Call for Silicon Valley official

Ireland has been urged to follow Denmark’s lead and appoint a dedicated technology ambassador to Silicon Valley.

The British-Irish Chamber of Commerce has made the call as part of an information and communications technology (ICT) policy paper, urging the Government to turn Brexit into an opportunity for Ireland’s technology sector.

As well as an ambassador to act as Ireland’s link with Californian technology firms, the chamber wants a national ICT ‘hub’ established, “to drive innovation”, based in Dublin but with satellite outposts.

The chamber is also looking for the Government, in next month’s budget, to lower the marginal rate of personal tax, reduce the rate of capital gains tax for innovation-focused entrepreneurs, reform the special assignee relief programme, and increase the investment limit of the start-up refunds for entrepreneurs (SURE) from €100,000 to €250,000.

“In light of the UK’s Brexit vote, the committee has set out to identify key policy issues that need to be addressed by the Irish Government to sustain the sector’s growth. Given the ICT sector in Ireland is global by its very nature, we must be global in our approach,” said Pat Flood, chairman of the British-Irish Chamber of Commerce ICT Committee.

The chamber’s director-general, John McGrane, said that all needs to be done to maximise any benefit for Ireland from the Brexit process.

“As the digital hub of Europe, Ireland is well placed to maximise the limited benefits resulting from the UK’s decision to withdraw from the EU. The chamber is promoting Ireland as the next-best option for UK firms that need unfettered access to the EU’s single market, in particular within the fintech sector,” he said. “However, the ability to attract suitably skilled employees to Ireland is proving to be a significant challenge. If we are to win this ‘war for talent’, the high tax burden on employees and the firms relocating to Ireland must be urgently addressed.”

In June, Denmark became the first country to formally appoint an ambassador wholly focused on Silicon Valley, in what the country’s foreign ministry dubbed the first “techplomacy” posting.

The diplomat, Casper Klynge, said top companies in Silicon Valley carry more weight on the global stage than do many countries.