Prime time for start-ups as seed funds reach 30-year high
Published 21/03/2011 | 05:00
The availability of seed funds to invest in Irish companies is at its highest level in 30 years.
Speaking at the launch of the InterTradeIreland Annual Venture Capital Conference yesterday, Kernel Capital founder Niall Olden said that despite the economic downturn, there had never been a better time to start a business in Ireland. He said business costs were at an all-time low for start-ups, as they could now hire staff and lease premises at much more cost-effective levels.
"In 30 years of Irish venture capital, there has never been more seed and early-stage funding available than there is today," Mr Olden said.
The conference will take place at the Institute of Chartered Accountants on April 7. It will focus on three key areas: securing investment, becoming self-sustaining and realising the investor exit.
Also attending the launch, Sean Gallagher of 'Dragons' Den' said the future of Ireland's economy would be driven by small and medium enterprise.
"These enterprises require support in order to be given the opportunity to grow and prosper in a new Ireland. Venture-backed firms outperform non-venture-backed firms, create more jobs and invest more in R&D.
"Our focus in InterTradeIreland, therefore, is to transform equity-raising businesses into first-class investor-ready companies. In doing so, they can assist economic recovery."