Good Morning Ladies and Gentlemen,
I am delighted to be here this morning to mark the latest milestone in Cubic Telecom’s success story. Barry (Napier), thank you for the invitation.
Cubic Telecom is a company whose progress I’ve tracked with great interest over the last number of years. The company’s remarkable achievements since its establishment in 2006 are evidence of what an Irish Start Up can achieve when it has a vision, a great product and a strong leadership team. I had the opportunity to learn more of the company’s achievements during a 2014 trade trip.
This vision and determination has won Cubic a number of significant investments from first class companies in recent years. I’m delighted to see this ambitious Irish company partner with a top class global brand such as Audi to provide connectivity for their cars.
Cubic Telecom is making a reality of the smart connected car.
Merging the latest high speed communications technology with new car designs is the next phase of the evolution of the motor industry.
Cubic Telecom is at the forefront of this technology revolution. I’m delighted that in doing so they are expanding their workforce by an additional 60 people to 140 employees over the coming year.
These jobs are exciting, high end technology roles at the forefront of its industry.
This collaboration with a global player in the motor industry further positions Ireland as a leader in the global communications and technology space.
Enterprise Ireland has put together a cluster of companies around this sector and is building their capabilities and international reach.
The Government, through Enterprise Ireland, has been working closely with and supporting Cubic Telecom for years with support as a high potential start up, management development and strategy, and research and development.
The Irish owned communications and digital content sector is the prominent part of the indigenous software sector, which employs 15,000 people.
This growing sector is a big part of our Action Plan for Jobs which has already added over 175,000 new jobs to the economy since it was launched in 2012.
A major part of that plan is the continued support for the development of the ‘Internet of Things’ which will revolutionise the way technology and equipment talk to each other and our use of them. Connected Cars is one of the stand out areas within the ‘Internet of Things’.
The ‘Internet of Things’ industry combines many key elements of ICT such as software, hardware, sensors, cloud and analytics and is viewed by many as the next wave of technology following the mobile and smartphone revolution.
The Cubic Audi project is one of the most important in the development of the ‘Connected Car’ concept.
This is a very prestigious project to win against very tough competition.
I hope that Cubic Telecom’s success in this sector sends a positive message to all our indigenous companies, large and small.
It is companies like Cubic Telecom that will continue to be the bedrock of Irish industry supporting continued job and export growth across Ireland.
Our country needs innovative companies like Cubic Telecom now more than ever, as we face new challenges such as Brexit and rising international uncertainties.
There are over 80 Government supports available to Irish start-ups and small businesses. The recent Budget contained many measures that will assist business become more competitive and cope with the impact of Brexit including a €3 million Trading Online Voucher Scheme in 2017, a lower 10% rate for the Capital Entrepreneur Relief, and the extension of the Start Your Own Business relief.
These measures will support those people who take a risk to start a business, and those such as Cubic Telecom that continue to take risks in growing and creating jobs.
Everyone at Cubic Telecom should be immensely proud of your achievements. I have no doubt that there are many chapters yet to write in this company’s success story and I wish you every success in the future.
The Government and Enterprise Ireland remain ready and available to support Cubic Telecom’s future growth and I look forward to continuing to track your progress in the coming years.
Thank you.