey.”
His colleague Paul Swift, head of Tech, Media and Telecoms Sector at Bank of Ireland, added: “It’s wonderful to see the transformative impact that Platform94 is continuing to have on Galway and the wider West of Ireland. Its success has been nothing short of phenomenal, having grown 11 times the size of their original facility.
“You cannot put a price on the added value it delivers in terms of nurturing a dynamic ecosystem, helping countless businesses to scale internationally and supporting significant job opportunities. This can only be good news for Galway, driving sustainable growth and reinforcing the region’s reputation as a leading tech sector hub.”
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