Bank of Ireland opens second FDI Hub on Dublin’s College Green

7 Feb 2018980 Views

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Bank of Ireland building, College Green, Dublin. Image: Semmick Photo/Shutterstock

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Bank of Ireland has opened a second FDI Hub to provide a practical resource for multinationals coming to Ireland.

Spurred on by demand for its first FDI Hub on Stephen’s Green, Bank of Ireland has opened a second hub on College Green in Dublin’s city centre.

The first hub aimed at incoming foreign direct investment (FDI) firms opened its doors in March 2017 and, since then, it has been used by more than 30 companies from Europe, North America and Asia.

‘This is a brilliant initiative which IDA fully supports, as its success here reinforces Ireland’s reputation as a leading location for innovative business leaders and companies with ambitious global objectives’
– MARTIN SHANAHAN

Tom Hayes, chief executive of Bank of Ireland corporate banking, said that the expansion to a second hub was driven by a noticeable increase in demand for the space.

Coming to Ireland

From left: Sean L’Estrange, head of Dublin city, Bank of Ireland; Tom Hayes, chief executive, Bank of Ireland corporate banking; Carolyn Quinlan, innovation team, Bank of Ireland; Frank Bunte, head of Europe, Nauto; and Barry O’Dowd, ‎senior vice-president, ‎IDA Ireland. Image: Bank of Ireland

The spaces at Stephen’s Green and College Green will provided 55 hotdesks and seven meeting rooms for FDI companies in prime Dublin city centre locations.

The bank will also offer spaces for these companies at its innovative Workbenches based in Cork, Galway, Limerick and Kilkenny.

“This is a brilliant initiative which IDA fully supports, as its success here reinforces Ireland’s reputation as a leading location for innovative business leaders and companies with ambitious global objectives,” said IDA Ireland CEO Martin Shanahan.

One of the companies using the space is Nauto, a company that retrofits vehicle fleets with networked cameras. It is using the Bank of Ireland hub to establish an engineering base, and is doubling the technical team to support its European expansion.

Hayes said the new College Green hub is a strong addition to the bank’s network of Startlabs and Workbenches across Ireland.

“It is fantastic to see Nauto, one of over 30 FDI companies who have directly benefited from our Stephen’s Green hub, going from strength to strength and announcing significant growth plans for the Irish market.

“It’s also great to see the breadth of countries where the companies are from, showing that Ireland is firmly on the map for companies exploring their post-Brexit options. In particular, we have noticed an increase in companies coming to us from countries that would have normally focused FDI activity in the UK.

“Launching a second FDI Workbench, in just under a year from when we opened our first, is testament to how successful this initiative is,” Hayes said.

Bank of Ireland building, College Green, Dublin. Image: Semmick Photo/Shutterstock

Editor John Kennedy is an award-winning technology journalist.

editorial@siliconrepublic.com