Introduction
Ladies and Gentlemen, I am delighted to be here today at the launch of WAYRA - a new initiative from Telefónica Digital.
I would like to thank Tony Hanway for inviting me here this morning.
I would also like to acknowledge the contribution of Tony, and his predecessor Stephen Shurrock, to the work of the Next Generation Broadband Taskforce, whose report was launched by Minister Rabbitte last week.
I am delighted that Telefónica, one of the largest telecommunications companies in the world, is making such an important investment in Ireland.
WAYRA
Supporting entrepreneurs and providing a stable and supportive business environment is the route to new jobs and growth.
This is as true for the plucky tech start up as it is for the global multinational.
Therefore it is of great significance that Telefónica have chosen to bring their fantastic WAYRA initiative to Ireland following its launch early last year in South America.
WAYRA is an ambitious, innovative jobs incubator project for technology start-ups.
It can breathe business ideas into life and bring new products and services onto the world market.
Every six months ten technology start-ups will be selected and given their opportunity at the WAYRA Academy which will be housed here on a dedicated floor of the Headquarters of O2.
In addition to receiving an investment of up to €50,000, each new WAYRA Academy company will be supported by the WAYRA team with access to technology tools, business mentoring, guidance on how to market their product and on how to access additional funding.
It is an amazing resource for start up businesses selected to be part of the WAYRA programme to have the experience and resources of Telefónica in addition to access to their worldwide customer base of 300 million.
These link ups between businesses can be critical in the success of early starts and can make all the difference between falling at the first hurdle or going on to become another successful global company.
Economy and Job Creation
Encouraging new innovative tech start ups in Ireland fits perfectly with the job creation priority which remains at the top of the Government’s agenda.
Since we came into office, we have been working hard to create the improved economic conditions which will support the maintenance of existing jobs and the creation of new ones.
Our objective is to put the country back on the road to economic recovery and full employment.
I cannot say it often enough - the role of new enterprises is critical to promoting prosperity through job creation.
Entrepreneurship activity provides the Irish economy with new innovative ideas, rising exports, increased productivity, as well as new jobs.
Our challenge is to ensure that we can support entrepreneurs to turn good ideas into great businesses.
Action Plan on Jobs
I am particularly pleased that WAYRA can play a part in supporting the aims and objectives of the Government’s “Action Plan for Jobs” which was launched in February.
The Government’s Jobs Action Plan, like WAYRA, places innovative businesses right at the heart of the drive to accelerate jobs growth and economic prosperity.
The Action Plan contains a wide range of measures to support new start up companies while improving the environment for all businesses.
It is an action plan that I am driving from my Department. I have only just come from the Cabinet Committee on Economic Recovery and Jobs where we reviewed the progress across Government on delivering the quarter two targets in the Action Plan.
Delivering on this plan will be a major factor in rebuilding confidence and certainty in the Irish economy.
In recent months alone, numerous multinational companies have shown their confidence in Ireland by committing to new investments here that will create thousands of new jobs.
In recent weeks, I have visited companies like Amgen in Dun Laoghaire, Apple in Cork, Transaero in Shannon, and Cisco in Galway, all of whom have decided to hire more employees.
Other recent announcements include: Paypal,1,000 jobs in Dundalk,Apple500 jobs in Cork, Mylan500 jobs in North Dublin, Eli Lilly500 jobs in Cork South West, HP280 jobs in Galway and Kildare, SAP250 jobs in City West, Abbott Pharmaceutical175 jobs in Sligo, Microsoft $130 million investment in Dublin, Cicso115 jobs in Galway, Total Defence,100 new jobs in Dublin.
Conclusion
Ireland’s recovery won’t be achieved overnight.
It will continue to be a challenging path for businesses, Government and people alike.
But with the enterprising spirit being fostered through initiatives such as WAYRA I’m as confident as ever that Ireland will become the best small country in the world in which to do business, and will emerge from these challenging times stronger than ever.
I’d like to wish WAYRA and Telefónica every success in developing this innovative programme.