26 New High Value Jobs to Be Created

Donseed Receives Investment from AIB Seed Capital Fund

"Unique business solution and scalable business model mean significant growth potential"-Minister Martin

Today (30th January 2008) Minister for Enterprise, Trade and Employment Micheál Martin T.D. announced that Tralee-based company Donseed Ltd is to invest €1.2m to accelerate international growth.  The €1.2m investment, with support from Enterprise Ireland and the AIB Seed Capital Fund, will enhance the company's in house R&D and Sales functions and create 26 new high-value positions at the company over the next two years.

Donseed provide web-based workplace management solutions to the construction, retail and energy sectors. Donseed's solutions enable customers to track real time attendance, eliminate time leakage, reduce costs by reducing administration, track health and safety compliance and enable the contract teams to share project information in a secure environment. The company is working with construction companies in over 100 sites across Ireland and the UK.

Making the announcement Minister Martin said:

"I am delighted to announce this €1.2m investment by Donseed Ltd and the creation of 26 new high value jobs, primarily in Tralee. With support from Enterprise Ireland, Donseed has developed a unique workplace management service for the international construction sector and has significant future growth potential. The company illustrates the potential for innovative Irish companies to become world leaders, by anticipating and responding to international market opportunities".

"The company's growth and the 26 new high-value jobs, which include a combination of R&D, technical support and sales roles, will also bring benefits to the wider local economy. The company's choice of location is a significant endorsement for Tralee and the Kerry Technology Park," he added. 

Commenting on the investment, Tom Hayes, Head of High Potential Start-Ups at Enterprise Ireland said:

"Donseed represents the new breed of innovative and scalable high potential start-ups that Enterprise Ireland is keen to support. Blending software and services, the company provides a complete solution to an international customer base, including companies such as Whessoe Oil & Gas (UK), Lancsville Construction Ltd (UK) and Precision Construction Ltd (IRE).  Enterprise Ireland's international offices are working closely with Donseed to develop new international sales leads for the company and to support new market entry, particularly in the Middle East and U.S."
Vincent Lynch, CEO of Donseed added:

"Donseed's unique web based workplace management solutions have enabled customers to achieve significant cost savings and operational efficiencies without the need for investment in IT infrastructure.  We are making this €1.2m investment to capitalise on our successes to date and to accelerate our expansion into additional markets and sectors, in line with our strategic growth plans. This expansion plan will lead to the creation of an additional 26 jobs over the next two years, primarily at our headquarters at Kerry Technology Park, Tralee.

"Our investment is enabled through the support of Enterprise Ireland and a €500,000 venture capital funding from the AIB Seed Capital Fund. This fund is co-managed by Enterprise Equity.  This is the first investment by the AIB Seed Capital Fund," he added.

Frank Walsh, Investment Executive, Enterprise Equity commented:

"We are delighted to be associated with Donseed, a company with a strong management team, experienced board and a proven ability to deliver operational and financial results".

--ENDS--

For Further Information Contact:

Sarah O'callaghan Press Officer, Enterprise Ireland Tel: +353 (0) 1 808 2755