Dáil Éireann Debate, Thursday - 11 March 2021
9. Deputy Bernard J. Durkan asked the Tánaiste and Minister for Enterprise, Trade and Employment the degree to which he continues to support and drive the creation of new enterprises in the indigenous sector nationally with particular reference to the need to encourage the generation of employment in all regions; and if he will make a statement on the matter. [13844/21]
View answerAs Irish enterprise navigates the impact of COVID-19 and Ireland’s new trading relationship with the UK, my Department’s 2021 focus will be on building a resilient enterprise base to sustain jobs and exports. With the support of our development Agencies, my Department's strategic priorities include:
- Strengthening Irish enterprise to respond to market shocks and disruption in response to COVID-19 and Brexit.
- Driving transformational change and the pace of innovation transitioning to new business models, digitalisation and the low carbon economy.
- Scaling and growing the export and start-up base, across regions and sectors and grow companies of all sizes.
Enterprise Ireland enterprises employ over 220,000 people nationally of which 65 per cent of this employment is located outside of Dublin.
Scaling and growing the export and start-up base, across regions and sectors, continues to be a priority of this Government. Through Enterprise Ireland, my Department provides assistance to entrepreneurs and start-up companies to help with business planning, mentoring and development advice, feasibility funding and finance. Programmes and initiatives include:
- Enterprise Ireland’s New Frontiers Development Programme, the national entrepreneur development programme for early stage start-ups. This programme runs in partnership with Institutes of Technology throughout the country. In 2020, EI supported 157 entrepreneurs across the country on this programme.
- A Competitive Start Fund to support start-up companies to reach key technical and commercial milestones. In 2020, Enterprise Ireland approved 45 new early stage businesses with investments of up to €50,000 each through a series of Competitive Start Fund calls.
- Support for High Potential Start-Ups (HPSUs) companies with the potential to develop an innovative product or service for sale in international markets and the potential to create 10 jobs and €1m in sales within 3 to 4 years of starting up. In 2020, Enterprise Ireland assisted 80 HPSUs with equity investment.
My Department has provided over €250 million in funding to assist over 270 enterprise centres to provide the infrastructure for companies to start and scale in regions. This funding has been administered by Enterprise Ireland under schemes such as the Regional Enterprise Development Fund, the Border Enterprise Development Fund, the Community Enterprise Centres Schemes and the Campus Incubator Programme.
The process to develop a series of new Regional Enterprise Plans commenced recently and will see new Plans developed for each region covering the period through to 2024. The Plans are based on a ‘bottom-up’ collaborative approach, involving development agencies, Enterprise Ireland and IDA Ireland, Local Enterprise Offices, Local Authorities, higher and further education bodies and businesses. Each Regional Committee is chaired by a senior figure from industry within the region.
My Department continues to ensure diversity in programme delivery which is addressing the needs and challenges of under-represented cohorts. In that regard, Enterprise Ireland has been working for over a decade to address the deficit in female entrepreneurship. This targeted focus on female entrepreneurship has resulted in an increase in the percentage of female founded High Potential Start Ups from 7 per cent in 2011, to 23.75 per cent in 2020. Enterprise Ireland’s 2020 ‘Action Plan for Women in Business’ seeks to build on this success to increase levels of women-led businesses and women in strategic management positions through a targeted programme.
