merrion street

Minister for Jobs, Enterprise and Innovation Richard Bruton TD today

[Wednesday] announced that 445 jobs will be created in 24 new high potential start-up companies which have been supported by government through Enterprise Ireland in the second quarter of 2011.

The announcement follows on the 310 new jobs announced earlier this year as part of the Q1 results of Enterprise Ireland’s High Potential Start Ups programme, and compares to 284 jobs in 20 companies during Q2 last year.

Making the announcement, Minister Bruton said: "If we are to rebuild the economy and create the jobs of the future in Ireland, we must not only continue to attract high-end multinational companies, but we must also crucially ensure that more high potential small businesses can establish and expand here. Yesterday I announced that PayPal was adding 200 jobs to our base of employment in world-leading internet companies; but we also need an indigenous engine of economic growth if we are to create the successful future we all want for Ireland.

"In order to achieve this, we must focus on three things:

· reducing costs and red tape;

· improving access to finance; and

· promoting an Irish innovation revolution, including through government supports and ensuring that start-ups can benefit from the vast experience of our multinationals.

"Today’s announcement that over 400 jobs will be created in indigenous companies supported by Government in the second quarter of the year is very good news. Many of these companies are operating in precisely the innovative sectors that the Government is targeting for growth: clean tech, life sciences, ICT and financial services. This comes on the back of Ireland’s continued improvement in world innovation rankings – 13th in the 2011 Global Innovation Index, up from 19th in 2010.

"My plan to create an indigenous engine of economic growth will ensure that Government actions are directed towards ensuring that more companies like these can establish and grow and provide the basis for Ireland’s economic recovery".

Commenting on the announcement, Greg Treston, Head of High Potential Start Ups and Scaling at Enterprise Ireland said: ‘These 24 companies come from a broad range of sectors, confirming that there are significant opportunities for new export-focussed business start ups, particularly in life sciences, bio-tech and medical technology, cleantech, food, telecommunications, internet services and other niche areas. Enterprise Ireland is working closely with these companies in building their business and their international market presence. These are ambitious companies, with highly innovative products and business development strategies that will enable them to carve out a place in global markets, driving jobs and export sales growth at home’.