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Bruton welcomes strong employment growth in venture capital backed business

Enterprise Minister Richard Bruton today opened the

InterTradeIreland Venture Capital Conference

in Dublin, an event bringing together business representatives for investors with access to over €250 million for new ventures.  Speaking at the conference Minister Bruton said,

Employment in venture capital backed businesses has grown at a phenomenal 18% per year since 2003 and countries with a strong VC sector have been slower to enter and quicker to exit recession than others.

While the sector in Ireland is strong and Government supports are working well, there is no room for complacency and my Department is developing plans to ensure all supports are properly targeted so that the sector can flourish and maximise jobs and growth.

Speaking at the event, Paul Kerley, former CEO of Norkom Technologies, noted that the high value of Foreign Direct Investment now being attracted into Ireland has set the country on a level not seen since the 1990s.  While three quarters of Venture Capitalists surveyed at the conference forecast that the companies to benefit from VC funding over the next year will be in the digital, social media and ICT space.

You can listen to the Minister's full speech below.

Click here to read the full Press Release