Irish digital technology sector thriving with annual sales of over €6.5bn

Enterprise Ireland launches new ad campaign to highlight ‘vibrant’ sector

 There are more than 1,000 tech companies in the State operating across a wide number of industries. Photograph: iStock

There are more than 1,000 tech companies in the State operating across a wide number of industries. Photograph: iStock

 

The State has a “vibrant” digital technology sector with more than 1,000 companies operating across a wide number of industries, according to new figures from Enterprise Ireland.

Launching a new social media campaign to promote the sector, the State agency highlighted local success stories such as Aid:Tech, Cubic Telecom, Luzern, SoftCo and Teamwork.

According to Enterprise Ireland, Irish digital technology companies had combined annual sales of more than €6.5 billion and exports of €3.6 billion in 2018.

The agency defines digital technology companies as those “developing and using tools, algorithms and applications to solve real-world problems across a wide range of industries that generate, store or process data”.

The new social media campaign has been launched to coincide with St Patrick’s Day and will be promoted in the three biggest markets for exports. Digital technology companies exported €1.3 billion to North America in 2018. In addition, exports to the UK and the euro zone totalled €900 million and almost €500 million respectively.

Energy and depth

“There’s incredible energy and depth in the Irish tech scene. Accounting for €3.6 billion exports in 2018, the story behind the figures shows the strength of Irish technology companies and the impact they are making across the world, delivering innovation to global brands,” said Carol Gibbons, head of Enterprise Ireland’s ICT division.

“Exceptional talent, a vibrant investment activity and a renowned research base have combined to create one of the world’s leading tech hubs,” she added.

The social campaign initiative is part of EIs international buyer-focused “Irish Advantage” campaign. First launched in 2018, it has reached more than two million buyers internationally.

Enterprise Ireland was recently named the second-largest seed investor in the world and the biggest in Europe by the international investment platform PitchBook. It invested €24 million in 127 start-ups in 2019 and €72 million in venture funds in 2018, as part of its seed and venture capital schemes.