SmartInvest to create 450 technology-led jobs over five years
6 October 2014 | 0
SmartInvest has launched a $70 million transatlantic investment fund to provide funding for Irish companies to expand into the US and US companies to establish bases in Ireland. SmartInvest will invest in and grow 30 technology-led companies leading to the creation of 450 jobs across Ireland over the lifetime of the fund.
In addition, the rigorous selection process will include mentoring, advice and training for over 300 prospective companies nationally representing some 1,500 employees in the same period.
The SmartStart mentorship accelerator programme has achieved up to three-times invested capital returns on a five-year cycle. SmartStart recently announced the creation of 50 new technology jobs for Co Meath as two of its accelerator programme participants, SWG and MDS Global Technologies committed to establishing their European operations in Kells Technology Centre.
Gerry Moan, CEO, SmartInvest, said: “The SmartInvest fund recognises excellence in Ireland, both as a place to do business and its entrepreneurial spirit. We will work with evolving technology enterprises to address the early stage funding gap and further develop their overall businesses. There is an appetite among investors to capitalise on the opportunities that Ireland and the US offer as places to do business and gateways to large markets. The SmartInvest model of combining capital and expertise will look to develop this two way transatlantic flow of entrepreneurial talent and investment.”
SmartInvest comprises of experienced management professionals from diverse business backgrounds. As well as funding, the SmartInvest team are embedded in fund participant teams, providing on-going mentoring and guidance.