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1,800 new jobs from Irish start-ups

Wednesday, February 19 07:37:39

Over 1,800 new jobs have been promised over the next three years by more than 120 young - mostly technology based - companies here.

The businesses are all part of Enterprise Ireland's High Potential Start-Up programme, which is due to publish its results for 2013 today.

Each year the Department of Jobs, through Enterprise Ireland, invests funding in start-up businesses considered to have high potential.

These so called HPSUs are defined as being export oriented, focused on technological innovation, likely to achieve significant growth in three years and led by an experienced team.

Last year a record 103 new HPSUs received investment from Enterprise Ireland. 80pc were in software, cleantech, engineering, medical devices or pharmaceuticals.

41 of the businesses were led by women, while ten were spun out of third level institutions according to RTE News.

Living up to their high potential tag, those 100 businesses and 20 other HPSU's supported by Enterprise Ireland in previous years, claim that over the next three years they will create a total of 1,850 jobs.

Minister for Jobs Richard Bruton said the jobs growth showed the Government's plan to build a powerful engine of Irish enterprise alongside the multinational sector was working