Analytics firm among Dublin tech startups benefiting from €2.25m enterprise investment
Tech startups in Dublin have benefited to the tune of €2.25m from the city's Local Enterprise Office over the last four years.
The capital's LEO has provided funding to 157 businesses in the technology sector since its establishment in 2014.
According to 'Driving Dublin’s tech growth: how Local Enterprise Office Dublin City is helping tech companies start and grow', a report released today, the supports available for techie entrepreneurs has been highlighted.
Dave Connolly, Business Advisor at LEO Dublin City, said that providing investment to start-ups and small businesses within the tech sector accounts for one-quarter of all clients.
"This is the most active sector we work with. So far this year, 53 per cent of all funding we’ve approved has been for tech businesses. These range from medtech start-ups and data analytics firms to e-commerce platforms and lifestyle companies," he said.
"Each year, we help in the region of 40 tech clients. So far this year, we’ve provided €340,000 in funding to 23 tech businesses. The funding and other supports we provide help these businesses to build their staff teams; expand into new markets; and move from early-growth stage to high-potential start-ups."
Case studies of some of the businesses supported by the group over the past four years are included in the report, which estimates that the LEO funded €610,771 in tech businesses each year since 2014.
Based in Dublin and London, film industry analytics usherU received €40,000 in funding, including grants to grow their staff team and help them transition out of their start-up phase.
Pati Matsushita, Creative Director of usheru, said that the support they received from Local Enterprise Office Dublin City was invaluable.
The report reveals that the LEO's support has led directly to the creation of over 240 jobs in tech businesses in Dublin since 2014.