supporting entrepreneurship - isme · why start-ups are important 1. jobs: 2/3 of all new jobs 2....
TRANSCRIPT
Supporting Entrepreneurship Julie Sinnamon, CEO
24 Oct 2014
For today 1. Why entrepreneurship is important
2. How Ireland compares
3. National Entrepreneurship Strategy
4. Enterprise Ireland Focus
5. Priorities Going Forward
6. Irish Entrepreneurship Success Stories
Why start-ups are important 1. Jobs: 2/3 of all new jobs
2. Exports: ‘..higher employment and national income intensities of indigenous exports means domestic export growth is one of the core drivers in the Irish economy.’ Constantin Gurdgiev
3. Innovation: entrepreneurship drives innovation in the market place increased productivity and cost efficiencies
4. Sectors of future: start-ups are one of the means by which new sectors take root in Ireland
5. Regional development: start-ups are lifeblood of local economies
Impact on prosperity
Towns and villages across Ireland
Full Time
Jobs
Part-Time
(Other)
Jobs
Dublin 51,224 12,576
Rest of Country 98,494 13,456
Jobs and economic impact EI Clients Employment = 175,570
Spend in the Economy = €20bn
IDA Clients Employment = 161,112
Spend in the Economy = €21bn
€14bn
How Entrepreneuial is Ireland? • #1 country for doing business 2013 by Forbes
• #2 Rate of early stage entrepreneurial in EU-15
• #9 across the EU-28
• Higher percentage of ‘established entrepreneurs’ as a percentage of population
• Higher percentage of start-ups with export dimension (66% in Ireland v 54% european av)
GEM Report 2013 • 32,000 thinking of starting a new business
• 15,200 businesses actually started
• Highest level of new business creation since downturn
• 81% motivated by opportunity perception
• 85% expect to become employers (12% > 20)
• High levels of international growth aspiration
Underlying Strengths: Ireland ranks 15th out of 185 economies in terms of ‘ease of doing
business’ (highest ranked euro area country)
IMD World Competitiveness 2013 ranks Ireland:
• 1st for flexibility and adaptability of workforce
• 1st for attitudes towards globalisation
• 2nd for unit labour costs in manufacturing sector (% change)
• 3rd for availability of skilled labour
Government Priority • ‘Our ambition is for Ireland to be among the most entrepreneurial nations
in the world ... a world-class environment in which to start and grow a buisness’. APJ 2014
• “Two thirds of all new jobs come from start-ups in their first five years of existence.. a range of measures to provide better supports in this area.”
Richard Bruton, TD, Minister for Jobs, Enterprise and Employment
• “Part of my agenda, is to make it as easy as possible to start a business and create jobs....” Minister for Business & Employment, Ged Nash TD
National Entrepreneurship Policy Published Oct 2014
Aims to create 93,000 jobs from start-ups by 2020
– Support the creation of 3,000 more start-ups per annum
– Increase the survival rate in the first five years by 25%
– Improve the capacity of start-ups to grow to scale by 25%
Enterprise Ireland - Focus
Entrepreneurs &
Ambitious Business
Owners
Exports
€18bn
300,000
Jobs
In
Ireland 5,000 Indigenous
companies
How we work
How we support Start-ups:
• Funding, mentoring, incubation
• Foster innovation: new products and processes
faster, better than the competition
• Plug into 3rd level, technology centers and
gateways to develop competitive edge
• Management Development Training
• Market entry - open doors of opportunity for Irish
companies in export markets
All Entrepreneurs
Microenterprise
HPSU
Established Co
Established Cos
of Scale
Broader Remit
15,000 new businesses
LEO Clients
LEOs & EI – working together
• Regional Enterprise Development Plans
• Roll out modular training programmes
• Support evaluations and approvals
committees
• Ensure adequate staffing with the
appropriate skillset to service the Micro
Enterprise community
• Communications group to promote
positive performance and activities across
the LEOs
Centre of
Excellence:
To support a
vibrant micro
enterprise sector
Continue to support HPSUs
Strategic Ambitions
• “Best small country in the world to start a
business”
• Strong Cohort of Start-Ups of Scale
• Higher Numbers that IPO
• Diversity of Promoters, Sectors, & Regions
Challenges
• Scale at all stages of growth
• Exports are key enabler
• Funding
• Capability to scale
• Skills
• The Ireland Offer
• Diversity of founders
Reponding to challenges • Tailored client engagement model – focus on scale
• Lead national export drive
• Support initiatives to increase working capital support for SMEs
• Routes to IPO
• Drive efficiency via lean programmes
• Cascade Management Develpment Programs / peer to peer learning
• Skills Champion
• Champion issues that impact on Ireland’s offer
• Target under-represented sources
Targeting under-represented sources
• Spin-outs from 3rd level
• Females
• Inward entrepreneurs
• Youth
Where do entrepreneurs come
from?
39%
34%
12%
15%
Indigenous
MNCs
3rd Level
Overseas
Most Enterprise Ireland assisted Entrepreneurs come from existing Management
Positions within either indigenous firms or Multi-national Companies
MNCs are a rich source • Trinity Biotech - Founder Jim Walsh ex Cambridge Diagnostics
• Eirgen Pharma - Founder Patsy Carney ex Ivax Pharmaceuticals Ireland
• Socialtram – Founder Gaston Irigoyen ex Youtube and Google
• Moqom – Founders ex Ericsson
• Upfront Analytics – Founders are ex Disney
• AMCS – Founders Jimmy Martin ex Analog Devices and Austin Ryan ex Ericsson
• Asavie – Founder Ralph Shaw is ex Baltimore
• Aspire – Founder Bill Walsh is ex Ericsson
• Aspiracon – Founder Pat Lucey ex Motorola
• Cloudium - Founder John Hickey ex Avocent
• Equiendo – Founder Cyril Murphy ex Esat Digifone
• Cape Technologies – Founder Philip Sharpe ex Ericsson
Inward Entrepreneurs • Target marketing campaign, using Diaspora
• Dedicated €10 million International Start-Up
Fund
• 17 Entrepreneurs (re)located their start-up to
Ireland with EI support in 2013
• From UK, US, France, Argentina, Italy, Hungary,
Spain, Denmark
• Only half are Irish originally
• Majority locate in Dublin
• Majority are in IT sector
Female Entrepreneurs • EI’s ‘Ambitious Women’ program
• Targeted Promotional Campaign
• 41 start-ups supported 2013
– HPSU (14)
– Competitive Start Funds (27)
– 2012 16 projects
Equilume
Eveo Solutions
ViddyAd
Irish Entrepreneur Successes
• Out of Talk Talk
• Fastest Growing Start-up
• Technology developed by Trustev, verifies identities of millions of online customers worldwide
• Technology developed by Zutec was used to build an Asset and Snagging Register in the construction of The Shard, London
First ever, solar-powered, climate-controlled
football stadium Qatar 2022 World Cup
Mercury Engineering in Dublin
Radissens Diagnostics in Cork
First to enable blood analysis aboard the
European Space Station
Irish medical device companies lead the world
in innovation, quality and performance.
Aerogen developed the world’s first aerosol
vaccination device
Going forward • Grow more start-ups - 93,000 jobs projected
• Local Enterprise Office - consistent quality supports
• Exports will continue to be the key engine for indigenous growth and economic prosperity
• Target scale in all business-types from the outset
• Economic growth predictions - Irish economy to out-perform major trading partners
• Opportunities are great for ambitious Irish companies