Written Answers Nos. 1-108
103. Deputy Éamon Ó Cuív asked the Minister for Jobs, Enterprise and Innovation if he will rationalise the ownership of industrial land and estates between the agencies under his remit; and if he will make a statement on the matter. [17309/14]
View answerIDA Ireland and Shannon Development are the only two agencies under the remit of my Department who hold industrial property portfolios. Under legislation both agencies are independent in the exercise of their property function.
Property solutions to companies who are clients of Enterprise Ireland are provided by IDA Ireland.
As part of the restructuring of Shannon Development, the enterprise support functions have transferred to IDA Ireland and Enterprise Ireland. This will ensure the continuation of support to both FDI and indigenous enterprises in the region. In addition, IDA Ireland is in the process of purchasing lands in the National Technology Park in Limerick and the Raheen Business & Technology Park from Shannon Development.
By bringing together the remaining property functions of a restructured Shannon Development with the Shannon Airport Authority under the umbrella of the new Shannon Group, the combination of the airport business with the adjoining industrial property portfolio can provide the region with the capacity to exploit sectoral opportunities and crucially those in the aviation sector.
In respect of IDA Ireland, the empirical results of international research has demonstrated that the availability of suitable property solutions is a key element in the location decision making process undertaken by prospective investors in determining where projects will locate. Most International development agencies with which IDA competes hold substantial stocks of such properties.
In recent years, IDA Ireland has taken the decision to rationalise its non-core land holdings in a number of locations throughout the country. This allows it to undertake initiatives such as the recent decision to strengthen its regional industrial infrastructure by developing specialist properties in Athlone, Waterford and Letterkenny.
IDA will in future be the single Agency dealing with industrial land and will constantly keep its property portfolio under reviewing the context of emerging opportunities and new strategies being developed by the Agencies.
104. Deputy Maureen O'Sullivan asked the Minister for Jobs, Enterprise and Innovation the process of engagement between Enterprise Ireland and Dublin Business Innovation Centre when an investor ready business plan has been produced by DBIC and a project promoter; if an adviser from DBIC is present during these engagements; and if he will make a statement on the matter. [17415/14]
View answerThe Business Innovation Centres (BIC’s) are independent companies limited by guarantee and led by Boards whose members are mainly from the private sector. There are four BIC’s located throughout the country as follows – Dublin BIC, Cork BIC, South East BIC, based in Waterford and West BIC, based in Galway, who currently receive combined funding of €2.2m per annum from the Exchequer.
Working in conjunction with Enterprise Ireland the BIC’s help to refine early stage business propositions with HPSU potential and help the promoter to build an Investor Ready Business Plan. This is a very valuable service in supporting early stage enquiries and start-up companies. The BIC will also advise the promoter in relation to the Funding Authority that would be appropriate for his/her business.
Enterprise Ireland offers a range of financial and non-financial supports to assist clients through all stages of the business development cycle. Enterprise Ireland’s offers in the Start-Up space are aimed at High Potential Start-Up (HPSUs). HPSU companies are defined as start-up ventures that are:
- 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 sales within three to four years of starting up.
- Led by an experienced management team.
- Headquartered and controlled in Ireland.
- Less than six years old.
When a project promoter is at investor ready stage, with a strong likelihood of completing a seed funding round within 12 months, Enterprise Ireland will assign a Development Adviser to work with the promoter. The Development Adviser will meet with the project promoter to begin the engagement. There is no specific requirement to include third parties, e.g. the Dublin Business Innovation Centre at this meeting. From time to time, project promoters will seek to bring third parties to the meeting and Enterprise Ireland is happy to accommodate this request.
