Enterprise Ireland-supported start-ups to deliver over 500 jobs in three years

Quarter three results for Enterprise Ireland-backed high-potential start-up companies show continued rise in number of new companies and jobs

Minister for Jobs, Enterprise and Innovation Richard Bruton (pictured) has announced that 528 jobs will be created over the next three years in 32 high potential start-up companies supported Enterprise Ireland in the third quarter of 2011.

The announcement builds on the 755 new jobs announced earlier this year as part of the Q1 and Q2 results of Enterprise Ireland’s High Potential Start Ups programme.

Making the announcement, Bruton said: "If we are to rebuild the economy and get jobs growing again, we must create an indigenous engine of growth. I have said before that while foreign direct investment must and will remain an important part of our economic strategy, indigenous businesses will be the key to achieving the levels of growth and employment that we need… Today’s announcement that over 500 jobs will be created in high growth indigenous companies supported by government in a three-month period is very good news. For the third quarter in a row, we are seeing an increase in new start ups and job creation in this programme. However we must be highly ambitious in this area, and in next month’s Action Plan for Jobs I will be looking at ways to provide further supports for indigenous businesses so that we can not only attract the next Google to Ireland but also seek to create the next Google in Ireland".

Commenting on the announcement, Greg Treston, Head of High Potential Start Ups and Scaling at Enterprise Ireland said: "This year we have introduced a series of new Competitive Start Funds and a €10 million International Start-Up Fund, all aimed at supporting these entrepreneurs in every way possible to expand, create jobs and contribute to our economic growth. An increasing number of mobile international entrepreneurs are coming to Ireland as their location of choice to start a new business. The environment for new business start ups is positive and already the pipeline for 2012 is strong."

Companies supported by the programme include payments solution provider BoxPAY; medical technology companies Innovation Zed, Clinical Support Information Systems and Trimod Therapeutics; and ICT analytics firm Profitero.

TechCentral Reporters

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