528 new jobs to be created in Government-supported start-up companies

Quarter three results for Enterprise Ireland-backed high-potential start-up companies show continued rise in number of new companies and jobs

The Minister for Jobs, Enterprise and Innovation Richard Bruton TD today [Wednesday 21st December, 2011] announced that 528 jobs will be created over the next three years in 32 new high potential start-up companies which have been supported by Government through Enterprise Ireland in the third quarter of 2011.

The announcement builds on the 755 new jobs announced earlier this year as part of the Q1 and Q2 results of Enterprise Ireland’s High Potential Start Ups programme, and once again shows an increase in both the number of companies and new jobs, compared with Q3 last year. 

Making the announcement, Minister Bruton said:

“If we are to rebuild the economy and get jobs growing again, we must create an indigenous engine of growth. I have said before that while foreign direct investment must and will remain an important part of our economic strategy, indigenous businesses will be the key to achieving the levels of growth and employment that we need. Enterprise Ireland’s High Potential Start Up programme, which provides support to dynamic, high-growth companies in key sectors, is a central part of my plan to drive success in our indigenous businesses. I was happy to secure an increase in funding for this programme as part of Budget 2012, and I look forward to further expansion in future years.

“Today’s announcement that over 500 jobs will be created in high-growth indigenous companies supported by government in a three-month period is very good news.  For the third quarter in a row, we are seeing an increase in new start ups and job creation in this programme. However we must be highly ambitious in this area, and in next month’s Action Plan for Jobs I will be looking at ways to provide further supports for indigenous businesses so that we can not only attract the next Google to Ireland but also seek to create the next Google in Ireland”.

Commenting on the announcement, Greg Treston, Head of High Potential Start Ups and Scaling at Enterprise Ireland said: ‘In Enterprise Ireland we are very encouraged by the number and quality of export-led new business start ups we are seeing.  These are ambitious companies, with highly innovative products and business development strategies that are successfully building their presence in export markets.  This year we have introduced a series of new Competitive Start Funds and a €10million International Start-Up Fund, all aimed at supporting these entrepreneurs in every way possible to expand, create jobs and contribute to our economic growth.  An increasing number of mobile international entrepreneurs are coming to Ireland as their location of choice to start a new business.  The environment for new business start ups is positive and already the pipeline for 2012 is strong”.

Examples of some of the new projects include:

ENDS

For further information contact:

Conor Quinn, Press Advisor to Minister Bruton, 087-3743783, conor.quinn@djei.ie

Contact details and further information about the companies are available from Eileen Banks

Eileen Banks
Enterprise Ireland,
Press Officer

Eileen Banks
 01 7272805
087 2445814