Enterprise Ireland expects 1,500 new jobs to be created, over the next three years, by high potential start-up companies.
A high potential start-up (HPSU) is defined as a company that is based on technological innovation, is export oriented, is likely to achieve significant growth in three years (i.e. sales of €1m per annum and employment of 10 people), and, is led by an experienced team.
Up to 1,500 new jobs are to be created over the next three years by HPSU companies backed by Enterprise Ireland. The announcement was made today at an event to highlight details of the new start-up businesses to which Enterprise Ireland has directly committed investment and support in 2014.
81 new early stage businesses were also supported under the Enterprise Ireland Competitive Start Fund in 2014. The fund injects critical early stage funding into new businesses.
The impact of these new companies is visible countrywide, across a range of business sectors including Engineering, Software and services, Medical devices and Pharmaceuticals, Cleantech, Food and Consumer products.
The sectoral breakdown of the 102 high potential start-up companies and 81 CSF supported is as follows:
- 67 Software and services companies - 55 benefitting from the Competitive Start Fund (CSF)
- 20 engineering and cleantech companies - 11 high performance start-up companies and a further 9 benefitting from the Competitive Start Fund
- 16 Food and consumer product companies and a further 14 benefitting from the Competitive Start Fund
- 8 medical Devices and Pharmaceutical companies and 3 benefitting from the Competitive Start Fund
43 new female-led start-ups were supported, the highest number ever. Enterprise Ireland expanded its ambitious programme to drive an increase in the number of new businesses being established by female entrepreneurs in 2014. 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.
Speaking at the announcement, Richard Bruton TD Minister for Jobs, Enterprise and Innovation, said 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 and a new network of Local Enterprise Offices to support more start-ups”.
“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,” he concluded.
The full Press release is available here
The CareersPortal Team