Paying It Backward

Stripe co-founder Patrick Collison pictured winning the exhibition's award in 2005.  RollingNews.ie

Suppose there was ever a case in sponsorship of a property reaping what it sows positively. In that case, the recent announcement that Stripe has become the new title sponsor of the Young Scientist & Technology Exhibition in Ireland is just that. 

Suppose there was ever a case in sponsorship of a property reaping what it sows positively. In that case, the recent announcement that Stripe has become the new title sponsor of the Young Scientist & Technology Exhibition in Ireland is just that. 

The financial resources to support this partnership are more than obvious as Stripe is headed by co-founders Patrick and John Collison, Ireland’s youngest billionaires. Stripe has become the most valuable company ever created by Irish founders, recently valued at €80.5 billion. So funding the initial five-year contract as title sponsor of the annual exhibition staged in Dublin’s RDS won’t be an issue. 

The connective tissue of advancing STEM in education is also very clear and genuine, given the mandate of the YSTE and Stripe’s business fundamentals as a financial infrastructure enterprise. Leveraging property technologies, AI, and integrated platforms, Stripe helps businesses grow revenue, defend against fraud, and expand their customer offerings. They are one of the darlings of the fintech space. 

With thirty companies competing to replace former title sponsor BT Ireland, the San Frasncio-based Stripe differentiated itself from the other suitors by pledging to honour the legacy and vision of Dr. Tony Scott and Rev Dr. Tom Burke, who created YSTE more than 60 years ago. At the same time, it expressed a clear vision for the future and ensured the event was preserved for generations to come. 

All of the above are hallmarks of great sponsorship, but the connection of the brothers to YSTE in the past is what really stood out for me. In 2005, Patrick Collison, then 16, won for developing a new computer program language, having been runner-up in 2004. He told Irish media outlets, "YSTE is a special institution for John and me, who once won a category award at the event. 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 future generations”. 

This is truly a full-circle moment. It is an opportunity for these founders to not only support an important stakeholder in their journey but also catapult a traditional institution into the future. I often shudder when marketers overuse the term authenticity when describing partnerships; however, in this case, I will write the word for them in bold lettering.