Some 400 jobs have been created by graduate companies of the www.gec.ie Guinness Enterprise Centre (GEC) in Dublin, it has been revealed.
Companies that began life as start-ups in the incubation space now employ an average of 22 people, research by the GEC has shown.
Furthermore, the 18 graduate companies, which rank among their number recognised players such as Zamano, Prime Carrier, Capricorn Ventis and Open Jaw Technologies, expect to double their combined amount of employees over the next three years.
The average annual turnover of GEC graduate companies is €4m. The GEC was set up in 2000.
The companies predict their annual turnover will increase to €10m on average over the next three years, the research revealed.
The survey showed 100pc satisfaction among the graduate companies with their experience at the GEC, something which pleased GEC manager, John McInerney (pictured) no end.
“We are delighted to be associated with the creation of such a high number of quality jobs within Irish companies,” he said. “It is reassuring to see that companies that once started life in the GEC have now grown to become successful enterprises, thus confirming the foresight of the founding members.
“In an era of increased entrepreneurship and continuous advancements in technology, there is a need for incubation space for small and early-stage businesses. We would welcome more developing companies to utilise the facilities and services which the centre has to offer to help their businesses grow and succeed.”
As part of the Dublin Business Innovation Centre group, clients of the GEC also have access to business advice and may source seed funding.
By Niall Byrne