Download Julie Sinnamon OI2 Conference

Entrepreneurial Ireland
Entrepreneurial Ireland
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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
€18bn
Supporting
Entrepreneurs &
Ambitious Business
owners
5,000
Indigenous
companies
300,000
Jobs
In
Ireland
Where do entrepreneurs come
from?
15%
39%
12%
Indigenous
MNCs
3rd Level
Overseas
34%
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
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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
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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 €18m 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
Platform1
• 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)
 Equilume
 Eveo Solutions
 ViddyAd
We create opportunities
Enterprise
Ireland Fostering Innovation
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Translate
expertise,innovative
research, Irish
Connecting
technology
and knowledge
jobs, s
companies
to globalinto
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
Introducing
investors
to SFI
expanding companies
8 Tech Gateways, 15 industry-led Tech
Centres
Priorities for Enterprise Ireland
DELIVER MAXIMUM IMPACT FROM STATE INVESTMENT
IN RESEARCH & INNOVATION
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BUILD
COLLABORATION
BETWEEN
INDUSTRY &
HIGHER EDUCATION
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DRIVE
COMMERCIALISATION
& COMPANY
CREATION
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BUILD
INTERNATIONAL
LINKAGES
WIN INTERNATIONAL
FUNDING
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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 15th out of 185 economies in terms of ‘ease of doing business’
– highest ranked euro area country
IMD World Competitiveness 2013 ranks Ireland:
• 1st for flexibility and adaptability of workforce
• 1st for attitudes towards globalisation
• 2nd for unit labour costs in manufacturing sector (% change)
• 3rd 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
€18bn 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
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Irish software powers visitor access
control points at the Houses of
Parliament in London, (Irish software
company TDS)
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Software developed by Saadian helps the
British police to know when prisoners are
being released
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Irish eye recognition software is used by
the FBI at their border control points
(Daon)
• Irish technology company PixAlert,
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