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Dublin: 18°C Tuesday 22 June 2021

The level of female start ups in Ireland has increased 600% since 2011

With 1,500 jobs on the way Richard Bruton has hailed Ireland’s entrepreneurs as ‘heroes’.

Image: Shutterstock/Sofi photo

Updated at 14.10

2014 saw some 43 female-helmed start up Irish businesses funded by Enterprise Ireland (EI), an increase of 36 since the scheme first began concentrating on women in business in 2011.

The news was announced at a ceremony in Dublin Castle to celebrate the success of the 183 enterprises supported and funded by EI in the last year after a hugely competitive vetting process.

With 1,500 jobs to be created by these entrepreneurs in the next three years, the event brought together the various start ups and individual investors who may or may not have been looking to splash the cash.

Speaking at the event Minister for Jobs, Innovation and Enterprise Richard Bruton described Irish entrepreneurs as ‘the heroes of this recovery’.

“Entrepreneurs created 93,000 jobs in Ireland between 2006 and 2011, while the economy elsewhere shed some 400,000 employees,” he said.

Without those courageous souls we would have been looking at an even greater level of attrition in our enterprise base.

CEO of Enterprise Ireland Julie Sinnamon was similarly elated.

“I think it is quite an Irish thing that we don’t celebrate our entrepreneurs as much as we should, congratulating these 183 businesses is one of the highlights of the year for me,” she said.

I’m especially pleased that fully 23% of the enterprises we have funded this year are run by women, that’s almost three times the global average.
We’re in the departures lounge now after a difficult journey, now it’s time to take flight and soar.

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IMG_0461 Stephen McNulty, CEO of Ambisense, one of the 102 high potential start ups present at Dublin Castle Source: TheJournal.ie/Cianan Brennan

The 183 businesses funded in 2014 are split between 102 high potential start ups and a further 81 beneficiaries of Enterprise Ireland’s competitive start fund.

The entrepreneurships are dominated by the software and services sector with 67% categorised in that manner.  The remainder are split between engineering and cleantech, food and consumer products, and medical devices and pharmaceuticals.

A high potential start-up is a business based on technological innovation that will have sales of €1 million a year and employ at least 10 people within three years. They are export oriented and led by experienced teams.

Additional reporting by Cianan Brennan

Originally published at 7.54am

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