43 New Software HPSUs in 2009

Last Year's High Potential Start-Up Companies Expected to Employ 900 People by 2013

The Government  helped to get 73 new High Potential Start-Up companies (HPSUs) going  through Enterprise Ireland in 2009  with 43 of those in software and  technology services, the Minister for Trade and Commerce, Billy Kelleher TD announced this week at Enterprise Ireland's annual High Potential Start-up Showcase.

Minister Kelleher (pictured) said that these young companies are a critical part of the Government's blueprint for the Smart Economy and stressed the importance of supporting the continued successful commercialisation of third level research.

The 73 HPSU companies  born in 2009 are expected to create more than 900 new jobs over the next three years, and to  bring total employment in these businesses to around 1500. Total sales over the same period are expected to reach €600m, with exports accounting for more than 80% of that.

"This is a very strong performance by these new companies and it will contribute to the Government's strategy for positioning Ireland centre stage as the international hub for innovation," he said.

"It is absolutely critical for the development of the Smart Economy that we do everything possible to drive the continued growth of entrepreneurial, innovation-led companies that will underpin Ireland's reputation world wide as a centre of innovation excellence. They are at the forefront of innovation, creating the products and services that add value for customers, opening new markets, increasing export sales across the globe, and securing economic growth and jobs here at home," Minister Kelleher said.

"With the Technology Transfer Strengthening Initiative set up by Enterprise Ireland in 2007, we are supporting Technology Transfer Offices across the higher education institutes  to provide a world-class system for transferring valuable intellectual property from research into commercially viable propositions."

"The Government is focused on developing Ireland into a ‘smart' or knowledge-based economy and  it has continued to increase its investment in the generation and exploitation of intellectual property developed in Ireland's higher education institutes over the last decade," Minister Kelleher concluded.

Greg Treston, Enterprise Ireland's Head of High Potential Start Ups  said: "We are greatly encouraged by the performance of these 73 companies, and their potential for continued growth.

"Their backgrounds may be different, but they all show that ability to see a business opportunity and to tap into market trends for new and innovative businesses. Start-up business activity in Ireland is showing no let up."

Enterprise Ireland Chairman Hugh Cooney said: "Despite the challenging international trading environment, these companies show that there are significant opportunities for new business start ups.

"This is particularly so in lifesciences, bio-tech and medical technology, food, telecommunications, internet services and other niche areas. These are sectors in which Irish firms are creating a sustainable competitive advantage and building international market share."

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