[March 11, 2014]

Enterprise Ireland Shines a Spotlight on the Country's Thriving Entrepreneurial Ecosystem

As the world prepares to celebrate St. Patrick's Day, Enterprise Ireland, a government agency helping startups find the path to success, today announced key statistics that highlight a dynamic and thriving startup culture in Ireland. Government and venture capital funding, tax incentives, robust research environment and a highly skilled workforce are just a few reasons why Ireland has emerged as a strategic destination for US startups.

"Ireland continues to represent a prosperous ecosystem for tech and biotech startups. We're constantly working to foster and mentor startup leaders in Ireland and beyond," said Naghmeh Reilly Senior Marketing Executive for Enterprise Ireland. "While giants like HP, Facebook (News - Alert), Citibank, Pfizer and Google have already recognized the benefits of having a presence in Ireland, we're looking to appeal to US startups that are interested to HQ their business in Ireland and run an international business from here. We've had tremendous success so far as evidenced by our 2013 startup numbers, and we're confident that with our networking, higher education and tax incentives, more entrepreneurs will join our thriving innovation exchange."

Classified as High Potential Start Up (HPSU) companies and supported by Enterprise Ireland, the 2013 class of 188 companies represent markets ranging from software and services to clean tech and medical devices. In 2013, there was a significant increase in female-led investments, up from 16 in 2012 to 41 in 2013. Over the past year, 188 HPSUs received investments from Enterprise Ireland (News - Alert) - 10 percent of which were developed by overseas entrepreneurs.

"When we were ready to choose our location, we explored a lot of options, but Ireland made the most sense," said Joe Marks, an American co-founder of Upfront Analytics, a startup from the HPSU class of 2013. "The key element for us was the availability of top-notch talent - Irish universities produce lots of great graduates in the relevant disciplines for our business. The various tax incentives and the active support of government bodies like Enterprise Ireland also helped. Starting with just the two of us in April 2012, we have grown to a 12-person company and look forward to doubling the size of the team in the next year."

Ireland is rated highly among European countries for entrepreneurial activity. In 2013, it was ranked by Forbes as the best country to do business, and the most entrepreneurial country by the Wall Street Journal.

Enterprise Ireland has more than 30 offices throughout the world, with an extensive network in the United States, including locations in Boston, New York, Austin and Palo Alto (News - Alert). For more information about Enterprise Ireland, please visit www.startinireland.com.

About Enterprise Ireland

Enterprise Ireland is the government agency responsible for the development and internationalization of Irish enterprises. Its main aim is to boost exports and export-led jobs. Enterprise Ireland has 32 offices worldwide to help Irish firms develop overseas markets.

Each year, Enterprise Ireland organizes a series of targeted international trade missions, market visits, participation in international trade fairs and a large number of international buyer visits to Ireland focused on assisting Irish firms target and secure international contracts and overseas partners. Enterprise Ireland works directly with Irish firms to help them start up, develop their businesses, build competitiveness and innovate.

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