Enterprise Ireland start-up investments rise 15%

(Left to right) Aideen Bodkin, StyleAI, Kevin Sherry, Interim CEO of Enterprise Ireland, Joe Fernandez, Early Intervention Tools and Aisling Browne, GlitchAds, at Enterprise Ireland’s annual Start-Up Day conference in Dublin. Picture: Shane O'Neill, Coalesce

Enterprise Ireland funding to start-up companies increased by 15% during 2024, the agency revealed, as it kicks off its annual Start-Up Day conference in Dublin.

Last year, Enterprise Ireland invested €27.6m in Irish start-ups across 157 companies. This is an increase on the €24m invested during 2023 across 156 companies.

The investments were provided through Enterprise Ireland’s High Potential Start-Up (HPSU) and Pre-Seed Start Fund (PSSF) programmes.

There were 90 investments through the HPSU programme - which is aimed at businesses with the potential to create 10 jobs and €1m in sales within three years of starting up. Of these companies, 13 emerged as a result of academic research with 25 companies spun out of third-level institutions.

The PSSF programme accounted for 69 investments. According to Enterprise Ireland, 63 of the companies supported last year were based outside of Dublin and 45 were led by women.

The agency’s figures for last year were unveiled as the company kicked off its annual Start-Up Day Conference on Wednesday in Dublin.

Kevin Sherry, interim chief executive of Enterprise Ireland, said a key objective of the agency’s new strategy is sustainability in Irish business so that in time “exporting Irish companies will become the primary driver of the Irish economy”.

“As part of our plan, Enterprise Ireland is undertaking a dedicated consultation process by engaging with the start-up ecosystem on the supports available for early-stage companies in Ireland.”