1,600 jobs on way from 'high potential' start-ups
MORE than 1,600 jobs are being or will be created with the emergence of new 'high potential' start-up companies backed by Enterprise Ireland last year, the government agency claimed yesterday.
Sales of more than €300m will be generated through the 97 firms that received state support to get off the ground in 2012.
The companies represent a wide range of sectors, including financial services, ICT, games, pharmaceuticals and medical devices.
Small business minister John Perry said emerging businesses will play a critical role in achieving much-needed levels of growth and employment.
"During the last two years, this Government has delivered a series of measures aimed at putting the best supports in place and creating the right business environment so that indigenous companies can grow their businesses and succeed in export markets," Mr Perry said.
"Our priority is to ensure that more high-growth businesses can set up, expand and turn into large employers."
A high-potential start-up company is defined as a company that is based on technological innovation, likely to achieve significant growth in three years, is export-oriented and led by an experienced team with a mixture of technical and commercial competencies.
Enterprise Ireland said it has continued to introduce new initiatives to provide support at all stages of getting a company off the ground.
Greg Treston, head of high potential start-ups and scaling, said: "A key priority for us is to see more young and innovative people starting businesses and the New Frontiers Programme and Competitive Start Funds are there particularly to help these young, first-time entrepreneurs."