Number of jobs and companies supported by Enterprise Ireland in Q1 2011 is significantly up on last year
Minister for Jobs, Enterprise and Innovation Richard Bruton today announced that 310 jobs will be created in high potential start-up companies, which have been supported by Government in the first three months of 2011. The announcement came as part of the Q1 2011 results of Enterprise Ireland’s High Potential Start-Up programme. Both the number of investments and the number of jobs to be created are significantly up on Q1 last year.
"If we are to rebuild the economy and create the jobs of the future 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. In order to achieve this, we must focus on three things:
· reducing costs and red tape,
· improving access to finance,
· and encouraging innovation in every way we can, including through Government supports and ensuring that start-ups can learn from the vast experience of our high-end multinationals here.
"Today’s announcement that over 300 jobs will be created in companies to which supports have been provided by Government in the first three months of the year is very good news. Many of the companies are operating in precisely the innovative sectors the Government is targeting for growth: financial services, life sciences, biotech, online gaming, telecommunications, sustainable energy, medical devices and cloud computing.
"I am determined to build on this announcement and ensure that Government policies are properly targeted to support high potential businesses in Ireland so that we can create the jobs of the future here and grow our way out of our difficulties.
The 17 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.
Commenting on the high level of start up activity so evident this year Greg Treston, Head of High Potential Start Ups at Enterprise Ireland said: 'The environment is strong for export-led new business start ups, and them pipeline of ambitious technology start-ups including an increased number from overseas based entrepreneurs is stronger than ever in 2011. These start-ups will be perfectly timed to catch the upturn in our key export markets while also benefiting from Ireland's improved competitiveness.
Enterprise Ireland's recently launched Competitive Start Fund opens up the access to critical early stage funding, making it easier than ever for young first time entrepreneurs with good ideas to get started'.
'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.
Examples of some of the new projects include:
2PDS Gaming Limited - trading as 2PaperDolls is the brainchild of successful US serial entrepreneurs Louis Ravenet, his wife Andrea Ravenet and Steve McLelland. 2PaperDolls is a social marketing tool that extends the customer relationship with business and brand via fun and engaging mobile games. 2PaperDolls will develop a platform and create entertaining and purposeful games for mobile devices, giving players the chance to interact with friends, community and brand. The company expects to employ 15 and is based in Dublin.
Rose Hill Insurances, Dublin - is being established to provide specialist insurance administration services for multinational customers in a number of international markets. The company plans to create 50 jobs.
Nopsar, Athlone, Co. Westmeath – expect to employ an additional 20 people, providing telecom R&D consultancy services to Chinese company Huawei
Technologies Co. Ltd.
VascoCare Group Limited, Carlow - expect to employ an additional 13 people producing patient positioners for the operating theatre and products for the prevention of decubitus ulcers. The main function is to securely rest the patient's body, head and limbs on an operating table in a comfortable position without the risk of harm to the patient and to reduce the risk of pressure sores.
Radisens Diagnostics Ltd, Cork, - expect to employ 33 people. The company is involved in the development and commercialisation of a medical diagnostic instrument capable of multiple blood testing applications at point of care. Lighthouse BCS – developing innovative financial services for supply chain finance and invoice management for sale worldwide (Dublin)
Innopharma Labs Ltd – Innopharma Labs provide technology and education solutions to the pharmaceutical manufacturing sector. Their image-based process controlling technologies support pharmaceutical manufacturers achieve their goal of enhanced process understanding and control, leading to a greater product quality and patient safety while reducing manufacturing & energy costs (Dublin) Fifth Province Ventures Ltd - mobile location-based social networking platform using wi-fi connectivity (Dublin)
Fort Information Technologies – Fort Technologies software allows data centre operators, service providers, corporates and large institutions to manage complex infrastructure-as-a-service platforms from which Paas,SaaS and other cloud computing offerings can be provided (Dublin)
Trade Facilitate Ltd - Trade Facilitate links the EU SME cross-border trader and their service providers to provide Advance Quality Trade Data in line with the new EU Advance Trade Notification rules on cross-border trade (Dublin)
Sotxtme Limited - Sotxtme is an incentive based text-marketing company that pays consumers to receive relevant SMS text ads and offers advertisers direct access to a profiled, opt-in database of consumers. Consumers sign-up on-line and register their likes, interests as well as where they live and work. This ensures they only receive texts that are relevant to them. They will also be incentivised with a payment ranging from £0.15 to £0.25 per message (Dublin)
Optienergy Ltd – Optinergy are developing a productivity system for wind turbine maintenance (Cavan) Mutebutton Ltd - Development and commercialisation of a medical device for the treatment of tinnitus (Dublin)