FORBAIRT has announced in Pittsburgh that it expects up to 15 business agreements to be announced following its business partnership programme trip to the US in June.
Mr Sean Donnelly, chief executive of Forbairt, said the initiative launched at the Washington conference 18 months ago had been hugely successful.
The programme, which is run jointly with Forbairt and the US Small Business Administration, has been given a "powerful push" by the formal backing of the US administration, according to Mr Donnelly.
The preliminary work is done by the two state agencies. They find the companies, vet them and set up the meetings. "We identified five or six introductions for each company with real potential," he said. "This is not random selection."
The first phase, when 30 Irish companies visited the US in November, 1995, has already announced five success stories and eight more are expected. Of the 31 Irish companies which travelled to Chicago in June with Minister for Enterprise and Employment, Mr Richard Bruton, between 10 and 15 are expected to sign deals.
Some of the companies which travelled at that time include, Iona Software in Dublin, Industrial Print in Bray, stainless steel supplier, Southborough, in Kells and plastics company, Renix, in Mulhuddart. The focus of the initiative is where both parties bring some unique experience or local knowledge to the relationship.
This lessens the cost and risk and enhances the prospect of success, according to Mr Donnelly. Most of the Irish companies involved employ between 10 and 50 people. The next mission will be in late spring or early summer next year and Forbairt is already talking to many of its contacts to try and identify which Irish companies should go.
:quality(70)/cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/VR3765MFOBH2NMV2QNICYDF67M.png)