Enterprise Ireland
Annual Report and Accounts 2007
Annual Report and Accounts 2007
In 2007 Enterprise Ireland clients gained €1.445 billion in new export sales, contributing to total export sales of €13.181 billion.
The organisation’s drive towards achieving the top-line new export sales figure was underpinned by a strong commitment to creating, growing and facilitating the internationalisation of Irish companies.
Enterprise Ireland took further major steps in the internationalisation of Irish companies in 2007 by helping them to establish a more permanent presence in overseas markets. Many Irish enterprises are moving beyond traditional exporting and engaging globally by setting up in-market sales offices, customer service operations and acquiring distribution channels and production facilities. Overall more than 220 such operations were established in 2007. In addition there was an increase in the number of companies engaged in outward licensing and strategic alliances.
Since 2005 Irish companies have increasingly used overseas acquisition as an important mode of international expansion. Acquisitions can provide access to existing markets through the customer base of the acquired company. The logistical difficulties of shipping product around the world or the need for technology companies to gain market share quickly has intensified this trend. An international acquisition strategy has enabled Irish firms to acquire new products, brands, technology and skills, thus augmenting domestic operations in Ireland.
To support internationalisation, staff in Ireland and in our network of international offices work with companies in cross-market sectorally aligned teams to provide customised and coordinated support for clients at all stages of international market development. This wide support ranges from helping new exporters validate market opportunties and secure first sale reference customers, to supporting clients in establishing an in-market presence and providing advice on acquisition and partnering strategies.
In 2007 the organisation initiated a total of 7,724 client-buyer meetings, and 405 significant sales contracts with a total value of €633 million were signed with Enterprise Ireland input. Irish companies also established 224 new market presences overseas. We appointed 52 in-market business accelerators (industry experts within a specific sector) and 31 international mentors to provide expertise, advice and access to key decision makers for clients targeting particular export markets.
