Enterprise Ireland helps start-ups employ 10,000 extra workers in 2015

The State body charged with fostering indigenous enterprise can boast a record number of people at work in the companies it supports after a bumper 2015.

Enterprise Ireland-supported firms now employ more than 192,000 staff, after client companies created 21,118 jobs last year.

Once job losses are factored in, the net increase in those employed by these companies stands at 10,160.

More than a third of the jobs were created in Dublin, but all the regions recorded increases in full-time employment in the year.

The figures were released by Enterprise Ireland as the agency recapped on what has been a particularly strong year.

CEO Julie Sinnamon said: “Irish businesses are making a huge contribution to the recovery in the economy and 2015 was a great year for job creation in the companies Enterprise Ireland supports.

“Our focus on helping businesses to start, innovate, and scale is paying dividends with the highest level of full- time jobs created and the lowest level of jobs lost in businesses that are competing globally from Ireland,” Ms Sinnamon said.

Enterprise Ireland also flagged progress in the number of client companies scaling up — an area of traditional weakness for Irish start-ups.

In 2015, 240 Enterprise Ireland clients made investments of more than €500,000 in their firms, reflecting increasing confidence in their scaling opportunities.

The agency identified scaling as a strategic importance.

Progress was also made in encouraging female entrepreneurs into the system.

Enterprise Ireland invested in 61 companies led by female entrepreneurs in 2015.

In total, approximately 500 start-ups received backing from the State body during the year.

Some 105 high potential start-ups were approved for funding in 2015; eight of which were in the food sector — the highest number ever.

“Start-up companies account for over two thirds of all new jobs created in Ireland and over 200 early-stage companies have been approved for investment by Enterprise Ireland,” said Ms Sinnamon.

“We have also supported a further 500 start-up companies through the Local Enterprise Offices.

"I am also delighted that 61 of the start-up companies that Enterprise Ireland invested in were led by female entrepreneurs and there were 15 investments in companies established in Ireland by overseas entrepreneurs last year through our new fund, which gives an indication of our competitiveness as an attractive investment location.”

In 2015, the agency invested in a record 875 collaborative research and development projects between companies and higher education.

“Today’s results, the best in several decades, show that more than 10,000 extra people are at work in Irish exporting companies today compared to one year ago.

"They also show that almost two thirds of the new jobs were created outside Dublin and that jobs grew in every region in 2015,” said Jobs Minister Richard Bruton.

“If we continue to implement our plan we can have confidence that we can keep the recovery going in every part of the country in the coming years.”


Lifestyle

Food news with Joe McNameeThe Menu: Upcoming food highlights

THE health properties of tea have long been advertised. “It maketh the body active and lusty” a 1660 promotion suggested. However, before you dunk your teabag into a mug of steaming water, spare a thought for the environment. Some have polypropylene to help to seal them and it doesn’t decompose.Storm in a teacup: Top 8 loose-leaf teas

Bestselling author Isabel Allende talks to Rowena Walsh about life, grief, and why it’s never too late to fall in loveIsabel Allende: It's never too late to fall in love

Cliffs of Moher Retreat owner Michelle Moroney has written a book on finding self-worth and stepping back from our 24/7 lives. She talks to Marjorie Brennan about the need to unwindMichelle Moroney highlights the need to take stock of our lives

More From The Irish Examiner