Written Answers Nos. 236-245
236. Deputy Niall Collins asked the Minister for Jobs, Enterprise and Innovation the number of applications received by the microenterprise loan fund in each year since its establishment, in tabular form; the number of loans approved; the total amount drawn down; the number of jobs supported by the fund; her plans for its future development; and if she will make a statement on the matter. [15286/16]
View answerThe Deputy should be aware that much of the information sought is available in the Quarterly Reports provided to me by Microfinance Ireland and published on Microfinance Ireland’s and my Department’s website. For ease of reference I have detailed below the information that the Deputy has sought.
Microfinance Ireland (MFI) was established in 2012 to address a clearly perceived market failure in the area of the provision of lending to microenterprises. Since its incorporation MFI has loaned over €11 million to microfirms and in the process has helped to create and sustain over 2,000 jobs, a very satisfactory performance in a difficult market niche at a very difficult time.
To secure the future development of MFI my officials are in negotiations regarding securing a tranche of €10 million additional exchequer funding required to keep the Fund operating as a going concern beyond 2017 in line with company law requirements. This equity injection is combined with additional bank funding of €15 million. This will ensure that our SMEs continue to have the option of obtaining finance from Microfinance Ireland in order to create and sustain the jobs we need to continue growing our economy.
|
2012 (October to December) |
2013 |
2014 |
2015 |
2016 (end of March) |
Total |
|
|
Applications Received |
59 |
320 |
508 |
752 |
187 |
1,826 |
|
Loans Approved |
12 |
127 |
274 |
357 |
97 |
867 |
|
Amount Drawn down €000 |
52 |
1,847 |
3,277 |
4,744 |
1,154 |
11,074 |
|
Jobs Supported |
21 |
289 |
581 |
930 |
180 |
2,001 |
Activity in Microfinance Ireland 2012-2016 (to end March 2016)
237. Deputy Niall Collins asked the Minister for Jobs, Enterprise and Innovation the level of take-up of the development capital scheme in each year since its establishment; the number of jobs supported; and if she will make a statement on the matter. [15287/16]
View answerThe establishment of the Development Capital Scheme is a critical action under the Government’s Action Plan for Jobs process and has the objective of increasing the availability of risk capital and closing the ‘equity gap’ experienced by SMEs seeking risk capital in the region of €2 million to €12 million. Such a measure, in tandem with the many other actions contained in the annual Action Plan for Jobs process, have helped over 125,000 people back in to work since the first Action Plan has launched in February 2012.
The Development Capital Scheme which is run through an open and competitive process, on foot of key actions under the APJ process has seen total commitments by the State of €75m to three funds with the aim of leveraging a minimum total of €150 million in additional funding from the private sector.
Each of the funds established under the Development Capital Scheme is aimed at providing funding for the mid-sized, mostly export-oriented businesses with clear growth and development prospects. The funds are targeted particularly at manufacturing and technology companies in traditional sectors including engineering, food, life sciences, services and electronics. All of the funds were established in the later parts of 2013 and commenced investment in 2014.
State investment in these funds is on the same terms as the private sector. The investment managers are responsible for making investment decisions within a clearly defined investment strategy over the life time of the fund. All three funds have invested in the Irish market and are looking for new investment opportunities.
Table 1 below breaks down the level of investment in companies under this Scheme on an annual basis for 2014 and 2015 and documents the number of actual investments and the number of companies in receipt of investment.
Table 1 – Investment Data
|
Year |
No. of Investments |
Amount |
No. of Companies |
|
2014 |
4 |
€29,993,997 |
4 |
|
2015 |
5 |
€475,354,418 |
5 |
|
Total |
9 |
€105,348,415 |
9 |
Table 2 below outlines the economic profile of the companies in receipt of investment as of the year end 2015.
Table 2 – Economic Profile of Companies
Year 2015
|
Type |
Direct IRL Employment (FTE) |
Turnover |
Exports |
|
Development Capital |
3,290 |
€318.8m |
€102.5m |
|
Grand Total |
3,290 |
€318.8m |
€102.5m |
238. Deputy Niall Collins asked the Minister for Jobs, Enterprise and Innovation the level of take-up of seed and venture capital scheme in each year since its establishment; the number of jobs supported; and if she will make a statement on the matter. [15288/16]
View answerSuccessive Governments have invested in the domestic venture capital sector over the last twenty years. This investment has sought to increase the availability of risk capital for SMEs to support economic growth through the continued development of the Seed and Venture Capital industry in Ireland, thereby achieving a more robust, commercially viable and sustainable sector.
As part of Budget 2013 the Government committed €175 million to the Seed and Venture Capital Scheme 2013-2018, with a target to leverage a further €525 million from the private sector making €700 million in additional capital available to high growth SMEs. Following the conclusion of an extensive and in-depth evaluation, the first call for expressions of interest under this scheme has concluded and commitments of €109.5m were made to a number of funds in the technology and life science sectors. This includes an investment of €10m towards the Business Angels co-investment between Enterprise Ireland and the European Investment Fund announced today. The successful funds have closed, completed fundraising and commenced investing in companies. All investment activity for 2015 will be reported in the Enterprise Ireland Annual Seed and Venture Capital Report 2015.
In June 2015, a second call was announced for expressions of interest focused on early stage with a strategy of investing in Irish start-ups. The specific objective is to ensure there is sufficient seed capital in the Irish market to meet demand and to support company creation and commercialisation of research. The deadline for expressions of interest for this process is 31 July 2015. Enterprise Ireland evaluated the expressions of interest received against the published criteria and has made total commitments of €65m to 7 fund managers with a number of funds expected to launch in the near-term.
In addition, funds in receipt of investment under the Seed and Venture Capital Scheme 2007-2012 are still actively investing. A third call for expressions of interest under the Seed and Venture Capital Scheme 2007-2012 was issued in July 2012. As a result of this call the €50 million Frontline Ventures Fund I, €20m SOSventures Fund and the €6m Hoxton Ventures Fund were established and each of these funds are active in the market and actively investing.
Under these Schemes a minimum of double Enterprise Ireland’s commitment must be invested in Irish companies over the lifetime of each fund.
Since inception, the funds supported under this Scheme have drawn down the following amounts from Enterprise Ireland;
|
2006 |
2007 |
2008 |
2009 |
2010 |
2011 |
2012 |
2013 |
2014 |
2015 |
|
€3.3m |
€6.3m |
€7.5m |
€12.5m |
€13.4m |
€18.5m |
€24.9m |
€21.0m |
€16.3m |
€16.1m |
The following table outlines the economic profile of the companies in receipt of investment as of the year end 2015.
|
Type |
Direct IRL Employment (FTE) |
Turnover |
Exports |
|
Main VC Funds |
1,163 |
€150.9m |
€142.9m |
|
Seed VC Funds |
1,167 |
€239.7m |
€110.4m |
|
Grand Total |
2,330 |
€390.6m |
€253.3m |
The annual Enterprise Ireland Seed & Venture Capital Report will be launched on 14th June 2016. The report highlights that under the 2007–2012 Programme, Enterprise Ireland committed €175 million to continue to develop the seed and venture capital market in Ireland. Up to December 2015, fourteen new funds were launched with an Enterprise Ireland commitment of €174 million. It further noted that in 2015, venture capital funds in receipt of commitments under the Enterprise Ireland Seed and Venture Capital Schemes made 144 investments in Irish based companies, with a total investment value of €54 million.
The report will be available on the Enterprise Ireland Website on publication.
239. Deputy Niall Collins asked the Minister for Jobs, Enterprise and Innovation the level of take-up of the Innovation Fund Ireland in each year since its establishment, the number of jobs supported; and if she will make a statement on the matter. [15289/16]
View answerInnovation Fund Ireland is an Irish Government initiative designed to attract leading international venture capital fund managers to Ireland to compliment the domestic venture capital sector. Innovation Fund Ireland funding involved Enterprise Ireland and NPRF investing together and separately. The NPRF has now been reconstituted as the Irish Strategic Investment Fund (ISIF). The dual mandate of the ISIF – investment return and Irish economic impact – represents a new “double bottom line” approach to investing and will require all transactions to generate both risk adjusted commercial returns and economic impact in Ireland.
Enterprise Ireland and ISIF have committed up to €125m each to make commitments to international Venture Fund Managers. These funds commit to establishing a presence in the Irish market and agree to invest, at a minimum, the equivalent of Enterprise Ireland’s contribution, over the lifetime of the fund in Irish companies or companies with significant operations in Ireland. Enterprise Ireland issued two open competitive calls for proposals. To receive an investment through Innovation Fund Ireland, venture capital fund managers must meet, at a minimum, the following criteria to be considered for investment:
- An established global profile and network with a reputation for market leadership in venture capital investment.
- A proven track record of raising funds and generating superior returns for investors.
- A capacity to access high potential international investment opportunities with an investment team capable of attracting world-class entrepreneurs.
- An intention to establish a new and substantial presence in the venture capital market in Ireland and a willingness to invest a meaningful proportion of their venture capital fund in Irish companies or companies with significant Irish operations.
Enterprise Ireland alongside the ISIF/NPRF has made commitments to four Venture Capital funds including Sofinnova, Highland Venture Capital Europe and Lightstone Ventures. Two of these funds have ceased investing in new opportunities (having met their commitments to invest in Ireland) while the remaining two funds are activity looking for opportunities.
Separately the NPRF/ISIF made a number of commitments to other funds including Polaris and DFJ Esprit. The ISIF report to the Department of Finance and not my Department. Separately, the ISIF issued their economic impact report. http://www.ntma.ie/business-areas/ireland-strategic-investment-fund/
Table 1 below outlines the levels of investment in Irish companies to the end of 2015.
|
Year |
No of investments (IRL) |
Amount |
No. Companies |
|
2013 |
2 |
€7,447,620 |
2 |
|
2014 |
3 |
€32,169,146 |
2 |
|
2015 |
12 |
€13,637,101 |
4 |
|
Grand Total |
17 |
€53,253,866 |
8 |
Table 2 below outlines the economic profile of the companies in recent of investment as of the year end 2015.
|
Type |
Direct IRL Employment (FTE) |
Turnover |
Exports |
|
IFI |
139 |
€43.3m |
€39.2m |
|
Grand Total |
139 |
€43.3m |
€39.2m |
Economic Impact Data 2015- IFI
240. Deputy Niall Collins asked the Minister for Jobs, Enterprise and Innovation to outline the timetable for the review of Book of Quantum by InjuriesBoard.ie; and if she will make a statement on the matter. [15290/16]
View answerThe Personal Injuries Assessment Board (PIAB) is an independent statutory agency and I, as Minister, am not permitted in my executive function to interfere in any way with the day to day operations and functions of PIAB.
Section 54 of the Personal Injuries Assessment Board Act 2003 sets out the principal functions of the Board. Section 54(1)(b) states: ‘to prepare and publish a document (which shall be known as the ‘‘Book of Quantum’’) containing general guidelines as to the amounts that may be awarded or assessed in respect of specified types of injury’.
The Book of Quantum was last produced in June 2004 and data was sourced by independent consultants on behalf of PIAB from a number of sources including, the Courts Service, the Insurance Industry and the State Claims Agency. PIAB are currently reviewing the Book of Quantum and have engaged outside consultants to assist in this work.
PIAB hope to have the revised Book of Quantum ready as soon as possible. The Book isn’t a recommendation for compensation levels but rather a reflection of the prevailing level of awards, i.e.:
- compensation values awarded by the courts
- settlements agreed by the Insurance Industry
- settlements agreed by the State Claims Agency; and
- settlements agreed through the PIAB process.
241. Deputy Thomas Pringle asked the Minister for Children and Youth Affairs her response to HIQA's recent annual overview report on the inspection and regulation of children’s services in 2015, which found a varying degree of inconsistencies in the quality of service provision for children and young persons; and if she will make a statement on the matter. [15186/16]
View answerI welcome the findings of the Health Information and Quality Authority’s (HIQA) 2015 overview report of their independent inspections of the Child and Family Agency, Tusla child protection and children in care services. The report stated that, overall, HIQA found standards across all three areas of residential, foster care and child protection to be good. There was good social work practice with children and families in foster care and the child welfare and protection services. HIQA identified that Tusla required more social workers and needed to increase standardisation of services around the country to ensure that all children received an equitable provision of care. The report also noted the need for continuing development of national policies and ICT projects.
HIQA identified a shortage of social workers across many inspections. The level of funding provided to Tusla for 2016 has significantly strengthened Tusla’s capacity to recruit more social workers and to deliver a high level of care for children. The Government has provided Tusla with funding of over €676 million in 2016 - this is an increase of €38 million on the provision for 2015 and this increase was widely acknowledged as representing a significant strengthening of Tusla’s base funding level. The additional resources provided gives the Agency greater capacity to respond to identified risk and to address areas of unmet need.
It is a positive sign that HIQA inspectors found that staff responded to the needs of children and focussed on their rights and welfare. Children were encouraged to take part in decisions on their care, had access to advocates and were helped to keep positive attachments with their families. Children told inspectors that their lives had improved through contact with child protection social workers.
Tusla will continue its recruitment campaign to recruit the social work and social care staff to support families and to protect vulnerable children. The majority of HIQA findings relate to standards that are deemed to require improvement. Tusla reports to my Department on the action plans that they have put in place following each of the inspections to deal with problems and areas needing quality improvement.
Tusla is engaged in a programme of service reform to ensure that a consistent quality of care is available to children and families across the country. I am confident that this process and the major recruitment campaign currently underway, will see a significant improvement in all child welfare and protection services.
242. Deputy Kathleen Funchion asked the Minister for Children and Youth Affairs her plans to fill the two vacant positions on the Board of Tusla, the Child and Family Agency; and if she will make a statement on the matter. [15193/16]
View answerThe Child and Family Agency Act, 2013, provides for the appointment of a nine person Board consisting of a Chairperson, a Deputy Chairperson and seven ordinary members all appointed by the Minister for Children and Youth Affairs.
The Board currently consists of seven board members with two vacancies. Three further vacancies will arise at the end of the year when the term of office of three Board members expires.
Appointments to State Boards must be made in accordance with the Department of Public Expenditure and Reform (DPER) Guidelines for Appointments to State Boards that were approved by the last Government and published in November, 2014.
I am currently considering the approach to take in filling current and future Tusla Board vacancies.
243. Deputy Paul Murphy asked the Minister for Children and Youth Affairs the Bills relevant to her Department she will reinitiate from the previous Dáil Éireann; the Bills she will introduce in the coming sessions; when she will introduce each Bill; and if she will make a statement on the matter. [15208/16]
View answerMy Department will not be resubmitting any legislation from the previous Dáil as there was no legislation relevant to my Department that had not been enacted before that Dáil was dissolved.
The Adoption (Amendment) Bill is currently before the Dáil. It has passed Second Stage, and Committee Stage is awaited. It is anticipated that the Adoption (Information and Tracing) Bill will be introduced to the Houses during the next Dáil session with a view to enactment during that session.
The Programme for Government contains a commitment to increase the mandatory school leaving age to 17. The Education (Welfare) Act 2000, which is the relevant legislation in relation to this commitment, comes under the remit of my Department. I will work closely with the Minister for Education and Skills in the development of the legislative proposals and in the context of Government commitments for a new School Completion Strategy and an Action Plan for Educational Inclusion. The proposals for the legislation will be brought forward promptly having regard to requirements of the deliberative process and the priorities in the Government programme to secure improved educational outcomes for vulnerable children.
244. Deputy Catherine Murphy asked the Minister for Children and Youth Affairs the number of vacant posts on the board of Tusla, the Child and Family Agency; her plans to make appointments from the previous Public Appointments Service shortlist, or, if and when she will re-open the recruitment process; and if she will make a statement on the matter. [15212/16]
View answerThe Child and Family Agency Act, 2013, provides for the appointment of a nine person Board consisting of a Chairperson, a Deputy Chairperson and seven ordinary members all appointed by the Minister for Children and Youth Affairs.
The Board currently consists of seven board members with two vacancies. Three further vacancies will arise at the end of the year when the term of office of three Board members expires.
Appointments to State Boards must be made in accordance with the Department of Public Expenditure and Reform (DPER) Guidelines for Appointment to State Boards that were approved by the last Government and published in November, 2014.
I am currently considering the approach to take in filling current and future Tusla Board vacancies.
245. Deputy Bernard J. Durkan asked the Minister for Children and Youth Affairs the extent to which adequate counselling remains available to vulnerable children and adolescents; if improvement is warranted and likely; and if she will make a statement on the matter. [15218/16]
View answerTusla, the Child and Family Agency, provides funding to voluntary organisations offering a range of counselling and support services to children and families including:
· Marriage and relationship counselling;
· Child counselling;
· Rainbows Peer Support Programme for children;
· Bereavement counselling and support on the death of a family member.
This year, Tusla is providing funding of approximately €5.8 million to support counselling services, the majority of which are voluntary. The organisations that are funded vary enormously in size and approach; some are dedicated counselling bodies, others provide counselling as part of a wider range of social and family services. These services provide support to families, children and young people. The funding provided by Tusla focuses on the development of support services in the community for families to enhance stability in family life and to assist children and families and their members in dealing with difficult periods in their lives.
Counselling services funded by Tusla are specifically targeted at children who have been affected by parental separation or who have suffered family bereavement. Tusla’s marriage and relationship counselling funding is instrumental in assisting parents to deal with difficulties they experience in their personal relationships.
The funding provided aims to make counselling available to those who could not otherwise afford it.
Tusla will continue to work closely with service providers to support vulnerable children and young people and the effective functioning of families.
