New EU VAT rules on digital goods to go live on 1 January could be too much of an administrative burden for start-ups and may be counterintuitive to creating a Single European Market for digital goods and services.
Dublin: 19.12.2014 03.53AM
Silicon Valley Bank, which is establishing a presence in Ireland with US$100m of new lending facilities for innovative companies, has appointed its UK relationship manager Andrew Hunter to spearhead new business efforts in Ireland.
Hunter currently works within Silicon Valley Bank’s Accelerator and Growth group based in London, managing a varied portfolio of clients and overseeing specialised financial services for venture-backed and growth technology businesses.
Phil Cox, head of EMEA and India, and president of the UK branch of Silicon Valley Bank, said: “We are committed to bringing our niche experience and knowledge to high-growth innovation companies around the world.
“The extensive knowledge that Andrew brings to the business will be of tremendous value in Ireland as we continue to focus on supporting Irish innovation.”
In June 2012, Silicon Valley Bank announced plans to lend US$100m to support Ireland’s technology innovation sector in collaboration with the National Pensions Reserve Fund over the next five years.
Hunter said Ireland has a vibrant innovation sector and a vast array of high-potential entrepreneurs and technology businesses.
“Utilising Silicon Valley Bank’s global network and extensive knowledge and experience, we are in a good position to support these businesses and help them to grow,” Hunter said.