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Workshop 1:Supporting Industry and Economic Development to Propel
Innovation
Kevin Ryan, Senior Development Adviser, HPSU Accelerate - Industrial & Life Sciences, Enterprise Ireland Clare Harney, CEO & CIO, Health Founders | Jinga LifeStephen Moore, AJQ Software
Enterprise Ireland –Supporting Industry
ECH Alliance 11th April 2018Kevin Ryan
What We Do…
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• Help Irish businesses to start, innovate and scale internationally
• Work with 5,000 Irish owned businesses across all sectors with export potential and regions
• Mandate to drive collaboration and commercialisation of state-funded research
• 32 International offices
• Key focus is the development and growth of Irish companies in global markets
Enterprise Ireland are Europe’s Largest source of seed funding and 3rd biggest globally
Performance of Enterprise Ireland backed companies 2017
209,338employed in Enterprise
Ireland backed Companies
19,332new jobs created
10,309net new jobs created
highest in the history of the Agency
Net jobsTotal new jobsTotal jobs
Employment Growth in every Sector
↑ 8%Construction
↑ 4%Food
↑ 6%Digital Tech
↑ 8%Engineering
↑ 6%Electronics
↑ 8%Life Sciences
↑ 5%ICT
Mid West
+7%
Mid East
+4%
South East
+4%
Dublin
+4%
Midlands
+6%
West
+7%
NorthEast
+5%
NorthWest
+7%
South
+6%
Employment Growth in every county
Carlow+5%
Cavan+5%
Clare+4%
Cork+6%
Donegal
+4%
Dublin+4%Galway
+10%
Kerry+7%
Kildare+5%
Kilkenny
+2%
Laois+8%
Leitrim+12%
Limerick+9%
Longford
+5%
Louth+5%Mayo
+5%Meath+4%
Monaghan+4%
Offaly+5%
R’common
+5%
Sligo+11%
Tipperary+8%
Waterford
+4%
Wexford
+3%
Wicklow
+4%
Westmeath
+7%
64%new jobs
Outside Dublin
€30.5m 21regional projects
First Call
new €60m Regional Enterprise Development Fund
Second Call in March 2018
€23minvested in New Technology
Centres – Irish Manufacturing Research and Meat Technology Ireland
4 newRegional Accelerators
NDRC@Portershed
Galway
NDRC@ArcLabsWaterford
Meat Technology
IrelandDublin
Investing in the Regional Eco-System
9Regional
Brexit Advisory Roadshows
across the country
PropellorShannon
Clare
BioExcelGalway
Irish Manufacturing
Research Mullingar are
NDRC@PorterShed (Galway)
• €1.5m Funding Secured for Digital Tech Accelerator
• First Cohort Completed (Nov17)
• 10 Cos on initial cohort (33+ applied)
• Cohort 2 in Q3 2018
• Engaged with HPSU/EI Team
NDRC@Arclabs
• €1.5m Funding Secured for Digital Tech Accelerator
• Centrica/Local VCs
• First Cohort to start in Q2 2018
Propeller (Shannon)
• €1.4m Funding Secured for Aviation Accelerator
• Boeing/Datalex/IAA
• First Cohort to Start Feb 2018
• 9 Cos on initial cohort (33+ applied)
• Engaged with HPSU/EI Team
BioExel (Galway)
• €1.4m Funding Secured for Medtech Accelerator
• First Cohort Commenced (Jan 17)
• 8 Cos on initial cohort (14+ applied)
• 6 Month Programme
• Engaged with HPSU/EI Team
4 New Regional Accelerators
BUILD
SCALE
Innovate
Horizon 2020 Funding
Irish SME’s first for innovation
Collaborative Innovations between industry and higher education
€475m
1st
Place
1,065
Research & Development
BUILD
SCALECompetitiveness
Client Investments > €500k supported by EI
Participants on management training programmes
Lean Programmes Completed
232
374
1,000
R&D and Training
Enterprise Ireland client companies that availed of Innovation Capability, Funding and Collaboration support saw:
+67%More Global Sales
Launched Agile Innovation Fund
€300,000to help companies become agile
themselves in developing and adapting
products for new markets
New Agile Innovation
Fund Launched
Companies Must Innovate
Milestone Setting
Meeting
Progress Update
Overseas Support
Sprint
0-18 Months
HPSU StartHPSU Accelerate
Business Plan Update
Meetings
Master Class Series
Founders Forum
Forum Groups
Overseas Support
Engage HPSU Accelerate DA & IC
24 Months
Fast Track
Fast Track
Accept 450
How We Work With Industry…
Identifying
Over 2,000 enquiries
900 Business Plans
Exit 100
HPSU
€30m in funding
p.a.
150 Milestone setting meetings450 Progress meetings 500 Business review meetings
The Start-up Journey…
1. Ideation
Exploring supports to launch your
business idea
2. Concept
Developing a market-focused business
plan, mission and
milestones
3. Validation
Developing a minimum
viable product for
an identified market
4. Getting Investor Ready
Seeking investment, early sales
and building a
management team
5. Growth & Scale
Accelerating growth in
international markets
HPSU Start Involvement
HPSU Accelerate Involvement
LEO Involvement
CSF Project Assessment HPSU Investment
HPSU Accelerate Supports
● Seed funding circa. €25m - €30m
● Assigned a Snr. Development Adviser
● Intensive and regular engagement, 600 meetings in 2017
● EI Founders Forum
● Access to overseas offices network
● Follow on Equity Funding
● Sectoral initiatives and missions
● Invitations to Workshops, Networking and Sectoral events
● Grant Funding
What‘s important to Enterprise Ireland
• Quality
• Diversity esp. Female
• Regional impact – 4 new regional accelerators now launched
• Funding – HBAN and 4 new seed funds - €188m on first close
• Spin outs from 3rd level
• Alignment of the ecosystem
• More scaling HPSUs, scaling faster
• Building the companies that will power the future Irish economy
The HPSU Founders Forum helps clients accelerate their business rapidly through:
● Understanding sweet spot customers and how to differentiate from competition.
● Gaining an appreciation of how to grow international sales.
● Learn how to generate and manage cash to position the company for growth.
● Creating a strong team capable of accelerating the company’s growth
● Building a strong network of other founders with the same goals.
Life Science Investments include…
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THANK-YOU
Kevin RyanSenior Development AdviserIndustrial & Life Sciences Accelerate Division
T: +353 1 7272224E: [email protected]: @Kevnryan