Industry & Business

Start-ups backed by EI to create 1,500 jobs

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Start-ups backed by EI to create 1,500 jobs

February 10
12:42 2016

computer-science-jobsOver 1,500 jobs are to be created across 105 high-potential start-ups (HPSUs) over the next three years supported by Enterprise Ireland, a research shows.

 

HPSUs are start-up businesses with the potential to develop an innovative product or service for sale on international markets and the potential to create 10 jobs and €1m in sales within three to four years of starting up.

The research, presented at the annual Enterprise Ireland Start-Up Investor Day, indicated that 9 out of 10 start-ups surveyed by Amárach Research on behalf of Enterprise Ireland plan to increase staff this year.

Director of global business development at Enterprise Ireland, Kevin Sherry said: “Last year was a record year for Enterprise Ireland supported new start-up companies with the highest number of funding approvals with a total direct Enterprise Ireland investment commitment of €31m in start-ups.”

Speaking about the figures minister for jobs, Richard Bruton said: “The companies supported by Enterprise Ireland under its High Potential Start-Ups programme and Competitive Start Funds are key to our plans. I am delighted that there is a strong regional representation with 47% of the high potential start-ups being from outside Dublin.”

60% expect substantial growth this year, with the main export markets being the UK, Europe and USA.

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