Chief Executive Officer’s Report (continued)

• Homepage
• Chairman's Statement
• Chief Executive Officer's Report

• Section 1
  Achieving Export Sales
• Section 2
  Investing in Research and Innovation
• Section 3
  Competing Through Productivity
• Section 4
  Starting Up and Scaling Up
• Section 5
  Driving Regional Enterprise

• Membership of the Board & Committees
• Organisation Structure
• Statutory and Other Notices
• Financial Statements
• Office Network

Total Enterprise Ireland financial commitments to companies in 2004 were €75 million. This was made up of €25 million in share capital investment; €33.8 million in R&D, training and other capability building support; and €16 million capital and employment support for capacity expansion.

Enterprise Ireland realised €13.1 million from share sales and redemptions and €1.9 million in dividends from its own equity portfolio during 2004.

Enterprise Ireland has also been involved in supporting Venture Capital Funds since 1994 under two initiatives: the Seed and Venture Capital Measure (Operational Programme 1994 – 1999) and the Seed and Venture Capital Programme (National Development Plan 2000 – 2006). In total, Enterprise Ireland has supported 30 different venture capital funds through commitments of €143 million. This has led to a total of €545 million under management by these funds.

I wish to recognise the flexibility and hard work of Enterprise Ireland staff and in particular their pro-active involvement in the development and implementation of our new strategy. I also wish to join with our Chairman in thanking all our partners in industry and Government for their continued support and assistance. We will be relentless in our efforts to meet and exceed client expectations.

Frank Ryan
Chief Executive Officer

Patrick Molloy (left) Chairman of the Board of Enterprise Ireland with Frank Ryan, Chief Executive Officer.

2004 cost per job sustained (2004 prices). The cost per job is calculated by taking into account all agency expenditure on all firms in the period. Only jobs created during, and sustained at the end of, each seven year period are credited in the calculations.