It was announced this week that Enterprise Ireland is set to undertake over 200 international and domestic trade events in 2018 to accelerate the number of Enterprise Ireland clients diversifying into new markets, beyond the UK and into the Eurozone and global markets.
The number of trade events being undertaken represents a 50% increase on 2017, reflecting the serious challenge that Brexit poses for Irish businesses. Seventy of these export focused trade events will be led by Government Ministers and the majority of international trade missions will take place in the Eurozone, North America and Asia Pacific regions, which present the strongest export growth opportunities for Irish companies. Fifty five trade events will be hosted in Ireland.
The trade events will be focused on promoting the innovative capabilities and competitive offers of Irish companies to international buyers, in sectors including internationally traded services, fintech, high-tech construction, engineering, ICT and lifesciences. Enterprise Ireland say this will be critical to helping largely UK focused and Brexit exposed companies find buyers in new markets.
In support of the international trade event programme, Enterprise Ireland has introduced the new Market Discovery Fund to support Enterprise Ireland backed companies when researching new markets for products and services. The new fund is designed to help companies of all sizes to meet the key challenges of market research. There are three levels of funding available to companies: up to €35,000, up to €75,000 and up to €150,000.
Speaking this week, Enterprise Ireland CEO, Julie Sinnamon said, "While consolidating exports to the UK, we have set ambitious targets to increase exports to the Eurozone by 50% by 2020 and for exports to markets outside of the UK to account for two thirds of total exports. Through over 200 international and domestic trade events planned for 2018, Enterprise Ireland will promote the innovative capabilities of our clients in sectors that have been identified as areas of opportunity in global markets."
She added, "This extensive programme of trade events and our network of 33 international offices are essential supports to prepare clients to enter and grow in new markets internationally. Additionally, the new Market Discovery Fund will support clients to research and validate opportunities for products and services in new markets."