97 High Potential Start-Ups supported by Enterprise Ireland in 2012 aim to employ over 1,600 new staff and to generate over €300m in annual sales within three years. The figures were announced by Small Business Minister John Perry TD speaking at the HPSU Showcase at the Mansion House in Dublin earlier in March.
Minister Perry said: “During the last two years, this Government has delivered a series of measures aimed at putting the best supports in place and creating the right business environment so that indigenous companies can grow their businesses and succeed in export markets. Our priority is to ensure that more high-growth businesses can set up, expand and turn into large employers.
“The establishment of close to 100 new high potential start-up companies in 2012 with support from Enterprise Ireland represents a very significant achievement. These companies make a very considerable contribution to the economy and under the Action Plan for Jobs we are determined that young innovative companies like these are supported to increase their impact on export growth and job creation”.
The Showcase also featured the 60 early stage entrepreneurs who have been supported by the Enterprise Ireland Competitive Start Fund and representatives from the 2012 New Frontiers Entrepreneur Development Programme.
Highlights from the 2012 results include the consumer web and games sector which has seen a dramatic jump in the number of new projects being funded including some international teams relocating to Dublin. There has also been a tremendous response from female entrepreneurs to the Enterprise Ireland female specific initiatives introduced in 2012.
There was also an excellent result from Enterprise Ireland-supported third-level research commercialisation with a big increase in the number of High Potential Start-ups emerging as spin-outs from Irish Universities and Institutes of Technology – 14 this year, up 50% on last year.
Enterprise Ireland defines a 'high potential start up' as a company that is: - Based on technological innovation - Likely to achieve significant growth in 3 years (Sales of €1m per annum and employment of 10) - Export oriented - Led by an experienced team, with a mixture of technical and commercial competencies.
You can download a PDF version of the High Potential Start Up Showcase, Class of 2012, containing contacts details and brief profiles of participating, HPSU, CSF and New Frontier companies here: http://www.enterprise-ireland.com/en/Start-a-Business-in-Ireland/HPSU-Showcase