This Week: The world of business over the next five days
Meetings, results, indicators – and of course some World Cup events
San Francisco: the latest generation of start-up founders and entrepreneurs will vie for a place, on Tuesday in Dublin, at the 2018 Start Up World Cup in San Francisco
Indicators: Irish trade statistics (Aug) and construction PMI (Oct); US consumer inflation expectations (Oct).
Meetings: European Aviation Conference (The Helix, DCU, Dublin 9); Human Resources for Health Forum (RDS, Dublin 4); European Share Point Conference on Microsoft technologies (Convention Centre Dublin).
Indicators: Euro-zone GDP (Q3) and industrial production (Sep); UK inflation (Oct), PPI input and output (Oct) and retail prices (Oct); German GDP flash (Q3), inflation (Oct) and economic sentiment (Nov); US PPI (Oct).
In any area of life, if you can have a World Cup, it is safe to assume you have an audience. Or at least an interesting competition.
Since the financial crisis of 2008, the very notion of the “start-up” took on a whole new life. College graduates, bereft of employment opportunities, and those who lost jobs or businesses quickly looked to see what the world of business wanted and needed.
Throw in the simultaneous strides in tech, and new ventures built from the ground up, often in garages or bedrooms, became the rock-star trophy of commerce.
In Dublin on Tuesday, the latest generation of start-up founders and entrepreneurs will vie for a place at the 2018 Start Up World Cup in San Francisco. It is the Ireland vs Faroe Islands of the business world, before the glamour of the main event.
Hosted by Fenox Venture Capital (in association here with Enterprise Ireland), the competition offers a $1 million funding prize. While pitched to companies at all levels of development, they are encouraged to have a live product at “minimum viable product” stage or later development and be generating revenue.
Although the date for entries has closed, the top 10 selected ventures will have to produce polished pitches on Tuesday to capture a place at next year’s finale. This “live pitch” event is open to other start-up entrepreneurs to attend.
“The Start-Up World Cup gives start-ups with the potential to scale internationally, the opportunity to be catapulted onto a global stage at a crucial time in their progression and development,” said Joe Healy, manager of the High Potential Start-Up division at Enterprise Ireland and a competition judge.
Results: Premier Foods.
Indicators: Irish balance of trade (Sep); Euro zone balance of trade (Sep); UK unemployment (Sep) and average earnings (Sep); US inflation (Oct) and retail sales (Oct).
Indicators: Irish industrial production, construction, distribution and services provisional data; Euro zone inflation (Oct); UK retail sales (Oct); US export and import prices (Oct), industrial and manufacturing production (Oct).
Meetings: Small Firms Association Webinar on planning for the Christmas period.
At the beginning of the month, law firm Pinsent Masons leased 10,000 sq ft of office space at 1 Windmill Lane (1WML) in Dublin’s South Docks, bringing total occupancy at the high-end block to at least 56 per cent (approximately 54,000 sq ft remain).
It was a nice announcement for owner Hibernia REIT ahead of interim results on Thursday (for the six months to end-September).
The letting followed previous agreements from Core Media (24,000 sq ft) and Informatica Ireland (36,000).
Goodbody described news of the latest tenant as a “further confidence boost” for the REIT and “evidence of its model coming to fruition”. Davy expects good things in its results, with the potential for some insights into other lettings.
Established four years ago, Hibernia now claims a portfolio valued at more than €1 billion, primarily in city centre office space.
In its note, Davy said it was leaving conservative net asset value (NAV) forecasts (upgraded in October by between 2 and 5 cent) unchanged.
“We expect the company to publish NAV both pre and post the impact of the [Budget 2018] change in stamp duty given that the period end date pre-dates the budget,” it said.
Hibernia completed its development of 1WML in August, having acquired the one acre site derelict in June 2014. It comprises 124,000sq ft of offices space and 8,000sq feet of retail space.
Results: Abercrombie & Fitch, Footlocker.
Indicators: Euro zone construction output (Sep).