€60 million pumped into start-ups and expansions in last 17 months

Business Correspondent

Despite the fall out internationally, software and international services companies have pumped 60 million into start ups and expansions.

Details of the investments were given yesterday by Tánaiste Mary Harney when she addressed an Enterprise

Ireland forum called Negotiating for Success building competitive Irish companies with global capability in Dublin yesterday.

Other speakers included the former chairman of Burger King Corporation Barry Gibbons and Kevin P O'Brien, president of Meredits Broadcasting in Los Angeles.

The forum focussed on successful sales techniques in a difficult selling environment. Addressing that issue the Tánaiste said the activities of Enterprise Ireland in the international services sector had resulted in significant developments of indigenous Irish exports led by the software and internationally traded sectors.

"The Irish owned internationally traded services sector is a substantial contributor to export based revenue generation in the economy and is a significant vehicle for high level research and development.

"The sector is still the fastest growing sector in the economy and companies are continuing to compete aggressively in international markets."

As a result, in the 17 months since May 2001 total investments of €60 million have been made by 88 Irish firms who have seen the value of selling into overseas markets.

Given the tough conditions firms have demonstrated their ability to compete in a difficult environment highlighting the ability of Irish firms to compete with the best.

Last year Irish software and international services companies achieved €1.5 billion in exports, an increase of over 28%. The sector currently accounts for 21,000 jobs.

"While it is important we recognise that global trading conditions are much more difficult, I am greatly encouraged by the response of Irish companies in ramping up their efforts in market development," said the Tánaiste.

She added: "Already this year, more than 100 businesses have established an overseas market presence, all 50

Enterprise Ireland's incubator units worldwide are occupied and almost 7,000 client buyer meetings have taken place an increase of over 30% last year."