Dáil Éireann Debate, Tuesday - 16 October 2018
327. Deputy Noel Rock asked the Minister for Business, Enterprise and Innovation the breakdown of funding to support the development of start-up businesses here in the past ten years; and if she will make a statement on the matter. [42220/18]
Amharc ar fhreagraEnterprise Ireland (EI) is the state agency under my aegis with responsibility for the development and growth of Irish enterprises in world markets.
A key focus of Enterprise Ireland’s activity is supporting start-ups and the start-up ecosystem as illustrated by the following EI programmes and service level agreements:
- National Entrepreneurial Development Programme
- Competitive Start Fund (CSF)
- Innovative High Potential Start Ups (iHPSU) equity support
- €3m Regional Accelerator Scheme 2015 -2017
- Campus Incubator Scheme
- €175m Seed and Venture Capital Scheme 2013 -2018
- Service Level Agreement in place with the BICs (Business Incubation Centres)
- Service Level Agreement in place with Local Enterprise Offices to support micro-enterprise.
- New Frontiers Programme
In 2017, Enterprise Ireland:
- Supported 90 new innovative High Potential Start-Ups (iHPSU)
- Supported 91 new start-ups were approved an investment of 50,000 each through a series of call under the Competitive Start Fund.
- Invested in 63 female led start-ups.
The financial support provided by Enterprise Ireland to directly support start-ups via investment in iHPSU and CSF is presented in the following table.
Table 1: Financial support provided by Enterprise Ireland to directly support start-ups via investment in iHPSU and CSF
|
Year |
Innovative HPSU |
Competitive Start Fund |
|
2017 |
€20,252,533 |
€550,000 |
|
2016 |
€18,462,051 |
€950,021 |
|
2015 |
€14,565,144 |
€875,051 |
|
2014 |
€19,931,290 |
€1,425,000 |
|
2013 |
€18,293,100 |
€1,400,000 |
|
2012 |
€17,671,737 |
€1,125,000 |
|
2011 |
€17,819,700 |
€450,000 |
|
2010 |
€17,391,905 |
n/a* |
|
2009 |
€17,792,481 |
n/a* |
|
Grand Total |
€171,594,957 |
€6,825,072 |
*note the CSF programme commenced in 2011.
The Local Enterprise Offices (LEOs) are the ‘first-stop-shop’ for providing advice, and guidance, financial assistance and other supports to those wishing to start or grow their own business.
LEO Priming grant data is the best indicator of Start-up support. The funding provided by the LEOs for Priming grant (Start-up) approvals is presented in the following table.
Table 2: Financial support provided by Local Enterprise Offices via Priming Grants
|
2014* |
2015 |
2016 |
2017 |
1st of January to 30th September 2018 |
|
|
Priming Grant Applications Approved Amount € |
7,693,176 |
7,630,910 |
7,038,130 |
6,431,905 |
4,916,617** |
* This is data for the full year which includes the County Enterprise Board period.
**As per the LEOs’ Grant Management Information System on 11 October 2018
It should be noted that following dissolution of the Community Enterprise Boards (CEBs) in 2014 and the subsequent establishment of the LEOs, an examination and reclassification of the former CEB client portfolio was undertaken by EI. This means that data prior to 2014 cannot be compared with data from 2014 onwards.
