900 jobs a boost to ‘smart economy’

MORE than 900 jobs are to be created over the coming three years, as a boost to the Government’s ongoing “smart economy” strategy.

Trade and Commerce Minister Billy Kelleher announced yesterday that the Government – in conjunction with Enterprise Ireland – has supported the establishment of 73 new high-potential start-up companies in the last year and called them “an integral part” of the Government’s economic plans.

These new companies are expected to generate combined sales of around €600 million over the aforementioned three-year period, with exports likely to account for more than 80% of this figure.

The 900 new jobs, due to come on stream, will bring employment across these firms to nearly 1,500 in total.

“The Government is focused on developing Ireland into a ‘smart’ or knowledge-based economy and, over the last decade, has continued to increase its investment in the generation and exploitation of intellectual property developed in Ireland’s higher education institutions,” Mr Kelleher noted.

“It’s absolutely critical for the development of the smart economy that we do everything possible to drive the continued growth of entrepreneurial, innovation-led companies that will underpin Ireland’s reputation worldwide as a centre of innovation excellence,” he added.

Enterprise Ireland chairman Hugh Cooney said that the latest announcement shows that there are still “significant” opportunities for new business start-ups in the Irish market, despite the ongoing challenging international trading environment.