END OF YEAR STATEMENT 2017

Transcription

1 END OF YEAR STATEMENT 2017 BUILD SCALE EXPAND REACH DELIVER GLOBAL AMBITION #GlobalAmbition

2 Enterprise Ireland End of Year Results ,338 employed by Enterprise Ireland supported companies 19,332 total new jobs 10,309 net jobs created 65% client employment outside Dublin +5% employment growth overall West +7% Mid West +7% North West +7% Midlands +6% South +6% North East +5% Mid East +4% South East +4% Dublin +4% 8% Construction 6% Digital Tech 4% Food EMPLOYMENT GROWTH PER COUNTY Carlow 5% Kerry 7% Louth 5% Tipperary 8% Cavan 5% Kildare 5% Mayo 5% Waterford 4% Clare 4% Kilkenny 2% Meath 4% Westmeath 7% Cork 6% Laois 8% Monaghan 4% Wexford 3% Donegal 4% Leitrim 12% Offaly 5% Wicklow 4% Dublin 4% Limerick 9% Roscommon 5% Galway 10% Longford 5% Sligo 11% Source: The Annual Employment Survey carried out by the Department of Jobs, Enterprise and Innovation 2

3 2017 Outcomes BUILD SCALE INNOVATE EXPAND REACH ,391 new High Potential Start-Ups supported by Enterprise Ireland R&D approvals to client companies > 100k new overseas Total Exports to contracts backed by Enterprise Ireland 26bn (+26%) m 350 new start-ups under Competitive Start Funds (CSFs) Horizon 2020 funding secured to date new overseas presences 66% of exports established with the support beyond the UK of Enterprise Ireland 63 1, female-led start-ups collaborative innovations between industry and Higher Education Institutes first-time exporters outside the UK UK consolidation: participants on entrepreneurship programmes Technology Gateway projects for industry Enterprise Ireland client investments > 500K 8, participants on Local Enterprise Offices core business development programmes innovation vouchers redeemed international buyer visits with the help of Enterprise Ireland 3 33% of exports

4 Build Scale HPSU 90 Approvals 91 CSF Approvals Female-led 63 Start-Ups 7 Fintech Start-Up Investments 90 NEW HIGH POTENTIAL START-UPS APPROVED 90 new High Potential Start-Ups were approved in HPSUs are defined by their potential to become exporting businesses which have 10 staff and 1 million in sales within three years of starting up. After being approved for HPSU status in 2017, SwiftComply will represent Ireland for a chance to win $1 million in funding at the StartUp World Cup. Solvotrin, approved as a HPSU in 2010, announced expansion to 7,000 UK stores this year, while Run Angel, which received HPSU approval in 2016, is targeting a 3.5 million increase in sales. L-R: Joe Healy, Divisional Manager, HPSU, Lindsey Nguyen, co-founder and head of product, SwiftComply, Ryan Hamilton, associate, Fenox Venture Capital. NEW FUND ANNOUNCEMENTS New fund announcements involving Enterprise Ireland included Seroba Lifesciences, Frontline Ventures, ACT Venture Capital, and Suir Valley. These four funds combined brought, on first closings, 188 million of available new capital to the market. AWARD WINNING START-UPS Solar Pump Solutions was named overall winner of the 2017 Enterprise Ireland Innovation Arena Awards at the National Ploughing Championships, while Tractor Safe Lock was awarded the People s Choice Award. Tony McEnroe of SiriusXT was presented with the inaugural Enterprise Ireland High Potential Start-Up (HPSU) Founder of the Year Award. Finola Cliffe of HookeBio was presented with the One to Watch Award at Enterprise Ireland s Big Ideas GLOFOX, AYLIEN & TANDEM HR RAISE 2m EACH Glofox closed 2 million in Series A funding from investors including Notion Capital, Partech Ventures, Tribal.vc and Enterprise Ireland. AI startup AYLIEN announced 2 million investment, while Tandem HR Solutions attracted 2 million in Seed Funding. 91 COMPETITIVE START FUNDS APPROVED ACROSS 9 CALLS Competitive Start Funds (CSFs) support early stage start-ups to accelerate growth. CSFs in 2017 included a call for up to 500k in funding targeting Experienced Business Professionals, and 1 million in funding for international entrepreneurs and recent graduates. A call for funding worth up to 750k targeted companies in manufacturing and internationally traded services. 1.5m in funding was made available through Regional Entrepreneurship and Fintech CSFs. RESEARCH COLLABORATIONS BETWEEN SMES AND THE PUBLIC SECTOR Small Business Innovation Research (SBIR) collaborations were launched between innovative SMEs and the public sector, including a call to find solutions to wildlife activity around Dublin Airport s runways and a call by Irish Rail to develop a preventative warning system against railway bridge strikes. DIRECT EQUITY INVESTMENTS More than 200 new direct equity investments amounting to over 30 million was invested in new and existing client companies, alongside investments from Irish and international VCs, Institutions, private investors and promoters. 28 million was generated in income from Enterprise Ireland s direct equity investments in FEMALE ENTREPRENEURSHIP 42% OF CSF APPROVALS TO FEMALE-LED START-UPS The Female Entrepreneurship Unit had another strong year, with 28% of High Potential Start-Up approvals going to female-led companies. 42% of CSF approvals were for companies led by female entrepreneurs. 63 female-led start-ups received funding in total. It was the second year of activity for Enterprise Ireland s dedicated female CSF fund which runs in tandem with a tailored female accelerator, The Innovate Programme. Over 125 business women and entrepreneurs attended the Fuelling Ambition Steps to Success Roadshow. L-R: Tom Early and Sarita Johnston from Enterprise Ireland, Phuong Vu and Trung Nguyen from Bee Instant Monitoring, Alison Cowzer from East Coast Bakehouse and Dragon s Den. FINTECH START-UPS EACH RECEIVE 50K IN FUNDING It was the second year of the dedicated Fintech CSF programme, with early stage financial technology start-ups receiving 50k each through the fund. FOUR REGIONAL ACCELERATORS LAUNCHED Four Regional Accelerators were launched to enhance the High Potential Start-Up ecosystem: Propeller Shannon in Clare, NDRC@ PorterShed and BioExel in Galway, and NDRC@ArcLabs in Waterford. The Accelerators focus on the Digital Technology, Aviation and Medtech sectors and will provide investment and mentoring to more than 75 companies over a two-year period. 4

5 Innovate R&D approvals 99 > 100K Collaborative 1,065 Innovations Higher Education 15 Spin-Outs Horizon m Funding FAST-TRACK AGILE INNOVATION FUND LAUNCHED Up to 150,000 available for R&D through streamlined application An Agile Innovation Fund was launched to support companies to respond more quickly to market opportunities and challenges, including those posed by Brexit. Offering fast-track approval and a streamlined online application process, companies can access up to 50% to support product, process or service development projects with a total cost of up to 300,000. Paul Stack, Operations Director, Marco Beverage Systems with Julie Sinnamon, CEO, Enterprise Ireland, launch the Agile Innovation Fund. 475m HORIZON 2020 FUNDING FOR IRISH COMPANIES AND RESEARCHERS Ireland has won 475 million in competitive funding from the Horizon 2020 programme to date. Horizon 2020 is the EU framework programme for research and innovation, running over seven years from 2014 to 2020 with a budget of 80 billion. More than 1,100 applications have been successful for 536 higher education researchers and 430 companies, placing Ireland s success rate above the EU average. IRELAND AMONG HIGHEST SUCCESS RATES FOR SME INSTRUMENT EUROPE 2017 At 13%, Ireland had one of the highest success rates for the Horizon 2020 SME Instrument in Europe 2017, compared to an average of 6%. Eight Irish companies secured almost 16 million from a total budget of 297 million under phase 2 of the SME Instrument this year. They were among 210 European SMEs that achieved phase 2 funding, through which projects receive up to 2.5 million to finance innovation. 436 TECHNOLOGY GATEWAY PROJECTS FOR INDUSTRY 17% more than projects were delivered between companies and experts in 15 Technology Gateway centres, located in Institutes of Technology around Ireland. These collaborations help Irish companies to find solutions to technical challenges and implement innovations that make their solutions more competitive. DAWN FARMS INVESTMENT CREATES 150 JOBS Food: Dawn Farms announced plans to create 150 new jobs over the next five years. The investment, which will amount to over 25 million over the period, is focused on enhancing the company s R&D capabilities at its Meat Science & Innovation Centre in Naas. Julie Sinnamon CEO Enterprise Ireland and Bernd Reichert, Head of SME Instrument Horizon m INVESTED IN TWO NEW TECHNOLOGY CENTRES Two new technology centres opened in Irish Manufacturing Research received an initial investment of 15 million under an Enterprise Ireland and IDA Ireland programme to create 40 hi-tech jobs. Meat Technology Ireland also launched to create a one-stop shop for meat processing research and technology. A record-breaking 785 companies are benefitting from the joint Enterprise Ireland and IDA Ireland s Technology Centre programme. DAIRYGOLD OPENS 86m STATE OF THE ART NUTRITIONALS CAMPUS IN MALLOW Dairygold opened an 86 million Nutritionals Campus in Mallow, marking a significant milestone in the co-operative s post-quota expansion plan. Following the investment, the state of the art milk processing facility is capable of producing the full range of nutritional dairy ingredient powders in volumes of up to 1,750 tonnes per week. LAUNCH OF BIOEXEL ACCELERATOR PROGRAMME AT NUI GALWAY The launch of a BioExel Accelerator at NUI Galway, supported by Enterprise Ireland, was announced by the then Tánaiste and Minister for Business, Enterprise and Innovation Frances Fitzgerald TD. The programme further enhances the medical technology sector startup ecosystem within Ireland and will attract global talent to the Galway region. IRISH SMEs FIRST FOR INNOVATION SAYS EU COMMISSION The European Commission s 2017 Innovation Scorecard ranked Irish SMEs number one for innovation. A strong workforce and attractive research systems contributed to Ireland s ranking. 5

6 Expand Reach New Overseas 1,391 Contracts New Overseas Presences Ireland New Exporters 56 outside the UK Buyers to 57 MINISTERIAL-LED TRADE EVENTS Enterprise Ireland organised 57 Ministerial-led international trade events in 2017, including trade missions to Canada, Singapore and China, the UAE and Oman. Led by Irish Government Ministers, these trade missions are a central element of Enterprise Ireland s strategy for : Build Scale, Expand Reach. The events support the key goal of securing high-level international market access for Irish companies aiming to grow their businesses overseas and increase domestic employment. THREE DAY TRADE MISSION TO CANADA INCLUDES FIVE PARTNERSHIP ANNOUNCEMENTS During a trade mission in May that supported Irish companies to build relationships with new and existing Canadian customers, Irish company Initiafy announced the expansion of their Toronto-based team. HealthBeacon opened a new office in Montreal. Leading Edge Group announced a partnership agreement with the City of Mississauga municipality. OnePosting, Sport LoMo and Tekelek also announced partnerships with leading Canadian companies. IRISH-POLISH INNOVATION In February, the then Taoiseach Enda Kenny TD addressed the first Irish- Polish Innovation Forum organised by Enterprise Ireland in Warsaw, highlighting the importance of innovation to Irish economic growth during his official visit to Poland. Ding, iheed and madme announce deals in Oman Ding, iheed and madme announced new deals with Oman partner companies during Enterprise Ireland s trade and investment mission to the region in November. Ding signed agreements with Asia Express Exchange Oman and OIFC Oman. iheed secured a 3 million investment by Atlantic Bridge, Oman Technology Fund, ACT Venture Partners and private investors, and madme announced a partnership with Oman s Omantel. DEALS WITH UAE PARTNERS AT DUBAI AIRSHOW 30 clients joined a trade mission to the UAE and Oman in November. Eight companies, including Dublin Aerospace, Aerospace Software Development and the Atlantic Aviation Group, exhibited at the Dubai Airshow. Botany Weaving announced it had secured a multi-million dollar deal with a UAE airline, TIC signed a contract with a UAE airport and Flightman announced that Royal Jet has selected them as a provider. IMMEDIS TO DOUBLE WORKFORCE BY 2020 Immedis, a subsidiary of Irishowned Taxback Group, announced a recruitment drive to service its increasing client base in North America and Europe. 80 roles will be located in the company s New Jersey, Kilkenny and Dublin offices. The company closed a $10 million acquisition of US international payroll company, Expaticore, in May. AUSTRALIA TRADE EVENTS COMBILIFT SIGNS $1m CONTRACT WITH CIVMEC IN AUSTRALIA Combilift signed a contract worth an additional $1 million to the Irish company with Civmec, a construction and engineering company, during an Enterprise Ireland trade and investment mission to Australia in October. CUBIC TELECOM SIGNS MOU WITH TELSTRA WHOLESALE Cubic Telecom, a leader in global connectivity solutions for the automotive industry, signed an MOU with Telstra Wholesale, a member of the Telestra Group, to deliver a unique connectivity experience to its automotive customers in Australia. The deal signing ceremony formed part of the Irish Government trade mission to Australia, led by President of Ireland Dr. Michael D. Higgins, in October. FIVE IRISH COMPANIES ANNOUNCE EXPANSIONS IN AUSTRALIA GECKO Governance, Prodigy Learning and WeBringg announced expansions into the Asia Pacific market, with the opening of new offices in Sydney and Brisbane, Australia. Poppulo announced that it is targeting Australia in the latest phase of its global expansion, with clients such as Foxtel, Caltex and CHEP. Akari Software also announced that six universities in Australia and New Zealand are deploying their software, with combined contracts valued at over 5 million. AEROGEN OPENS GERMAN COMMERCIAL HQ A trade visit to Germany in November, led by Minister of State for Trade, Employment, Business, EU Digital Single Market and Data Protection, Pat Breen TD covered two worldrenowned trade fairs, Medica and Agritechnica, as part of Enterprise Ireland s Irish Advantage export promotion campaign. Minister Breen also officiated at the opening of Aerogen s German commercial headquarters. L-R: H.E. Jim Kelly Ambassador of Ireland to Canada, Taoiseach Leo Varadkar TD, Neil Cooney, Enterprise Ireland Canada Manager and Sean Davis Enterprise Ireland North America & Canada Director, during the Taoiseach s visit to Canada in August

7 Delivering Global Ambition >x >x x x >x x RECORD 600 COMPANIES ATTEND INTERNATIONAL MARKETS WEEK 600 client companies attended International Markets Week over three days at the RDS, as companies worked to plan their diversification strategy in response to Brexit. The figure represented a 33% increase on More than 130 international Market Advisors from Enterprise Ireland s 33 overseas offices participated in 2,000 client meetings, advising companies on export opportunities and how to diversify into new markets in response to Brexit. For the first time, IMW featured a dedicated Brexit Zone, offering assistance to 176 client companies exporting to the UK. #IRISHADVANTAGE DRIVES INTERNATIONAL BUYER INTRODUCTIONS FOR IRISH BUSINESSES A new Irish Advantage campaign was launched to promote the advantages of sourcing Irish suppliers to buyers in key export markets where trade opportunities and Free Trade agreements exist. The first phase of the campaign focused initially on two sectors Construction and Medtech services across three key markets - France, Germany and the Netherlands. The campaign will scale into a wider campaign encompassing multiple sectors and a wider mix of markets throughout BREXIT #PREPAREFORBREXIT CAMPAIGN LAUNCHED The #PrepareforBrexit campaign includes a range of supports that help Irish companies to respond to challenges in the market. Funding up to the value of 5,000 is available to help exporting clients to support the development of a business action plan. An additional 39 staff were allocated to strategic target zones and new sector and market pathfinders were appointed. 2,000 COMPANIES HELPED BY BREXIT SME SCORECARD 2,000 companies used Enterprise Ireland s Brexit SME Scorecard, an online tool that enables companies to self-assess exposure to Brexit. Based on information the user submits, the Scorecard delivers an instant report, which includes actions, resources, and information about events that can help to prepare for Brexit. L-R: Tom Kelly, Enterprise Ireland, Seán Kinsella, CTO, PMD, Anne Dorney, CFO, PMD, Minister Pat Breen, Myles Murray, CEO, PMD, at Medica 2017 in Germany. 21 REGIONAL PROJECTS WIN 30.5m IN COMPETITIVE FUNDING The results of the first round of the new 60m competitive Regional Enterprise Development Fund were announced by Minister for Business, Enterprise and Innovation, Heather Humphreys TD. 21 successful applicants representing all regions of the country secured up to 30.5m for their projects in the first competitive call. Over 14m was approved for projects in the southern region, over 11m for projects in the eastern and midlands region and over 5m was approved for the northern and western region. L-R: Minister for Business, Enterprise and Innovation, Heather Humphreys, TD, with Barry Kennedy, CEO, IMR and Julie Sinnamon, CEO, Enterprise Ireland at the Regional Enterprise Development Fund announcement. #PREPAREFORBREXIT REGIONAL ROADSHOWS As part of the #PrepareforBrexit campaign, a series of nationwide Brexit Advisory Clinics featuring expert speakers took place throughout the country to encourage clients to adapt their business strategies. Regional roadshows and clinics were held in locations from Donegal to Kerry in May, November and December. The core objective of the events is to provide information and support to companies all around the country in taking immediate action to address their exposure to Brexit. 7

8 Delivering Global Ambition MED IN IRELAND CONFERENCE WELCOMES 300 INTERNATIONAL BUYERS TO DUBLIN 73 Irish medical technology companies met with over 300 international bluechip company buyers from 42 countries at Enterprise Ireland s biennial Med in Ireland event in the RDS. Med in Ireland is Ireland s largest medical technologies event showcasing the entire spectrum of the Irish Medtech sector and attracting significant interest from the international Medtech and healthcare community. For the first time, Med in Ireland hosted a dedicated Medtech Innovation Showcase, highlighting what drives the success of Irish companies, from funding to collaboration with the research community. LAKELAND DAIRIES OPENS 40m EXPANSION OF OPERATIONS IN CAVAN Lakeland Dairies new 40 million technologically advanced milk powder plant in Cavan will produce 160,000 tonnes of milk powders and 50,000 tonnes of butter on a single site. The Bailieboro facility is among the most advanced milk powder plants in the world and one of the largest such plants in Europe. 65% OF CLIENT COMPANIES PLAN TO ENTER EUROZONE FOR FIRST TIME IN NEXT 12 MONTHS A survey of client companies attending International Markets Week showed that the Eurozone is the key region where they see the greatest opportunity for their business, with almost two out of three of those who are not currently exporting to the Eurozone planning to do so in the next 12 months. MINISTER BREEN WELCOMES OVER 200 COMPANIES TO MEET THE BUYER L-R: Minister of State for Trade, Employment, Business, EU Digital Single Market and Data Protection, Pat Breen TD, Kevin Sherry, Executive Director Global Business Development, Enterprise Ireland and Deirdre Glenn, Director, Lifescience & Food Commercialisation and Manager, Lifesciences Sector, pictured at Med in Ireland L-R: Michael Hanley Group CEO Lakeland Dairies, Orla Battersby, Head of the Food Division, Enterprise Ireland, Michael Creed TD, Minister for Agriculture, Food and the Marine, Minister Heather Humphreys TD, and Alo Duffy, Chairman, Lakeland Dairies. BUSINESS DEVELOPMENT TRAINING INCREASE 8,118 participants undertook Local Enterprise Offices core business development programmes, a 7% increase on The programmes help companies to increase competitiveness, innovation and management capabilities and support owners to achieve the potential of their enterprises. A total of 350 attendees from over 200 construction, engineering, mechanical and electrical companies from all over Ireland were welcomed by Minister of State for Trade, Employment, Business, EU Digital Single Market and Data Protection, Pat Breen to Enterprise Ireland s Meet the Buyer event for the construction of the new children s hospital. In association with the National Paediatric Hospital Development Board, the business event took place at the Royal Hospital Kilmainham in October. INNOVATION ARENA PRIZE FUND OVER 80,000 Agri: 69 Irish agri companies showcased products and innovations at the Innovation Arena at the National Ploughing Championships. This year s Arena focused on putting Irish agri-innovations on a world stage and included seminars on Brexit, Agri-Careers and Global Markets as well as facilitating networking opportunities. Innovation Awards winners were announced across a range of categories including Agri Engineering and Agricultural Technology. Tractor Safe Lock, a device that automatically engages the handbrake in a tractor when the operator leaves the seat, was awarded the Innovation Arena s People s Choice Award in association with Enterprise Ireland. Jack Nagle, Tractor Safe Lock, People s Choice Award winner at the 2017 Innovation Arena at the National Ploughing Championships. For more information on events and client supports visit Enterprise Ireland, The Plaza, East Point Business Park, Dublin 3. Tel: (0) Enterprise Ireland January