Assiduous Selected by EIT Digital to Join Open Innovation Factory 2024
- Capital markets technology pioneer secures €500k funding package to commercialise AI native advisory engine
Assiduous Corp Ltd. (“Assiduous”), the capital markets technology pioneer, today announced that it has been selected by EIT Digital to join the Open Innovation Factory 2024.
With the financial commitment from EIT Digital together with an investment from Enterprise Ireland through the Pre-Seed Start Fund (PSSF) the company has secured a €500k funding package to commercialise Assiduous’ AI native advisory engine over the coming 6 months.
Assiduous is commercialising the corporate finance autopilot, its software-as-a-service solution to prepare small and medium sized companies for strategic, financing and liquidity transactions. Assiduous is embedding the latest AI methodologies in its proprietary workflows and is presently working with a small number of pilot customers to perfect its solution.
The Open Innovation Factory is EIT Digital’s flagship programme of support for innovative early-stage ventures. EIT Digital provides financial support and access to a network of industry leaders and investors to accelerate the market uptake and scaling of research-based digital technologies focusing on Europe’s key societal challenges: Digital Tech, Digital Cities, Digital Industry, Digital Wellbeing, and Digital Finance.
As part of the EIT Digital funded activities, Assiduous is collaborating with pan-European stock market operator Euronext Group to enable more small and medium sized companies consider a stock market listing on Euronext’s markets, using Assiduous’ technology.
Assiduous, headquartered at NovaUCD in Dublin, was founded by experienced investment bankers Fergal Meegan and Barry Murphy.
Fergal Meegan, Chief Executive Officer, Assiduous, said, “We are honoured to be selected to join the EIT Digital start-up portfolio capable of addressing Europe’s strategic challenges. The Open Innovation Factory 2024 falls at a perfect moment for Assiduous as we work towards a public launch of our solution. We would also like to thank Enterprise Ireland for its funding support through the PSSF.
In addition, we would like to acknowledge the NovaUCD community, the New Frontiers Programme, the Dún Laoghaire Rathdown Local Enterprise Office, and NDRC for enabling and supporting us to avail of this European opportunity so soon in our life cycle.”
Dénes Csiszár, Interim Head of Acceleration and Growth at EIT Digital, said, “We welcome Assiduous to the EIT Digital family. At EIT Digital, we recognise the value that innovative companies like Assiduous are bringing to digitalising finance. We look forward to supporting Assiduous commercialise their platform for the benefit of European small and medium sized enterprises seeking to access capital markets.”
ENDS
16 July 2024
For further information contact Micéal Whelan, Communications and Media Relations Manager, UCD Research and Innovation, NovaUCD, e: miceal.whelan@ucd.ie
Editors’ Notes
Assiduous is a team of capital markets professionals and technologists dedicated to helping business owners progressively build valuable businesses and achieve financial independence. Established by experienced investment bankers Fergal Meegan and Barry Murphy Assiduous was launched with pilot customers in 2023.
Now backed by EIT Digital and Enterprise Ireland Assiduous is commercialising its AI native advisory engine, combining the latest generative AI methodologies with proprietary business processes, to streamline the administration of corporate finance to meet the requirements of business owners through their entire corporate lifecycle. By democratising access to persistent, quality corporate advisory, streamlined and enhanced through digitisation and AI, Assiduous enables SMEs anywhere to be prepared for efficient and credible market engagement and capital raising.
www.assiduous.tech and https://www.linkedin.com/company/assiduous
EIT Digital is an EU co-funded, pan-European ecosystem of digital innovators with the objective of building a competitive digital Europe. EIT Digital invests in strategic areas to accelerate the market uptake of research-based digital technologies focusing on Europe’s strategic, societal challenges: Digital Industry, Digital Cities, Digital Wellbeing, Digital Tech and Digital Finance. Launched in 2010, EIT Digital has helped more than 780 start-ups and scaleups to grow internationally, created more than 250 ventures and launched more than 540 products and services commercially.
https://www.eitdigital.eu/ and https://www.linkedin.com/company/eit-digital/
Open Innovation Factory is EIT Digital’s flagship programme to create innovations and launch deep tech ventures. EIT Digital’s Open Innovation Factory 2024 is tailored to propel early-stage deep tech startups towards success by addressing critical growth challenges. The program offers up to €400,000 in financial support, along with mentoring, coaching, and access to EIT Digital’s vast network of over 350 partners, including industry leaders, public sectors, investors, and academic institutions.