Reproduced from The Irish Times
By Charlie Taylor, Wednesday, February 19, 2014

As many as 1,850 jobs will be created over the next three years by 122 companies backed by Enterprise Ireland.

The claim was made by Minister for Jobs, Enterprise and Innovation Richard Bruton at an event to mark the publication of the Enterprise Ireland High Potential Start Ups programme (HPSU) 2013.

The report shows that 103 start-up firms received funding from the state body last year, the highest number ever. The majority of the firms to be backed by Enterprise Ireland were in areas including software, cleantech, engineering, medical devices and pharmaceuticals.

Ten of the firms to receive funding last year were spun out of third-level institutions.

The number of female-led firms to receive funding more than doubled over the year from 16 in 2012 to 41 last year on the back of a number of women-specific initiatives.

There was also a rise in the number of overseas entrepreneurs setting up their business in Ireland, with such start-ups now accounting for 15 per cent of all firms to receive backing from Enterprise Ireland.

“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,” said Mr Bruton.

A high-potential start-up is defined as a company that is export oriented, focused on technological innovation and likely to achieve growth of at least €1million per annum over a three-year period, and led by an experienced team.

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