Enterprise Ireland high potential start-ups could create 1,600 jobs in three years
Government-supported businesses to generate €200m of sales
TechTrade | 29 Feb 2012 :
The Minister for Jobs, Enterprise and Innovation Richard Bruton (pictured) today opened the Enterprise Ireland High Potential Start Ups Showcase. The event featured 92 companies supported by Enterprise Ireland in 2011, which between them aim to employ over 1,600 new staff by the end of 2013 and to generate over €200 million in annual sales within three years.
The event gives these companies and entrepreneurs an opportunity to network and showcase their businesses to a wide cross section of the banking, venture capital, entrepreneurial and business community.
Minister Bruton said: "If we are to rebuild our economy, and create the jobs of the future in Ireland, we must not only continue to attract more high-end multinational companies, but we must also crucially ensure that more high-growth small businesses can establish, expand and turn into the large employers of the future.
"Today's news that indigenous companies supported by Government on this programme during 2011 will create over 1,600 jobs in 3 years is very welcome, as is the fact that the number of HPSUs supported has come in well over target. This programme is a crucial tool at the disposal of Government in our strategy for job-creation, and the range of dynamic businesses on show here today, most of them in key sectors that the Government is specifically targeting for jobs growth in the coming years, is highly encouraging... Under the Action Plan for Jobs we have committed a series of ambitious targets, including supporting 95 of these companies in 2012, an increase of 50% in the number of overseas entrepreneurs supported and an increase of 40% in the number of new HPSUs arising as spin-outs from research."
Hugh Cooney, chairman of Enterprise Ireland, said: "Today's Showcase event is highly encouraging and in Enterprise Ireland we are determined to support these entrepreneurs in every way possible to expand, create jobs and contribute to economic growth. Initiatives such as the Competitive Start Fund providing critical early stage financing to entrepreneurs, and the €10 million International Start-Up Fund for overseas entrepreneurs to locate start-up businesses in Ireland, are already paying dividends."