It was announced today that Enterprise Ireland, the state agency responsible for the development and growth of Irish companies in global markets, invested €23 million in Irish start-ups in 2018 and supported a total of 132 start-up companies.
Investment was provided in the form of equity through Competitive Start Funds (CSFs) and High Potential Start-Up (HPSUs) funding programmes by the Department of Business, Enterprise and Innovation through Enterprise Ireland.
Start-ups supported by Enterprise Ireland in 2018 include:
82 High Potential Start-Ups – start-up businesses with the potential to create 10 jobs and €1million in sales within three to four years of starting up
50 Competitive Start Funds (CSFs) – critical early stage funding into new businesses to accelerate growth
28 new female-led HPSUs
15 new fintech HPSUs and a further five fintech start-ups were supported under a dedicated CSF fund
15 spin-out companies from higher education institutions
26 additional HPSUs which received follow-on investment funding as their businesses scaled.
Speaking this week, Joe Healy of Enterprise Ireland said, "Enterprise Ireland’s strategy for 2017- 2020 is to support more start-ups with global ambition to build scale and expand reach. Now at the halfway mark into our four-year strategy, we are on course to meet the ambitious target of creating 60,000 new jobs by the end of 2020. Key to reaching this target is cultivating an environment for more entrepreneurs to develop their business and succeed."