I am delighted to be here to address the Ireland India Business Association. This is a very important annual event and I thank the IIBA for the invitation to be with you today. It is also an opportunity to welcome India’s new Ambassador to Ireland, Ms Vijay Thakur Singh. Ambassador, I very much look forward to working with you as Ireland’s relationship with India continues to deepen and develop. I would like to acknowledge how important India is as a trading partner for Ireland.
Cylance® Inc., the company that is revolutionizing cybersecurity with products and services that use artificial intelligence to proactively prevent, rather than just reactively detect advanced persistent threats and malware, today announced the opening of a new office in Cork, Ireland. The launch of the company’s operations in Ireland is the latest in a series of internationalization moves to meet the global demand for the company’s next-generation endpoint protection product, CylancePROTECT®, and to provide in-region presence to support customers across EMEA.
Cylance is currently seeking to fill a number of openings for jobs in its new Cork office, including sales, sales engineering, and customer support, with a view toward adding malware analysis and software development roles in the future. The company will be generating approximately 150 job opportunities in its new office on the South Mall in Cork over the next three years. The investment is supported by the Department of Jobs, Enterprise and Innovation through IDA Ireland.
Speaking at the announcement, the Minister for Jobs, Enterprise and Innovation, Mary Mitchell O’Connor TD warmly welcomed the investment by Cylance. “I am delighted to be here today for the launch of Cylance’s operation in Cork. We already have a strong footprint of ICT companies in Cork city and we are very keen to expand that by attracting a wider range of specialist IT companies. We are all aware of the crucial importance of being able to deal with cybersecurity threats and it is terrific news that a company of the stature of Cylance has decided to locate here. We have the IT skills available to enable the company to grow and to embed their operations in Ireland. Their arrival is a great vote of confidence in what Cork has to offer.”
“Cork has become an international cybersecurity and technology center, and we are proud to be a part of that,” said Stuart McClure, president and CEO at Cylance. “Our mission has always been to protect everyone under the sun, and tapping the rich technology pool in Ireland will help us greatly in this effort. The IDA Ireland has been extremely welcoming and we greatly appreciate their expert assistance.”
Cylance has developed an artificial intelligence-based approach to endpoint security that is dramatically more effective than traditional antivirus products. Currently protecting millions of network endpoints (computers and servers) for more than 3,000 large enterprise customers, CylancePROTECT is preventing cyber attacks every day that could otherwise have resulted in data breaches or crippled network performance, employee productivity and brand reputation.
Commenting on the announcement Martin Shanahan, CEO, IDA Ireland said, “Cylance is one of the fastest growing companies in the history of cybersecurity. The choice of Ireland for the new EMEA Operations centre for Cylance is an endorsement of the emerging cybersecurity cluster in Cork. The city’s tech infrastructure, talent pool and supportive academic network have created a compelling business environment which will continue to attract investment from companies operating in this space.”
In just a few short years, the company has achieved a position of leadership in the security industry, having recently closed its Series D funding round of $100 million, much of that earmarked for supporting internationalization. In 2016 alone, Cylance has been named to the CNBC Disruptor 50 list, named in the top 100 of the Inc. 5000 fastest-growing American companies, and was called an endpoint security “visionary” by Gartner.
About Cylance Inc.
Cylance is the only company to offer a preventive cybersecurity solution that stops advanced threats and malware at the most vulnerable point: the endpoint. Applying a revolutionary artificial intelligence approach, the Cylance endpoint security solution, CylancePROTECT®, analyzes the DNA of code prior to its execution on the endpoint to find and prevent threats others can’t, while using a fraction of the system resources associated with endpoint antivirus and detect and respond solutions that are deployed in enterprises today. For more information visit: www.cylance.com.
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Minister of Jobs, Enterprise and Innovation Mary Mitchell O’Connor TD, today welcomed the announcement from Wicklow based Initiative Ireland that it will create 25 new jobs in the coming years. The news comes as the company prepares to raise €2m in investment, under the Employment and Investment Incentive Scheme, supporting the launch of their new Personal Lending Platform across Ireland. Scheduled for launch in 2017, Initiative Ireland will connect everyday people, empowering them to borrow and lend money direct to each other, at a fair, risk-based price.
Initiative Ireland plans to achieve the creation of 25 new jobs over the next 3 years. These roles will include a mixture of experienced specialist roles and some graduate opportunities, supporting the company’s Irish and European sales targets, as they seek to transform Personal Lending through their innovative lending platform.
Once launched, the Initiative Ireland platform will enable everyday consumers to borrow and lend money to each other using its online lending platform. Initiative Ireland will perform credit assessments, apply credit scores to applications and facilitate the funding of each loan by multiple lenders, managing all approved loans thereafter. Using risk-based pricing models, Initiative Ireland will offer favorable pricing to approved borrowers, with the best rates offered to those applicants who secure the best credit-scores. In this way, the platform has been designed to attract and approve high quality loans on behalf of its personal lenders, balancing risks with rewards.
Mary Mitchell O’Connor TD said, “Supporting innovative High Potential startups is a key part of the Government Action Plan for Jobs. Initiative Ireland are working to bring impactful innovations to the market at home and abroad. I welcome Initiative Ireland’s peer-to-peer lending platform which will create 25 jobs and I wish the team the very best for a successful future.
Founded in 2015, Initiative Ireland has already been recognized by Enterprise Ireland, as a High Potential Start Up, receiving support from the State Agency. In Sept 2016, the company was also recognized by the MetLife Foundation at this year’s Inclusion Plus Awards, for their innovative lending model, which promotes financial inclusion for lenders and borrowers alike. The company is currently working to secure regulatory approval, aiming to launch Ireland’s first regulated Peer-to-Peer Lending Platform by May 2017.
Padraig W Rushe, CEO of Initiative Ireland said, “At Initiative Ireland, we‘re excited about creating a consumer finance industry that is honest, fair and inclusive. That’s why we’re combining business and technology innovations which have worked well in other markets, to create something sustainable and tailored to the Irish Market. We believe we can make a positive difference to people’s lives, by giving them better options when it comes to borrowing money or putting their own money to work. It’s with thanks to Enterprise Ireland and schemes like the Employment Investment Incentive Scheme that companies like us are able to compete and deliver innovations to the market.”
Since the first UK P2P Lender was established in 2005, Peer-to-Peer (P2P) Lending companies have been transforming how people borrow and lend money globally. Last year Peer-to-Peer or Marketplace lending accounted for over €3 Billion in UK lending according to a Cambridge University study and €26 Billion Globally. Despite the success of the model in the UK and USA, the Irish Personal Lending Market has yet to benefit from this innovative model.a way to ‘put their money to work’ by lending their funds to multiple borrowers as part of a personal lending syndicate. The company aims to offer lenders indicative returns between 5% – 7% per annum. This compares favorably to the low current average return being earned on approximately €95bn in Household Deposits, which was 0.18% per annum as of March 2016, according to ECB figures. Although lenders will be taking credit risks by lending their money through the platform, these risks are carefully managed by Initiative Ireland who perform credit assessments to approve loans and spread the lenders funds across multiple loans to minimize their exposure to any one lender. Furthermore, the company will also be launching a Safeguard Trust, which is designed to offer a limited guarantee to lenders, compensating them for amounts lost on any of their loans.
For Personal Borrowers, the platform aims to offer the lowest fixed rate personal loans in the market, within indicative saving of 20% – 30% on the cost of loans. Unlike many traditional lenders, the platform is designed to offer risk-based pricing, a common model in the US and UK which provides lower cost loans to individuals with the best credit histories and scores, pricing loans affordably and fairly, based on the customer’s risk assessment. With an estimated annual Personal Lending Market of €4bn, the company aims to gain market share as a price leader, appealing to low-risk borrowers with fair, risk-based prices.
Employment and Investment Incentive Scheme
Having secured outline approval from the Revenue Commission, the company is currently looking to raise €2m in equity investment in Ireland. Under the terms of the scheme, eligible investors will be able to earn up to 40% in Income Tax-Relief on investments in the company of up to €150,000, in addition to any equity investment growth. These funds will be used by the company to support their 2017 commercial launch in Ireland, ahead of their UK expansion. For more information on the company or their upcoming EIIS issuance, visit www.InitiativeIreland.com/eiis2016 , or follow on twitter @InitiativeIrl
Dublin-based company will grow workforce from 80 to 140 over the next twelve months;
Jobs boost comes following major international deal with German car manufacturer Audi;
Announcement made by An Taoiseach, Enda Kenny TD and Minister Mary Mitchell O’Connor this morning;
Microsoft CEO Satya Nadella called Cubic “a fantastic example of an Irish start-up that has built something significant for the world” on a recent visit to Dublin.
Irish global connectivity platform provider, Cubic Telecom, today announced the creation of 60 new jobs at its Dublin office, meaning that the company will grow from 80 to 140 people over the next twelve months.
The jobs announcement was made by An Taoiseach, Enda Kenny TD and Minister Jobs, Enterprise and Innovation, Mary Mitchell-O’Connor TD at a breakfast event at the CHQ Building in Dublin.
In their new partnership Cubic Telecom and Audi are bringing the first connected cars to Ireland and are promoting connected services across Europe through one SIM card specially installed into each Audi model, thereby creating an in-car Wi-Fi hotspot.
The SIM card allows 100Mbps high-speed internet access on the road, letting drivers and passengers avail of online services including Google Street View, traffic and parking information, and a range of infotainment features, including email, calendar and social media integration.
The first generation of Cubic-enabled Audi vehicles launched earlier this summer in Europe and are now available in Ireland.
On a recent visit to Dublin, Microsoft CEO Satya Nadella pointed to Cubic Telecom as an innovative Internet of Things company on the global stage, calling it “a fantastic example of an Irish start-up that not only has built something that is significant for Europe, but worldwide”.
Speaking at the event, An Taoiseach, Enda Kenny TD, said: “Cubic Telecom is a brilliant example of an Irish company excelling on the world stage, and its partnership with a global brand like Audi is further testament to this. This announcement is yet more evidence that the Irish economy remains productive and innovative and our indigenous tech sector is growing from strength to strength.”
Minister for Jobs, Enterprise and Innovation Mary Mitchell-O’Connor TD, said: “Today’s jobs announcement by Cubic Telecom is very welcome. Cubic is a prominent and important Irish owned software company that is leading in its sector. Cubic Telecom’s expansion is a testament to the growing skilled Irish workforce. Ireland is fast becoming an international leader in business and a world-class innovator in some of the technology sector’s most exciting and disruptive new fields. The government with Enterprise Ireland will continue to support Cubic Telecom as it grows and develops global partnerships, cementing its position as leading the way in the area of in-vehicle connectivity. I wish Cubic and their team the very best for their bright future.”
Barry Napier, CEO of Cubic Telecom, said: “Cubic is enabling in-car connectivity on an international scale through partnerships with tier one mobile operators. Our expanding company will help us innovate further in the Internet of Things space, and create industry-leading products and services. The future is ripe with potential and we look forward to taking Cubic technology global.”
Henning Dohrn, Managing Director of Audi Ireland, said: “Tech is powering the next revolution in motoring and our partnership with Cubic Telecom is one of its key instigators. Cubic Telecom distils Audi’s connectivity down to a single SIM card, providing Audi drivers hassle-free access to useful online services, making their drives more convenient and efficient.”
Recruitment has already begun for roles across software development, network engineering and commercial departments. The company expects to have all 60 roles filled by December 2017.
About Cubic Telecom
Cubic Telecom is a global connectivity platform company that offers flexible mobility solutions that power connectivity for leading Internet of things (IoT), machine-to-machine (M2M) and mobile device companies across the globe. The company enables users to offer not just products, but post-sale services – building a lasting and ongoing relationship with end-users. Providing connectivity in over 100 countries; the most robust network, device and retail partnerships worldwide; and flexible over-the-air (OTA) device management; Cubic Telecom enables global scalability with local connectivity anytime, anywhere.
Based in Dublin Ireland, Cubic Telecom’s partners and customers include some of the world’s leading Fortune 100 tablet and notebook manufacturers, retailers, M2M and automotive companies. The company launched its connected platform in 2012 and is privately held with over $37.1 million in funding by Audi, Qualcomm and Sierra Wireless, among others. For more information, visit www.cubictelecom.com.
About AUDI AG
The Audi Group, with its brands Audi, Ducati and Lamborghini, is one of the most successful manufacturers of automobiles and motorcycles in the premium segment. It is present in more than 100 markets worldwide and produces at 16 locations in twelve countries. In the second half of 2016, the production of the Audi Q5 will start in San José Chiapa (Mexico). 100-percent subsidiaries of AUDI AG include quattro GmbH (Neckarsulm), Automobili Lamborghini S.p.A. (Sant’Agata Bolognese, Italy) and Ducati Motor Holding S.p.A. (Bologna, Italy).
In 2015, the Audi Group delivered to customers approximately 1.8 million automobiles of the Audi brand, 3,245 sports cars of the Lamborghini brand and about 54,800 motorcycles of the Ducati brand. In the 2015 financial year, AUDI AG achieved total revenue of €58.4 billion and an operating profit of €4.8 billion. At present, approximately 85,000 people work for the company all over the world, about 60,000 of them in Germany. Audi focuses on new products and sustainable technologies for the future of mobility.
Minister for Jobs, Enterprise & Innovation, Mary Mitchell O’Connor, is set to enable Irish SMEs involved in research and development activities, avail of the Knowledge Development Box taxation scheme.
The scheme, which sees profits from Irish inventions resulting from R&D activities in Ireland taxed at 6.25%, is to be made available to SMEs through a certification process overseen by the Patents Office.
Minister Mitchell O’Connor was given Cabinet approval for the publication of a Bill entitled Knowledge Development Box (Certification of Inventions) Bill 2016 to allow small and medium sized companies to avail of the Knowledge Development Box. Under the new scheme, the Patents Office will be the body certifying applications for inventions under the new certification scheme to check that they meet the criteria of being novel, useful and non-obvious.
The Bill, which is hoped, will be passed before the end of the year, will open up the opportunity for companies across a broad spectrum to pay lower taxes on profits from Irish-based research and development activities. This includes companies in incubation units right through to high-potential start-ups in all industry sectors once they are generating income resulting from research and development activities.
The Minister for Jobs, Enterprise and Innovation Minister, Mary Mitchell O’Connor, says the scheme should serve to significantly boost Irish innovation and investment in research and development.
“The aim of this is to boost and encourage Irish-based innovation. Developing new innovative products is high risk and can often take time to develop. This scheme will allow a company or a start-up re-invest in their business as they will be able to retain a greater proportion of their earnings. This is something that can specifically drive innovation in the Irish SME sector”.
“Furthermore, I see this scheme as assisting those companies that wish to scale-up. We have many terrific companies developing innovative products but are sometimes bought out before they develop their full potential. This scheme will assist companies achieve scale. Innovation is at the heart of our economic recovery and growth and when this legislation is enacted we will have in place a Knowledge Development Box to suit the needs of all enterprises, large and small,” said Minister Mitchell O’Connor.
Helpful Notes :
Companies with income arising from intellectual property of less than €7,500,000 annually will be able to participate when the Bill entitled legislation Knowledge Development Box (Certification of Inventions) Bill 2016 is effected which will be of direct benefit to companies of a relatively lower scale, with global income of less than €50 million.
Ireland is the first country world-wide to offer an OECD compliant Knowledge Development Box (KDB) offering certainty to global and Irish owned enterprises. The OECD nexus approach sets out the principles and guidelines under which income arising from Intellectual Property assets can qualify for a lower rate of tax under a KDB initiative. Ireland’s KDB rate is 6.25 % (half of the corporation tax rate of 12.5 percent) and is internationally competitive.
What is the Knowledge Development Box?
The KDB is a tax incentive policy tool to encourage innovation by applying a lower rate of corporation tax i.e. 6.25% on profits on intellectual property assets resulting from qualifying research and development carried out in Ireland.
Minister for Jobs, Enterprise and Innovation Mary Mitchell O’Connor T.D is currently on a 5-day IDA Ireland investment and marketing programme to the West Coast of the USA.
This visit will include one-on-one meetings with 11 companies considering new job-creation projects in Ireland. This is Minister Mitchell-O’Connor’s first major investment and marketing visit to the US since her appointment.
The Minister is accompanied by IDA Ireland Chief Executive Martin Shanahan on the visit to San Francisco and Los Angeles, which involves a total of 13 meetings and events. These include 11 one-on-one meetings with target and client companies considering new job-creation projects in Ireland. These 11 companies, mainly in the financial services, technology and life sciences sectors:
•Employ approximately 360,000 people globally
•Have total annual revenues of over $450billion
•Include multimillion dollar established companies as well as newer companies
•Include companies that already employ thousands of people in Ireland but are considering new investments, as well as companies considering locating operations here for the first time
The programme also includes an Enterprise Ireland networking event and an IDA Ireland client function.
Speaking before departing, Minister Mitchell-O’Connor said:
“This Government is committed to attracting more international companies to invest in Ireland. During this busy week I will be meeting 11 companies from a wide range of sectors that are considering creating new jobs in Ireland. When I meet senior executives from multinationals like these, they are highly impressed by what Ireland has to offer as a gateway to a European market. They are interested to hear about Ireland’s skilled workforce, our pro-business environment, our tax offering, our base of multinationals already here, and about developments that may affect our relationship with Europe such as Brexit. I look forward to communicating the clear message that Ireland is open for business and open for investment. I am confident that the discussions held this week will lead to jobs being created in the near future in cities and towns right across the country.”
New Limerick data centre accommodates growing EMEA demand for ACI’s Universal Payments solutions; also brings 50 new jobs
LIMERICK, IRELAND—October 17, 2016—ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time electronic payment and banking solutions, today announced the opening of its new European data centre. Located in Limerick, this state-of-the-art facility delivers the utmost in reliability, security and data privacy, further expanding world-class payments solution capabilities and capacity for European customers, comprising some of largest merchants, intermediaries and financial institutions, including the two biggest banks in Ireland.
In order to accommodate growing EMEA demand, the new fully redundant data centre was built and launched in record time, and meets the most stringent security and compliance standards. Moreover, it further leverages ACI’s product investments to make its Universal Payments solutions available to European companies through ACI’s private cloud.
The facility also brings job growth to the region. In partnership with IDA Ireland, ACI will add 50 new hires, on top of the current team of nearly 100. The company has had a presence in Limerick for ten years, cultivating strong talent as part of its long-standing internship program and collaboration with the University of Limerick.
To commemorate the data centre opening, ACI today welcomed senior dignitaries from across the country to visit the facility. Minister for Jobs, Enterprise and Innovation Mary Mitchell O Connor T.D. warmly welcomed the investment by ACI. “This new project, involving the construction of a new data centre in Limerick, is exactly the type of value added project we are pursuing. Hosting a data centre is a commitment for the long-term, given the scale of the capital investment involved. Ireland has attracted data centres from virtually all the major players over recent years and this is testament to Ireland and our agencies involved. ACI’s commitment is a great vote of confidence in both the infrastructure and skills available in the region. I wish ACI and its team continued success.”
The Minister for Finance Michael Noonan T.D. said: “I’m delighted to see ACI cementing its presence in the Limerick region with the addition of this data centre. A further 50 jobs and increased physical infrastructure is testament to ACI’s confidence in Limerick and its highly skilled workforce. As Minister for Finance, I have championed electronic payments and have overseen a move in Ireland toward more efficient and convenient uses of electronic payments. I am a firm believer in the work that ACI is doing and I am grateful to see that they are a firm believer in the people of Limerick and the broader region.”
Also speaking at the event, Minister for Employment and Small Business Pat Breen T.D. commented: “This is another very welcome announcement for the region and follows on from other recent significant announcements for Limerick. All jobs created have a positive knock on effect on the wider region. It is important that we continue to pursue opportunities for investment and job creation across all rural Ireland. Once again this investment is a testament to the skilled workforce and the attractiveness of the region. I wish the team at ACI every success for the future.”
IDA CEO Martin Shanahan said: “It is great to see this company, which has been extremely successful in Ireland and across Europe, continue to grow and develop its operations here in Limerick. Supporting established companies like ACI is a key focus for IDA. The addition of this new data centre confirms ACI’s ongoing commitment to the region, and its continued growth presents further employment opportunities for the great pool of talent in Limerick and the wider region. I wish ACI continued success here.”
“We are very excited about our new European data centre and the tremendous overall opportunities for ACI in the region, which is testament to our great team and our powerful Universal Payments offerings,” said Phil Heasley, president and CEO, ACI Worldwide. “As more organizations embrace private cloud solutions to gain a competitive edge, they’re turning to ACI; our dedicated cloud payments offerings provide the security, privacy and reliability that customers need and expect from mission-critical payment solutions.”
ACI provides world-class electronic payments, banking, and fraud protection solutions and services to more than 4,600 financial institutions, retailers, and billers around the world through a private cloud, processing more than 35 million transactions per day
Minister for Jobs, Enterprise & Innovation Mary Mitchell O’Connor today announced that Technical Support Services company Trusource Labs is to establish an International Operations Centre in Limerick, creating 134 jobs over three years.
The project is supported by the Department of Jobs, Enterprise & Innovation through IDA Ireland.
Trusource Labs is headquartered in Austin, Texas. The privately held company services technology companies that specialise in the Internet of Things and providing support for companies that use Apple devices.
The company delivers innovative solutions for connected devices and business critical software solutions by providing an effortless technology support experience that strengthens customer relationships. Services focus on minimising the need for customers to phone for technical support, including working with companies and their engineers when products are at beta stage and focusing on ways to enhance the customer’s experience from purchase, installation and activation of the product or service. The company helps develop content online and ‘in the box’ for troubleshooting, providing omni-channel support with phone, email, social, chat and video in multiple languages.
Minister for Jobs, Enterprise and Innovation Mary Mitchell O’Connor said: “This is another great boost for Limerick and the region. I am delighted to be in Limerick again today to welcome a further 134 jobs to the city and the region. As Minister my priority is to ensure continued jobs creation right across the country. These are exactly the kind of high quality technical jobs that we seek to attract and it is a strong vote of confidence for Ireland and the Irish workforce that Trusource Labs has decided to establish its International Operations Centre here. I wish the Trusource Labs team all the very best for their future in Ireland.”
The company’s Co-Founder Alton Martin said: ‘We are enthusiastic to bring our innovative customer experience model to Ireland. It is our first step in a larger global growth plan, and we are grateful for IDA’s partnership and support.”
IDA’s CEO Martin Shanahan said: “This investment by Trusource Labs is great news. Delivering 134 jobs in three years will make a strong regional impact in Limerick and will be a valuable reference case for IDA in attracting similar high growth technology companies to the region. I congratulate the company and offer the continued support of IDA Ireland in the future.”
For information on the new roles go to: https://www.trusourcelabs.com/careers/
New CSO figures showing that the Live Register has fallen below 300,000 for the first time since 2008 have been welcomed by Minister for Social Protection Leo Varadkar and Minister for Jobs, Enterprise & Innovation Mary Mitchell O’Connor.
Now standing at 286,490, the unadjusted Live Register has dropped below 300,000 for the first time since September 2008, exactly eight years ago. This is a year on year decrease of 13.92%. It’s further evidence that good progress is being made in tackling joblessness and helping people back into work.
Minister Varadkar said: “Three major milestones have now been passed, with the Live Register falling below 300,000, unemployment falling from its peak of 15% to below 8%, and the number of people employed exceeding two million, all for the first time in eight years.
“Since coming to Government we have essentially halved unemployment, and my objective for the next few years is to halve it again. And I can now say with certainty that we will exceed our target for 2016 to reduce the number of people in long-term unemployment by 20,000.
“However, as unemployment goes down it gets harder to keep bringing it down. As indicated earlier this week, my target is to bring unemployment down to between 5% and 6% and long-term unemployment to 2.5%.
“We will do this through activation measures like: one-to-one engagements with jobseekers; making work pay through sustainable wage increases, effective tax reductions and new social insurance measures like paternity benefit; promoting financial supports like JobsPlus and the Wage Subsidy Scheme; developing an Action Plan for Jobless Households; reforming existing work schemes like Community Enterprise and Tus; using incentives like JobsWeek to match jobseekers with employers; and developing initiatives across the whole of Government in education, training, housing and childcare.”
Minister Mitchell O’Connor said: “Every job is vital and getting the Live Register figure below 300,000 is a major milestone. It follows the most recent employment figures which show that now 2million people are at work for the first time since 2008. Employment has increased in every region – in some places more than others but every part of Ireland has seen employment levels improve from their lowest points.
“Later this month I will be finalising regional jobs reports and they will demonstrate that in all but two regions – the South-East and the Midlands, employment levels are within 1% of the national average.
Every job is precious. Every job created has a real effect on men, women, and children and the wider community. It gives people self-respect, dignity and enables them to support their family and have a better quality of life. That is why we cannot be complacent about job creation, but I am happy to report that there has been a momentum of job creation announcements in recent weeks and months throughout our regions. I want to ensure that this continues, creating the right environment for job growth right across the country in all areas of Ireland is my key priority and these live register figures issued today by the CSO show they are going in the right direction but we must continue as a Government to work hard to ensure that this continues.”
Almost nine out of ten Irish companies plan to extend into new international markets over the next 12 months according to a new survey by Enterprise Ireland, the state agency responsible for helping companies to grow their exports internationally.
More than 140 international Market Advisors from over 30 Enterprise Ireland overseas offices have returned home to assist over 400 client companies with developing new global export plans in the context of Brexit during the week.
The survey results were announced this morning at International Markets Week 2016 in Dublin’s RDS where the Taoiseach, Enda Kenny TD officially launched Enterprise Ireland’s Global Ambition campaign.
Minister for Jobs, Enterprise and Innovation, Mary Mitchell O’Connor TD said: “I have been greatly encouraged by Enterprise Ireland’s immediate reaction to the UK referendum – contacting clients, setting up a helpline and publishing a comprehensive guide for Exporters to the UK. This week is all about exports, encouraging more Irish companies to export internationally and to scale globally.
By utilising the expertise of experienced Market Advisors, all the companies attending International Markets Week will get the best possible advice for optimising their export plans”.
According to the results of the survey of 356 companies registered to attend International Markets Week:
The top 3 export target markets are USA/Canada, Northern Europe and the United Kingdom.
• These market regions are closely followed by Southern Europe/Middle East/Africa, Asia and Central Europe/Eastern Europe/CIS and Russia.
• Nearly one in five companies with global expansion plans indicated an interest in Latin America.
• Four out of five companies are active in the UK market.
• Eighty percent of those active in the UK said they plan to deepen their involvement in the UK market.
Speaking at the International Markets Week Breakfast Briefing, the Taoiseach said: “Enterprise Ireland has been proactive in assisting exporters. Staff from their overseas offices have travelled home from four corners of the world to meet with hundreds of Irish exporters who are making their plans for the next year and beyond. This is an important event, particularly in the context of the UK’s decision to leave the EU which poses new challenges for Irish exporters. The new Global Ambition campaign launched today reinforces Enterprise Ireland’s work to encourage more exporters to scale up their export plans and advise those considering international expansion”.
Julie Sinnamon, CEO, Enterprise Ireland said: “Today’s survey results reflect that Irish companies have ambitious plans for their future exports and they’re not afraid to travel far and wide. But we need to continue to drive the ambition of Irish exporters, especially in the aftermath of Brexit and now that we have a clear indication on the timing of Article 50.
“That’s why today we are launching our new Global Ambition initiative to encourage, educate and enable exporters to develop their export plans and expand on a significant international scale. The campaign features the stories of ambitious, successful Irish exporters and is part of Enterprise Ireland’s response to the UK Referendum result.
“Through our expertise and overseas network, Enterprise Ireland is identifying options in all international markets. Our intention is to work with companies to drive their innovation and competitiveness and create companies of scale at an international level”.
To open International Markets Week to clients, a panel of experts participated in a Breakfast Briefing alongside Government Ministers to discuss what it takes to secure and optimise the global future of Irish companies in a time of change, under the theme of “Succeeding Globally – Brexit Challenges and Opportunities”.