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DateWednesday, October 29, 2014

Video Startup Shotclip Moves Border

Dublin Loses High Quality Startup Jobs as NDRC Startup Moves Primary Office to Newry with UK Funding



Dublin Startup ShotClip Move Northwards to Newry with €350k Funding

ShotClip, a cloud-based software development start-up, has announced that it has moved its base from Dublin to Newry due to significant funding of £350,000 from the Invest Growth Fund, and London based VCs Jenson Solutions. Invest NI is also supporting the ShotClip with £48,000 over the next two years to help the company with job creation.



Starting its life on the NDRC Launchpad programme, ShotClip has created social movie-making software that enables users to plan, record and edit a professional looking home movie through an interactive story-building app on their Android and iOS Smartphone or tablet device. The software enables multiple users to collaborate to make movies at special events, such as a wedding, or for larger scale global crowd campaigns.


The company has been developing its software product to beta status during the last 24 months and claims to have 70,000 users, of whom 50% are in North America, 40% in South America, and 10 per cent are in Europe.



ShotClip first received £200k match funding from E-Synergy, the handlers for the UK government Invest Growth Fund, along with £150k from Jenson Solutions, who primarily invest in cloud based businesses. Talking to this morning, Founder and Managing Director, Conor McNally (pictured right) said that whilst the process of obtaining funding is similar between Ireland and the UK, there is much more activity by London based VCs than here in Dublin. "Our time in the NDRC has been worthwhile because it got us to a point of being 'pitch-ready' which is crucial for a startups nowadays. But, we found that when we went to pitch to VCs, there was much more enthusiasm and interest in what we are doing from those based in the UK."



McNally, a Dundalk native, said the funding will enable his company to maintain inhouse technical development for quality and consistency, and also to undertake some additional marketing activities.


"Our product is unique in so far as it allows users not just record a clip, but to stitch multiple clips together which then become a 'story'. Our aim is to make ShotClip a mass market global product with one million users by the end of 2015. That will require an extensive marketing campaign as well as further development of the product. We will therefore be employing skilled technical, design and marketing professionals who will be based in Newry."



Invest NI has offered £48,000 of support for the jobs, which will although are higher than the Northern Ireland private sector average, are significantly less than those in Ireland. Welcoming the company's decision to locate to Newry, Barry McBride, Invest Northern Ireland's Executive Director of International Business said: "ShotClip is the kind of innovative technology company that has the potential to be a world player. It has decided to relocate to Northern Ireland because of the quality of the talent pool here and the opportunities for raising investment quickly to support its scaling plans."



McNally concluded hiring developers in Dublin had been difficult and costly.



ShotClip's new crowd movie making app is being released in November 2014.







Who Is Conor McNally


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