50 Irish tech start-ups get their own tracker

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[Ireland] The top 50 technology start-ups in Ireland are now being ranked and tracked weekly online, receiving a score of 1-100 based on performance, press coverage and other variables.

In a joint effort with Silicon Valley-based tracking company YouNoodle, the Irish Times newspaper is producing the Irish Times Tech 50 feature, posted on its business website, where the 50 companies’ weekly ups and downs can be followed.

Top of the pile for the first two weeks is mobile social media software company NewBay, founded by entrepreneur and former Baltimore Technologies executive Paddy Holahan. The company includes most of the largest European mobile operators among its customers, including Telefonica, Vodafone, Orange, T-Mobile and France Telecom.

Rankings are determined by crunching news stories and statistics on the companies through algorithms to achieve a score of 1-100. A score above 90 indicates the company is likely to be acquired or make a public offering. Young start-ups just out of the gate are in the 1-15 range; those that are picking up customers, visibility and funding move into the 30-60 point range.

The rankings are to some degree speculative, as they are based on publicly available information or press coverage. Many private companies of course choose to keep detailed information about their funding and operations hidden, or may have remained below the press radar so far.

Ironically, Web Reservations International came in at number two in the first weeks based on past media coverage and information. But following its recent sale for about $340 million to private equity firm Hellman and Friedman, the company will now disappear from the listings.

However, company co-founder and serial entrepreneur Ray Nolan will no doubt be pleased to see two of his other company involvements making the Irish Tech 50: healthcare search site RevaHealth, currently with a score of 32, and recruitment site Worky, on 22.

Other companies in the top 10 include executive rewards firm Globoforce, social responsibility site Ammado, P2p IPTV company Babelgum, telecoms equipment company Intune Networks, mobile solutions company Equiendo, payments company Realex Payments, car rental distribution firm CarTrawler, and online social gaming company eRepublik. All scored above 50.

Companies have to be younger than 10 years old to be included in the list.The listings will be recalculated each week along with a graph feature to chart progress — or lack of it.

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    […] Top of the pile for the first two weeks is mobile social media software company NewBay, founded by entrepreneur and former Baltimore Technologies executive Paddy Holahan. The company includes most of the largest European mobile operators among its customers, including Telefonica, Vodafone, Orange, T-Mobile and France Telecom. Read more […]

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  • http://www.elephant.ie/blog Elephant Self Storage

    Congratulations to pix.ie and Arekibo communications its a great achievement.

  • http://tuittr.com Merrill

    So the Article on the Irish Times Tech 50 published on Techcrunch is written by a journalist also working for … the Irish Times!

    Conflict of interest 101!

  • http://www.techno-culture.com karlin Lillington

    I work for the Times but also have worked for (and in some cases, continue to occasionally write for), nearly every national paper published in Ireland, several of the Irish magazines, several of the UK dailies, some US dailies, and most of the US tech magazines, so my ‘conflict of interest’ could range pretty widely :-). In addition, as would happen when your national population is smaller than the Silicon Valley region, I have met many of the people running the tech companies on the list.

    None of that means one has a conflict of interest per se, but a duty of care and I will stand on my own national and international reputation in this regard (understanding some people will have varied opinions on this!). In this particular case, and I think as retweets of the story have amply demonstrated, I believed there was a large potential public interest in being able to track a wide range of Irish startups, and the access to the listing is free. If the tracker had been created by, say Silicon Republic, a tech news website in Ireland, or rival paper the Independent, I’d have flagged it as well.

    If there’s a conflict of interest, it is perhaps my desire to give Irish startups a bit more international profile and exposure and therefore, agreeing to file the occasional post for TC. Having covered technology since 1996 for a range of publications — primarily The Guardian, the Sunday Business Post and the Irish Times — I do know there’s an appetite for more info internationally on Irish startups and til now, a lack of this handy kind of analysis.

    Finally, though the Times carries the tracker, it is actually produced by a Silicon Valley company which does this internationally.

    In an ideal world with a large range of correspondents, it would have been nice to ask someone else to write up the tracker. But in my case, it’s a no-budget world of voluntarily doing blog posts simply because of my own passion for the industry, and feeling Ireland has news to contribute that is of interest to some others out there — and as I am one of the only people doing TC from Ireland (I think the only person perhaps?), the job fell to me (in the wee hours I might add!). If others with an ability to write and some access for interviews and awareness of industry would also like to join in and work for free, I am sure the TechCrunch team would like to hear from you! :-)

  • http://evertb.wordpress.com Evert Bopp

    “score of 1-100 based on performance, press coverage and other variables.” That’s set of very loose criteria really isn’t it?

  • http://younoodle.com/scores Kirill Makharinsky

    @Evert the score is based on factors which influence valuation; in particular employee figures, funding, revenue and traffic. Press coverage is also a factor but in most cases a much smaller one.

  • kenbrady

    I personally know a few of those companies and they have no customers or income.

  • Steve

    Some very odd companies there that deserve no place on the list, and agree with Ken, I know one company on the list that has no real customers.

  • http://www.techno-culture.com karlin Lillington

    Just having customers or not is not a factor for entry to the list. John Collins wrote a piece last week in the Times on how the scores are determined. But this is from the Younoodle.com site:

    What kind of data does the Startup Predictor factor into the results?
    The product’s “secret sauce” is the data we collect and how we collect, analyze and weight that data. Because we have a provisional patent pending for our current and more advanced algorithms we haven’t made available yet, we can’t share all the details. But we can say that we consider a number of factors about a company, including:

    Team (backgrounds, education, dynamics between team members)
    Advisors (backgrounds, track record)
    Financial factors
    Company concept

    Press coverage, and range of publications, is a factor but not the major element. Moe info here:

    http://younoodle.com/static/faq

    I’d off the top of my head, have a couple of companies in mind that should probably be on the list and likely will enter it I should think. But in all cases they have very little information publicly available on their websites and though I know they have received angel funding, for example, this wouldn’t be public knowledge.

    This is a starting list of companies; I’d expect it to change over time. :-)

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    […] » 50 Irish tech start-ups get their own tracker […]

  • http://www.mneylon.com/blog/ Michele

    I’d agree with some of the other comments
    While I can see why some companies are on that list there are several on there that really shouldn’t be on any list.
    What is NOT clear is who chose this arbitrary 50 companies.

    Michele

  • http://www.hosterstats.com John McCormac

    It would be interesting to learn how or if the US algorithm has been adapted to the Irish business environment. Many Irish startups would not have access to as many tech publications and some have a very low profile on social networks.

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