Belfast Telegraph

Thursday 18 September 2014

Start-ups to create 218 new jobs

Enda Kenny said Ireland is one of the most exciting places in the world to create the businesses of tomorrow

Almost 220 jobs are to be created by entrepreneurial start-ups over the next 12 months.

The posts will be available in 30 firms backed by Dublin Business Innovation Centre (Dublin BIC).

Announcing the jobs, Taoiseach Enda Kenny said Ireland is one of the most exciting places in the world to create the businesses of tomorrow.

"The work of the Dublin Business Innovation Centre has been vital in building this reputation," he said.

"Job creation is the Government's top priority and I'm delighted that 218 new jobs are being created by Dublin BIC firms.

"Small firms are vital to job creation and the Government's Action Plan for Jobs aims to create a more supportive environment for entrepreneurs and small businesses to flourish."

Dublin BIC was established in 1988 as part of a national and European organisation of business and innovation centres which identify, select and support entrepreneurial start-ups.

Firms with the new jobs include Davra Networks, EmpowerTheUser, iCabbi, Learnosity, MMSOFT Design, OpenJaw Technologies, Point of Care, Stratus5 and SafeFood 360.

Des Fahey, chief executive, said international research shows 70% of net new job creation is generated by high growth companies that are less than five years old.

"We are an organisation with a track record of enabling entrepreneurs to have the best chance of succeeding," he said.

"Our objective is to double our capacity over the next five years to assist budding entrepreneurs, in Dublin and surrounding areas, realise their ambitious business plans thereby creating additional economic wealth and employment in Ireland."

Elsewhere a study revealed Dublin BIC-backed entrepreneurial start-ups employed 2,428 people directly and 2,032 indirectly in 2012, when it was responsible for more than 22m euro of early stage direct funds being invested into some 100 start-up companies.

The report by DKM Economic Consultants found 82% of Dublin BIC supported companies survived the critical first five years, compared to an average of 61% nationally, while 93% expect to increase employment over the next year.

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