Enterprise Ireland
Annual Report and Accounts 2005
Annual Report and Accounts 2005
In 2005, client companies reached an impressive €1.275 billion in new export sales. This success comes in the first phase of a three-year plan with a target of €3 billion by year-end 2007. This is a very positive and encouraging outcome and represents a strong performance by Irish companies.
This remarkable growth reflects the ability of Enterprise Ireland’s clients to adapt to changing market conditions where competition on quality and service is paramount. During 2005, Irish companies took advantage of moderate growth in world economies and new export opportunities. The United States economy continued to improve and important European markets, such as Germany, showed signs of resurgence. The dynamic Asian markets such as Japan and China offered new export opportunities.
At the core of our clients’ success is a commitment to developing a deep understanding of the needs of overseas customers and exploiting growing market opportunities through innovation in research and development. Irish companies are increasing their productivity and responding with sophisticated products that win on quality and service. We strongly support them as they drive forward with ambition and innovation.
Significant Progress against Three-Year Targets
In 2005, the Minister for Enterprise, Trade and Employment, Mr. Micheál Martin TD launched Enterprise Ireland’s new strategy, Transforming Irish Industry, with five key targets to support the development of indigenous industry to year-end 2007. These ambitious targets set out a challenging undertaking for our staff and clients.
I am pleased to announce that we have made significant progress against these targets, due to the achievements of our clients.
| 1. | €3 billion in new export sales by year-end 2007 €1.275 billion in new export sales in 2005 |
|---|---|
| 2. | Increase to 596 the number of firms engaged in meaningful R&D (€100,000+) by 2007 (With an overall target of 1,050 by 2013) 515 companies are engaged in R&D projects (€100,000+ investment) |
| 3. | Increase to 42 the numbers of firms engaged in significant R&D (€2m+) by 2007 (With an overall target of 100 by 2013) 33 companies are engaged in significant R&D projects (€2m+ investment) |
| 4. | Support the creation of 210 new high potential start-up companies nationwide by year-end 2007 75 new start-ups supported in 2005 |
| 5. | Drive export readiness by implementing Productivity and Competitiveness Improvement Projects in 300+ firms by year-end 2007 39 projects funded |
