Friday 28 April 2017

So why are billion-euro businesses in Ireland almost as rare as unicorns?

Richard Curran

Richard Curran

We don't do big business very well in Ireland. It isn't that we are bad at business, we are actually pretty good at it. We just don't develop many companies to real scale.

This relative inexperience showed last week when some people speculated that a growing technology firm called Movidius could become our "first unicorn". This is a term used to describe a technology start-up company that reaches a $1bn valuation, sale or flotation.

We have had other unicorns in the past. Baltimore Technologies was valued at IR£7bn at the height of the dotcom bubble. Trintech's valuation hit IR£3.8bn.

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