Enterprise Ireland pumps record amount into start-ups

And it plans to keep investing throughout 2017...

Enterprise Ireland invested a record amount in Irish start-ups in 2016 - offering €32m to 229 companies.

This money was provided through Competitive Start Funds (CSF) and High Potential Start-Up (HPSU) funding.

These projects include:

  • 101 new HPSU start-up businesses with the potential to create 10 jobs and €1m in sales within three to four years of starting up
  • 128 new CSFs which injects critical early stage funding into new businesses
  • Over a quarter (28%) were female-led businesses, including 19 new HPSUs and 44 new CSF investment approvals – up from a total of 61 in 2015

  • Over half (53%) the start-ups supported during 2016, were in regions outside of Dublin
  • Investment in seven new Fintech HPSUs and a further 10 Fintech start-ups were supported under a dedicated CSF fund
  • 15 spin-out companies from Higher Education Institutions supported in 2016
  • 33 new start-ups established by overseas entrepreneurs who have moved to Ireland to establish their businesses and include entrepreneurs from Russia, Europe and USA

Enterprise Ireland’s, Orla Battersby, Manager, HPSU Division said that investment is up by 5% and added, "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."

Its 'Build Scale, Expand Reach 2017 - 2020' strategy plans to continue this investment in promising Irish companies.

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