herald

Thursday 16 August 2018

Enterprise body to create 800 jobs

UP TO 800 jobs are in the pipeline through Enterprise Ireland-supported start-up companies over the next three years, Enterprise and Jobs Minister Richard Bruton said at the annual High Potential Start-Up Showcase, a network event for the 80 new high-potential start-up companies the agency helped establish last year.

Between them, these companies will create more than 770 jobs which will push their combined employment to nearly 1,300.

Enterprise Ireland anticipates that the companies will generate total sales of nearly €530m over the same period, with exports accounting for more than 80pc.

Mr Bruton said government had a role to ensure the public sector, as a "significant economic actor" in its own right, takes the lead.

"Government doesn't create jobs, businesses do. But government has a crucial role in the process -- through creating the environment and providing the supports which allow businesses to thrive," he said.

Enterprise Ireland chairman Hugh Cooney said they would be investing more than €120m in 40 new businesses next year.

"Access to funding, in particular, is a critical ingredient for driving a flow of new start-ups," he said. "Very early-stage companies can face difficulties in raising external finance."

Of the 80 businesses credited yesterday, 38 came from the industrial and life-sciences area, 34 from software and services and eight from the food and consumer sector.

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