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Tech firms 'ripe for investment'

Published 08/04/2011

Northern Ireland's high-tech companies are best placed to benefit from venture capital funding in the coming year, a survey carried out by InterTradeIreland has found.

The poll, carried out among investors at the group's annual Venture Capitalist Conference in Dublin, found 75% of venture capitalists (VCs) believe companies involved in digital and social media and ICT will be the key beneficiaries.

It also found VCs believe tax incentives for high net worth individuals and further Government sponsorship of co-investment funds is needed to stimulate more investment and support the venture capital industry.

Niall Olden of Kernel Capital said: "Historically, there has been a shortage of VC funding in Northern Ireland relative to the scale of the opportunity in the province and the quality of start-ups there.

"We are confident that high-quality technology start-ups are ripe for investment and we are committed to supporting dynamic, innovative companies that are driving job creation."

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