Entrepreneurial Ireland Entrepreneurial Ireland

Entrepreneurial Ireland

Entrepreneurial Ireland • • • How entrepreneurial is Ireland? Why entrepreneurship is so important for Ireland Where do our entrepreneurs come from? What makes Ireland so entrepreneurial? Optimising Ireland’s entrepreneurship potential

How entrepreneurial is Ireland?

An island of innovators with a global customer base • Ranked #1 country for doing business 2013 by Forbes • Ranked #2 Rate of early stage entrepreneurial in EU-15 • Ranked #9 across the EU-28 • Higher percentage of ‘established entrepreneurs’ as a percentage of population • Higher percentage of start-ups with export dimension (66% in Ireland v 54% european

Entrepreneurial Activity • 15, 200 new businesses started in 2013 (32, 000 entrepreneurs) • Highest level of new business creation since onset of economic downturn • In May 2014 alone 1, 783 companies set-up (av 107 per day) • 93 construction – increase of 48% on May 2013 • A significant proportion of early stage entrepreneurs expect to have a majority of customers outside Ireland

The importance of entrepreneurship • Start-ups create two-thirds of all new Jobs • Exports jobs National and Regional Prosperity • Our mission is to drive indigenous exports, to maximise job creation in Irish companies

Enterprise Ireland - behind export-focussed companies Exports € 18 bn Supporting Entrepreneurs & Ambitious Business owners 5, 000 Indigenous companies 300, 000 Jobs In Ireland

Where do entrepreneurs come from? Most Enterprise Ireland assisted Entrepreneurs come from existing Management Positions within either indigenous firms or Multi-national Companies

MNCs are a rich source of Entrepreneurs • • • Trinity Biotech - Founder Jim Walsh ex Cambridge Diagnostics Eirgen Pharma - Founder Patsy Carney ex Ivax Pharmaceuticals Ireland Socialtram – Founder Gaston Irigoyen ex Youtube and Google Moqom – Founders ex Ericsson Upfront Analytics – Founders are ex Disney AMCS – Founders Jimmy Martin ex Analog Devices and Austin Ryan ex Ericsson Asavie – Founder Ralph Shaw is ex Baltimore Aspire – Founder Bill Walsh is ex Ericsson Aspiracon – Founder Pat Lucey ex Motorola Cloudium - Founder John Hickey ex Avocent Equiendo – Founder Cyril Murphy ex Esat Digifone Cape Technologies – Founder Philip Sharpe ex Ericsson

Overseas Entrepreneurs • • Target marketing campaign, using Diaspora Dedicated € 10 million International Start-Up Fund 17 Entrepreneurs (re)located their start-up to Ireland with EI support in 2013 From UK, US, France, Argentina, Italy, Hungary, Spain, Denmark Half are Irish originally Majority locate in Dublin Majority are in IT sector

Mainstay medical • Medical trialling of an electrode that cures chronic back pain • Established in US but relocated to Ireland • Attracted by favourable regulatory regime in Europe and very strong medical device ecosystem • Supported them with introductions, including to a key manager • Did not need to invest to attract this company • Already gone public (Raised € 18 m through a dual listing on Euronext Paris and the Irish ESM) • Will complete clinical trials and launch the product

B-smark • A service that allows web site owners gauge the emotional reaction of viewers to a website • Italian founders • Attracted because they believe Ireland is one of the best places in the world for a digital start-up • EI invested • Benefited from Irish start-up accelerators • Ambition is to acquire a number of major international consumer brand customers

Platform 1 • Developed software for credit unions and banks • Founders were Irish ex-pats working in IT in international banking, interested in returning home • EI has invested and provided overseas office assistance • Now selling their own software to international banks and credit unions and partnering with early stage financial technology start ups

Ambitious Female Entrepreneurs • EI’s ‘Ambitious Women’ program • Targeted Promotional Campaign • 15 Investments 2013 (7 in 2012) Ø Equilume Ø Eveo Solutions Ø Viddy. Ad

We create Ireland Fostering Innovation Enterprise opportunities • • • Translate expertise, research, Irish Connecting innovative technology and knowledge into jobs, s companies to global customer new businesses, process improvements and new products and services Investing € 87 million in science and technology infrastructure and research Deliver on National Support Network for European research funding, with SFI Introducing investors to expanding companies 8 Tech Gateways, 15 industry-led Tech Centres

Priorities for Enterprise Ireland DELIVER MAXIMUM IMPACT FROM STATE INVESTMENT IN RESEARCH & INNOVATION 1. BUILD COLLABORATION BETWEEN INDUSTRY & HIGHER EDUCATION 2. DRIVE COMMERCIALISATION & COMPANY CREATION 3. BUILD INTERNATIONAL LINKAGES WIN INTERNATIONAL FUNDING 4. SUPPORT IN-COMPANY R&D AND CAPABILITY BUILDING Increase in number of technologies licensed by HEIs from 12 p. a. 2005 to 119 in 2013

Open Innovation – in practice

What makes Ireland so entrepreneurial?

Underlying strengths: Ireland ranks 15 th out of 185 economies in terms of ‘ease of doing business’ – highest ranked euro area country IMD World Competitiveness 2013 ranks Ireland: • 1 st for flexibility and adaptability of workforce • 1 st for attitudes towards globalisation • 2 nd for unit labour costs in manufacturing sector (% change) • 3 rd for availability of skilled labour

START IN IRELAND, TAKE ON THE WORLD • Innovative culture • Global Reach, enhanced by presence of MNCs • World-class start-up eco-system • Funding • Pro-business Government

A nation with global reach Irish goods and services are sold on every continent € 18 bn value of Irish exports 2013 Irish innovation is changing lives all over the world everyday

An island where global business thrives

World-class eco-system Proven mentors, professional advisors and International Accelerators

Funding - for all stages

Pro-business government LEOs

Quality of life

Optimising Ireland’s Entrepreneurial Potential

• The things that made Ireland great still exist • Doors are open for Ireland in international markets • Irish innovation is changing the lives of ordinary people all over the world everyday

Tell stories of Irish success • Irish software powers visitor access control points at the Houses of Parliament in London, (Irish software company TDS) • Software developed by Saadian helps the British police to know when prisoners are being released • Irish eye recognition software is used by the FBI at their border control points (Daon)

• Irish technology company Pix. Alert, protects data and identity of global corporations • Technology developed by Trusdev, verifies identities of millions of online customers worldwide • Technology developed by Zutec was used to build an Asset and Snagging Register in the construction of The Shard, London

First ever, solar-powered, climate-controlled football stadium Qatar 2022 World Cup Mercury Engineering in Dublin

Radissens Diagnostics in Cork First to enable blood analysis aboard the European Space Station

Irish medical device companies lead the world in innovation, quality and performance. Aerogen developed the world’s first aerosol vaccination device

Ireland in 2014 More experienced than ever, with a modern dynamic economy More capable than ever, with a highly skilled workforce More accomplished than ever – Irish innovation is changing lives all over the world, every day Now, is the time, to do business with Ireland

Be part of the great Irish entrepreneurship movement