The Propeller Venture Accelerator was established in 2010 with the funding of €1 million from Irelandia Investments. The aim of this startup accelerator programme was to accelerate early stage technology startup companies, both Irish and international, in Dublin.
The Propeller Accelerator has taken the successful US accelerator model and adapted it to the Irish context. In early 2011 the Propeller Accelerator become a charter member of the Techstars Network, only one of five outside of the US and only one of three in Europe.
The Propeller Venture Accelerator has an emphasis on software, Web 2.0, applications, informatics and cleantech startups.
The accelerator programme was a mentor-led, three months incubation with free space and services and an additional €30,000 to €45,000 cash investment in each company. This is in return for a 6.5% to 7.5% equity stake. Over 29 startups participated in this accelerator between 2011 and 2015.