Dáil Éireann Debate, Tuesday - 25 March 2014
452. Deputy Stephen S. Donnelly asked the Minister for Jobs, Enterprise and Innovation the reason the number of high potential and early stage start-ups to be supported by the State, as per Action 12 of the Action Plan for Jobs, has been set at 155; the way this figure was calculated; and if he will make a statement on the matter. [13157/14]
View answerThe Action Plan for Jobs gives a clear mandate to Enterprise Ireland to drive entrepreneurship and new business start-ups. In direct response to the demands of entrepreneurs and client companies, Enterprise Ireland has continued to introduce new initiatives to provide the right support at the right time, at all stages along the start-up journey. From initial steps, developing the idea, testing the market, and on to raising HPSU funding, the priority is to support Irish entrepreneurs while they build strong and innovative new export businesses, and create jobs.
The number of High potential and early stage start-ups that are funded is the culmination of a high level of engagement by Enterprise Ireland with entrepreneurs to build their business proposition. The target number of 155 high potential and early stage start-ups in the Action Plan for Jobs 2014 was set in consultation with Enterprise Ireland, is a stretch level of activity and reflects Enterprise Ireland’s own internal targets.
In 2014 Enterprise Ireland through its Competitive Start Fund is targeting three new sources of entrepreneurs:
- Graduates;
- Entrepreneurs focussed on the aviation sector; and
- Entrepreneurs with ideas for new manufacturing technologies.
It is challenging, in advance, to gauge the number of potential applicants in these areas and the number of high potential projects that will emerge as they are new areas of focus for Enterprise Ireland. However, it is hoped that these will be a strong source of new entrepreneurs and additional high potential start-ups.
In addition to this support Enterprise Ireland provides advice to 1,300 early stage entrepreneurs and works intensively with over 350 pre seed start-ups to help them to build an investor ready business plan. While Enterprise Ireland will strive to exceed the target of 155 this specific company support should be looked at in the context of the wider suite of direct and indirect supports provided by Enterprise Ireland for its client base.
