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2012 Press Releases

Enterprise Ireland Announces Record Exports of €15.2bn in 2011

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Enterprise Ireland Publishes Annual Report and Accounts 2011

Enterprise Ireland's Annual Report and Accounts for 2011 published today, Wednesday 27th June 2012, show that Enterprise Ireland client companies achieved record levels of exports of €15.2bn in 2011. This exceeds the pre-recession record levels of 2008 and is the highest ever annual export gain achieved by Enterprise Ireland client companies.

The report also shows employment levels in Enterprise Ireland client companies stabilised in 2011 with full-time employment in client companies at 141,228 - a similar number to 2010.

Announcing the results, Frank Ryan, CEO of Enterprise Ireland said:

"The outstanding achievements of these Irish exporters are of huge value and significance to Ireland and are to be strongly commended. The performance of Ireland's exporting sector in overseas markets in 2011 was remarkable in any context, but particularly against the backdrop of a global economic slowdown.

"The impact of this on the Irish economy is enormous. These companies are responsible for the direct and indirect employment of more than 300,000 people in every town and village in Ireland. Indigenous exporters also spent €18.3bn on goods and services in the Irish economy in 2011".

Welcoming the report, the Minister for Jobs, Enterprise and Innovation, Richard Bruton TD said:

"As I have said before, indigenous companies will be central to achieving growth and jobs in Ireland. Indigenous companies provide proportionately three times more benefit to the Irish economy than multinationals, and that is why the Government's plan is focused on creating a powerful engine of indigenous business to create the jobs we need.

"Today's announcement that companies supported by Enterprise Ireland achieved record levels of exports in 2011 is great news, particularly in such a challenging external environment. The news that employment in these businesses has stabilised after a number of difficult years is also welcome. The challenge now is to build on these achievements by targeting further export growth in 2012, particularly in high-growth markets, so that we can achieve substantial jobs growth in the coming years. I am determined that, through rigorous implementation of the Action Plan for Jobs, we will achieve this and ensure that indigenous exporting companies drive a powerful recovery in the Irish economy".

ENDS

Copies of the annual report are available at: www.enterprise-ireland.com/annualreport2011/

For further information contact:

Eileen Banks
Press Officer
Enterprise Ireland
Tel. +353 87 2445814


Enterprise Ireland Annual Report and Accounts 2011 Summary

Among the key achievements as part of Enterprise Ireland's strategy to support Irish businesses in 2011 were:

  • New export sales exceeded €2.14bn.
  • Levels of employment in client companies stabilised. 9,076 new jobs created by client companies while job losses were the lowest recorded in recent years.
  • Enterprise Ireland supported 93 new high-potential start-ups, approving €20.4m in funding, and there were 19 follow-on investments in high potential start-ups, valued at €3m.
  • 484 client companies participated in 42 trade fairs and missions.
  • Leveraging the diaspora in conjunction with Department of Foreign Affairs and Trade.

Research and Innovation

  • 743 client companies engaged in significant R&D projects (spending over €100k per annum).
  • 54 companies were involved in substantial R&D projects (spending over €2m per annum).
  • 518 Innovation Vouchers redeemed.
  • €93m in European Union Research and Technology Development (Framework 7) funding secured for Ireland.
  • The Technology Centre programme, which Enterprise Ireland runs jointly with IDA Ireland, was expanded with the launch of manufacturing and energy efficiency technology centres.
  • Enterprise Ireland's support system for commercialising public-funded research saw 118 pieces of commercially valuable technology being licensed to industry and the creation of 31 new spin-out companies.
  • 139 collaborative R&D projects were undertaken by third level research groups supported by Enterprise Ireland.

Business Funding

  • €22m AIB Startup Accelerator Fund was launched, with €2m investment from Enterprise Ireland, bringing the total to €645m in seed and venture capital funds open for new applicants.
  • 160+ support packages of €100k+ approved for established SMEs and large companies.
  • €10m in angel investments in 33 companies, and 30 international venture investments in client companies.

Management Development

  • 295 CEOs and leaders participated in significant Enterprise Ireland flagship management, leadership, growth and selling programmes; 789 executives took part in short programmes.

Business Development

  • Over 80 Enterprise Ireland backed entrepreneurship programmes took place, providing participants with the business skills, contacts, mentoring and support to potentially transform their innovative ideas or technologies into exporting businesses.
  • 110 clients were teamed with international business accelerators.
  • 347 Irish businesses supported with a mentor from our panels of Irish and overseas mentors.
  • €10m International Fund to attract entrepreneurs from overseas launched.
  • Enterprise Ireland's Management 4 Growth programme to foster exceptional management talent and Enterprise Ireland's pilot leadership network for chief financial officers were launched.
  • Over 170 companies were approved funding for Lean and Green projects, boosting the competitiveness and sustainability of Irish industry.

Other

  • 'Education in Ireland' was launched as the new umbrella brand for the drive to promote Irish education abroad, which is led by Enterprise Ireland, and aims to double the number of international students studying in Irish higher education institutes by 2015.
  • Our first office in South Africa was opened.