ENTERPRISE IRELAND invested in 73 start-up companies during 2009 and aims to support the establishment of another 75 firms this year.
The business development agency expects the firms to generate €600 million in sales over the next three years and create 900 jobs, in addition to the 600 already working in those firms.
The 73 companies who attended a showcase event in Enterprise Ireland’s headquarters in Dublin yesterday all received funding of less than €250,000 from the State agency. Any State investment had to be at least matched by private investors.
Greg Treston, head of high potential start-ups at Enterprise Ireland, said he was “delighted” at the 2009 outcome, given the difficult economic backdrop, and noted the number of firms supported was up from 70 last year.
Minister for Trade and Commerce Billy Kelleher described the banking situation as being of “critical importance” for small and medium businesses.
He said the Government would ensure that as part of any recapitalisation, “measures will be in place to ensure credit flows to start-ups”.
Mr Treston said that Enterprise Ireland was working to build networks of private investors who were willing to support start-ups.
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