Enterprise Ireland
Annual Report and Accounts 2005
Annual Report and Accounts 2005
Balanced regional development and national prosperity depend on the creation and growth of world-class Irish companies throughout the country.
Enterprise Ireland works with its State and industry partners to support strongly innovative start-ups and established companies across the country to grow and develop into internationally competitive enterprises. This involves initiatives to encourage entrepreneurship, research and innovation, productivity, export sales and corporate expansion. Enterprise Ireland has a clear priority to stimulate and support this innovation and growth.
The funding offer from Enterprise Ireland reflects the need to boost activity in the regions, with a weighting of support in favour of the Border, Midlands and West region and the South-East and South-West regions. In addition, four of the 15 funds established under the Seed and Venture Capital Programme (National Development Plan 2000-2006), and supported by Enterprise Ireland, have specific regional commitments.
Enterprise Ireland is committed to stimulating and supporting start-ups across all regions. We work closely with local industry and research organisations to stimulate high potential start-ups through a variety of knowledge sharing and networking initiatives at local and national level. Some examples include:
Stimulating regional start-up businesses: A series of First Step seminars, held nationwide, gave 397 potential entrepreneurs information on enterprise support, training and funding options for start-up businesses and introduced them to the EnterpriseSTART programme. This programme, which is supported by FÁS, offers participants a realistic marketplace perspective on what is involved in creating a competitive and sustainable enterprise. Seventy potential entrepreneurs completed the programme in 2005.
Targeting potential entrepreneurs from the third-level sector: Enterprise Ireland continues to work in partnership with the third-level institutions to encourage entrepreneurship and the commercialisation of research. Participants on Enterprise Platform Programmes (EPPs) were supported in developing their innovative technologies into commercially viable businesses. This support resulted in twelve new start-up companies.
Business Angels Partnership: Enterprise Ireland, in partnership with InterTradeIreland and the Irish Business Innovation Centres (BICs), established a two-year pilot Business Angels Partnership programme. This aims to leverage the experience of the three organisations in identifying private sector high net-worth individuals with company development knowledge who are willing to work with start-up enterprises seeking funds of up to €2 million.
