Monday, 24 February 2014

1850 new jobs to be created over next three years by 122 High Potential Start Up companies supported by Dept of Jobs through Enterprise Ireland

1850 jobs will be created over the next three years by 122 High Potential Start-Up companies supported by the Department of Jobs through Enterprise Ireland, the Minister for Jobs, Enterprise and Innovation announced today.

Minister Bruton was speaking as he announced the results of the Enterprise Ireland High Potential Start Ups programme 2013, which showed that:
  • 1850 new jobs will be created over the next three years by 122 High Potential Start Up companies
  • 103 new High Potential Start Up companies received investments from Enterprise Ireland during 2013, the highest number of new HPSUs supported during a single year and ahead of target
  • 41 female-led HPSU projects won investments during 2013, a major rise from 16 in 2012, as a number of women-specific initiatives by EI showed results
  • 2013 also saw a rise in the number of overseas entrepreneurs setting up their businesses in Ireland, and overseas projects represent 15% of the HPSU class of 2013
The showcase also features the 85 early stage projects supported during the year under Enterprise Ireland’s Competitive Start Funds, and representatives from the 2013 New Frontiers entrepreneur development programme.
Speaking at the launch Minister Bruton said: “At the heart of the Government’s Action Plan for Jobs is our determination to support a powerful engine of Irish enterprise alongside the successful multinational sector we have built up. We have put in place a number of new initiatives to deliver on this, including extra resources to support companies in overseas markets and a new network of Local Enterprise Offices to support more start ups. The Enterprise Ireland High Potential Start Ups programme is a key part of our plans. This is the programme that identifies the companies that could be the world-class Irish businesses of the future.
“The results published today show that the HPSU programme goes from strength to strength, with more companies, more overseas companies, more female-led companies, and more jobs than previous years. Enterprise Ireland deserves real credit for these achievements. I wish each of these companies every success for the future, I commend them on their achievements, and I look forward to seeing them grow into world-class companies of scale, creating the jobs we need”.
Lisa Vaughan, Enterprise Ireland Head of High Potential Start Ups and Scaling added: “The Action Plan for Jobs gives a clear mandate to Enterprise Ireland to drive entrepreneurship and new business start-ups. 2013 was a very strong year with many highlights, including the big increase in female led start ups and the strong showing of new start ups from overseas and spin-outs from Irish Universities and Institutes of Technology.
“All the companies here today have the potential to grow rapidly and become significant exporters. These companies play a really significant part in stimulating local economies and employment. The push now must be to help these young companies to realise their full potential to achieve significant scale and become major international businesses in markets across the globe”.