Why Start Your Business in Ireland?
A hotbed of entrepreneurship and international business, Ireland is at the heart of the European Union, is a great place to live and work.
As a country with a strong entrepreneurial spirits, there are many benefits to starting your business here in Ireland and none more so than the fact that Enterprise Ireland invests in approximately 200 start ups each year… the next one could be yours.
Key reasons to start your business in Ireland:
- Access to a young, highly educated and highly skilled workforce
- Vibrant venture capital community for companies located in Ireland
- Voted best country in Europe for doing business
- Location, location, location – a key gateway to Europe, Middle East and the Americas
- Extremely attractive cost base
- Great quality of life
International entrepreneurs planning to locate their next business in Ireland should note that Enterprise Ireland does not financially incentivise businesses to relocate to Ireland. The type of supports that Enterprise Ireland offers are more focused around equity investment on a matched funding basis once the Headquarters is established in Ireland.
The Irish start-up landscape is enriched by many sources of start-up support both financial and non-financial. Enterprise Ireland offers support through our High Potential Start Up (HPSU) programme, provided you satisfy the following criteria:
- Introducing a new or innovative product or service to international markets.
- Involved in manufacturing or internationally traded services.
- Capable of creating 10 jobs in Ireland and realising €1 million in annual sales within 3 of starting up.
- Led by an experienced management team.
- Headquartered and controlled in Ireland.
- Less than five years old from the date of your company’s registration.
Enterprise Ireland supports include.
- Competitive Start Fund (CSF) If you are at proof of concept stage and have a Minimum Viable Product (MPV) then you might consider the CSF. CSF is applied for on-line and offers €50k for 10% of your company’s equity. The fund is designed to accelerate the development of companies by supporting them to achieve commercial and technical milestones. The fund is open for applications several times throughout the year with themed calls made for specific sectors and international entrepreneurs.
- Innovative High Potential Start-up (iHPSU) Fund If you are further along and considering raising a pre-seed or seed funding round the innovative High Potential Start-up Fund allows Enterprise Ireland to offer equity investment to start-ups, on a co-funded basis to support the implementation of a company’s business plans. First time and follow-on equity investments in HPSUs are supported under this offer. For more details and to apply consult here
Other useful reference sources include: