Bruton: 770 jobs to be created through Govt-backed start-ups

Wednesday, June 08, 2011 - 11:48 AM

Some 770 jobs will be created as a result of a Government-backed programme offering support to 80 'high-potential' start-up companies, Enterprise Minister Richard Bruton said today.

The minister said that the Government, through Enterprise Ireland, supported the establishment of 80 new high potential start up companies (HPSUs) in 2010, involving over 150 entrepreneurs.

These companies will create over 770 new jobs over the next three years, bringing their total employment to almost 1,300, according to a statement.

Total sales over the same three year period are expected to reach €528m, with exports accounting for over 80% of this figure.

Minister Bruton said that over the past decade, through the scheme, Enterprise Ireland has supported over 800 high potential start up companies which are responsible for employing over 25,000 people directly and indirectly in the wider economy, and have combined sales of over €1.5bn, 75% of which is exported.

The minister's comments came today at Enterprise Ireland’s annual High Potential Start Ups Showcase event in Dublin.

“Government does not create jobs, businesses do; but government has a crucial role in the process through creating the environment and providing the supports which allow businesses to thrive," he said.

"Today’s event demonstrates what government and the private sector can do when they work together."