They made their mark as bright teenagers in the Young Scientist & Technology Exhibition (YSTE), now the Collison brothers, through their company Stripe, have become overall sponsor of the event.
Headed by Patrick and John Collison, Ireland’s youngest billionaires, Stripe has signed an initial five-year contract as title sponsor of the annual exhibition staged in Dublin’s RDS.
The global financial services company, with dual headquarters in Dublin and San Francisco, takes over from BT Ireland, which was custodian, sponsor and organiser of the exhibition for the past 25 years.
The announcement was made by the YSTE board which oversees the competition.
Following a competitive selection process with 30 parties initially expressing an interest, Stripe secured title sponsorship, it said, “thanks to its shared passion with YSTE and commitment to promoting Stem [science, technology, engineering and maths] education in Ireland – values exemplified by co-founder Patrick Collison, a former YSTE winner, and his brother John, who also won a category award at the exhibition”.
In 2005, Patrick, then 16, won for developing a new computer program language, having been runner-up in 2004.
He said the “YSTE is a special institution for me and John. It amplified our curiosity and reinforced our confidence at a critical juncture. We’re honoured that Stripe has been selected to help preserve it for generations to come”.
Stripe was chosen “for its clear vision for YSTE, its multiyear sponsorship commitment and its ability to support the large volunteer force required for delivery of an event of this scale”.
No details of the financial commitment were provided, although it is understood BT committed up to €1.5 million annually.
YSTE chair Prof Pat Guiry congratulated Stripe on its selection.
“What really struck the board was the level of commitment and passion Stripe displayed in wanting to honour the legacy and vision Dr Tony Scott and Rev Dr Tom Burke created more than 60 years ago,” he said.
“We are confident Stripe will be exceptional partners in the years ahead – not only given [its] global reputation as a leader in tech innovation, but also given its strong connection to YSTE through Patrick and John Collison, who are both past participants in the competition, with Patrick taking home the overall top prize in 2005.”
On Stripe’s involvement, Young Scientist co-founder Dr Scott said: “Their support ensures we can continue to inspire the next generation of scientists, technologists, engineers and innovators. It’s vital that we not only sustain the strong reputation and level of interest in the exhibition year-on-year, but continue to evolve and engage young inquiring minds in new and meaningful ways for years to come.”
Eileen O’Mara, chief revenue officer at Stripe, said it was rare to find a youth science event that captured the imagination of a whole country.
“YSTE propels many students into a lifelong career in Stem, and strengthens Ireland’s science and technology ecosystem … [We] look forward to working with the YSTE team and board to continue inspiring young people with the power of science,” she said.
