merrion street

Jobs Minister Richard Bruton today announced that 70 new jobs are to be created over the next six months in companies supported by the National Digital Research Centre.

The Minister was launching the NDRC annual report, which shows a doubling in the cumulative level of commercial follow-on investment into high potential digital technology companies promoted and supported by NDRC. This follow-on investment has led to a substantial number of new jobs among NDRC backed ventures.

The Minister said:

A central part of the Government’s plan for jobs and growth is creating a powerful engine of indigenous enterprise, and we are particularly targeting high growth sectors such as digital technology for support. Today’s announcement that companies supported by the National Digital Research Centre have created over 220 jobs and will create a further 70 new jobs over the next 6 months is evidence of what is possible in this sector.

Points in the report included:

• Cumulative investment from commercial investors into ventures emerging from NDRC doubled to €9.6 million, building strongly on last year’s figure of €4.8m.
• The valuation of ventures emerging from NDRC has nearly trebled, from €10.1m in last year's report to €28.8m in this report.
• Over 70 projects and businesses have emerged from the NDRC portfolio in the past four years. To date, ventures emerging from NDRC have created 155 new full time jobs and 66 part time jobs (221 jobs), rising from 36 last year. This is over 250 new jobs created through NDRC backed ventures.

The report can be downloaded at http://www.ndrc.ie/annual-reports/.