1500 jobs will be created over the next three years by 102 High Potential
Start-Up companies supported by the Department of Jobs through Enterprise
Ireland, the Minister for Jobs, Enterprise and Innovation Richard Bruton TD
announced today (Wednesday).
The Minister was speaking at an event to announce details of the new
start-up businesses to which Enterprise Ireland directly committed
investment and supported in 2014. The impact of these new start-ups is felt
right across all regions in Ireland and across a wide range of business
sectors including software and services, medical devices and
pharmaceuticals, cleantech, engineering, food and consumer products.
Minister Bruton was speaking as he announced the results of the Enterprise
Ireland High Potential Start Ups programme 2014, which showed that:
· 1500 new jobs will be created over the next three years by the new
102 High Potential Start-Up companies.
· In addition, 81 new early stage businesses were supported under the
Enterprise Ireland Competitive Start Fund in 2014, which injects
critical early stage funding into new businesses.
· 43 new female-led start-ups supported, the highest number ever. Last
year Enterprise Ireland expanded its ambitious programme to drive an
increase in the number of new businesses being established by female
entrepreneurs. New initiatives during the year included the
development of a dedicated female accelerator programme and the
launch of Enterprise Ireland’s first peer-to-peer online networking
platform for female-led companies.
· 16 spin-out companies from higher education institutions were
supported in 2014. These businesses are built on publicly-funded
research to become new HPSUs.
· 12 new food and drinks start-ups, the highest number ever. A feature
of these projects is the high number of female promoters involved,
and their wide regional spread.
· 14 new start-ups established by entrepreneurs from overseas,
involving a range of sectors and with founders who have moved to
Ireland to establish their businesses from Singapore, India,
Switzerland and Germany.
The event also features representatives of the Enterprise Ireland funded
New Frontiers programme, Ireland’s national entrepreneur development
programme delivered at local level by the Institutes of Technology and
funded and managed by Enterprise Ireland.
Speaking at the announcement Minister Bruton said: ‘At the heart of the
Government’s Action Plan for Jobs is creating a powerful engine of Irish
enterprise, that will accelerate jobs growth in towns and villages right
across the country. We are constantly reviewing the needs of entrepreneurs
and businesses and developing new initiatives to assist new start-ups,
including extra resources to support companies in overseas markets, a new
network of Local Enterprise Offices to support more start-ups, and the
recently launched Action Plan for Jobs - Regional. The companies supported
by Enterprise Ireland under its High Potential Start-Ups programme and
Competitive Start Funds are key to our plans. These are the new ambitious
promoters that will go on to become part of the growing number of
internationally trading Irish companies that each year are increasing Irish
exports and creating new Irish jobs – with some ultimately developing into
the large employer Irish multinationals of the future. Today’s announcement
that 102 fast-growing companies who we have supported will create 1500 jobs
over the next 3 years is a great boost and further evidence of what is
possible in this area’.
Enterprise Ireland’s Kevin Sherry, Manager HPSU and Growth Engagement,
added: ‘All of these companies here today have the ambition and potential
to grow rapidly and become significant exporters. Enterprise Ireland is
clear in its ambition and strategy as set out in the Government’s Action
Plan for Jobs to provide the impetus and supports that these companies need
to realise their full potential and achieve significant scale. Enterprise
Ireland congratulates all of the founders of each of these exciting new
companies and is fully committed to assisting them develop and grow their
businesses’.
ENDS
Note: Photos will be syndicated by Fennell Photography or are available on
request.
For further information contact:
Press Office, Department of Jobs, Enterprise & Innovation - Ph: 01-6312200;
e-mail: press.office@djei.ie
Eileen Banks, Press Officer, Enterprise Ireland, T: 01-7272805, M:
087-2445814, eileen.banks@enterprise-ireland.com
EDITORS’ NOTE: BACKGROUND INFORMATION
A 'high potential start up' (HPSU) is defined as a company that is:
- Based on technological innovation
- Likely to achieve significant growth in 3 years (Sales of €1m per annum
and employment of 10)
- Export oriented
- Led by an experienced team, with a mixture of technical and commercial
competencies.
Sectoral, Regional & County Breakdown
Sectoral Breakdown HPSU & CSF Companies 2014
Sector |HPSU |CSF
----------------------------------------------------+-------------+-------------
Software and Services |67 |55
----------------------------------------------------+-------------+-------------
| |
Cleantech and Engineering |11 |9
----------------------------------------------------+-------------+-------------
| |
Food and Consumer Products |16 |14
----------------------------------------------------+-------------+-------------
| |
Medical Devices & Pharmaceuticals |8 |3
----------------------------------------------------+-------------+-------------
| |
Total |102 |81
Regional Distribution HPSU & CSF Companies 2014
| |
Region |HPSU |CSF
----------------------------------------------------+-------------+-------------
| |
Dublin |58 |49
----------------------------------------------------+-------------+-------------
| |
Mid East (Kildare, Meath, Wicklow) |6 |4
----------------------------------------------------+-------------+-------------
| |
South & South East (Cork, Carlow, Kilkenny, |18 |11
Waterford, Wexford, Tipperary South) | |
----------------------------------------------------+-------------+-------------
| |
Border (Cavan, Donegal, Leitrim, Louth, Monaghan, |5 |3
Sligo) | |
----------------------------------------------------+-------------+-------------
| |
West (Galway, Mayo, Roscommon) |5 |5
----------------------------------------------------+-------------+-------------
| |
Mid-West (Clare, Kerry, Limerick, Tipperary North) |9 |6
----------------------------------------------------+-------------+-------------
| |
Midlands (Laois, Longford, Offaly, Westmeath) |1 |3
----------------------------------------------------+-------------+-------------
| |
Total |102 |81