Supported Start-Ups in Ireland Hit Record Level

Enterprise Ireland, the state agency responsible for the development and growth of Irish companies in global markets, invested €32 million in Irish start-ups in 2016 and supported a total of 229 start-up companies, the highest number to date in a single year. Investment was provided in the form of Competitive Start Funds (CSFs) and High Potential Start-Up (HSPU) funding.

Over 400 entrepreneurs and representatives from early-stage businesses, along with the investment and financial community and other stakeholders, convened Feb 9th at Dublin Castle for Enterprise Ireland’s Start-up Showcase 2017.

Enterprise Ireland’s, Orla Battersby, Manager, HPSU Division said the development of companies of scale throughout the country is a key priority for Enterprise Ireland and start-up success is central to the achievement of this. “Last year Enterprise Ireland supported 229 start-ups – which represents an increase of almost 5% on 2015. In addition, we also continued to focus on female entrepreneurship, increasing the number of female-led investments to 63 - a combination of both CSF’s and HPSU’s. In addition to funding, Enterprise Ireland also provides advice, toolkits and peer-to-peer learning platforms, to further equip start-up clients with global ambition, helping them to become investor ready in a shorter timeframe.”

“Our strategy for 2017-2020 is to support more start-ups using innovation as a key driver of competitive advantage to build scale and expand reach to global markets. As part of our mandate to develop and maintain an appropriate funding evironment for early stage companies, Enterprise Ireland continues to help our companies start, innovate and scale, she added.”