In an effort to stimulate indigenous technology companies in the software sector, three major organisations have come together to make a call for Irish tech firms to bring their ideas to the table in front of the venture-capital community at April’s Software Investment Forum.
The Irish Software Association (ISA) and the Growth and Scale Working Group in collaboration with the Irish Venture Capital Association (IVCA) is looking to identify and guide indigenous businesses that have high growth potential at this 16 April event with members of the IVCA having some €700 million to invest over the next few years, and having already invested €1.5 billion in Ireland over the last decade.
“Despite the challenges facing our economy, our members recognise the great potential in this sector,” said John Tracey, chairman of the IVCA.
“Investing in software and other technology-focused companies encourages the employment of graduates and encourages greater exports and growth, thus leading to improved returns for all.”
Software sector’s contribution to Irish economy
Paul Sweetman, director of the Irish Software Association, said the software sector has and will continue to make a significant contribution to the economy as long as it is given the support it needs.
“We need to strengthen and sustain our software industry if it is to reach its full potential. Investment in knowledge-based jobs is more important now than ever before,” he added.
Right now, the Irish Software industry employs more than 10,000 people in more than 500 companies that have combined sales of €1.4 billion, 70pc of which is exported, mostly to the UK and USA.
In fact, between 2008 and 2009, the ICT sector was one of few to grow employment numbers. It had an increase of 3.4pc.
By Marie Boran
Photo: Paul Sweetman, director, Irish Software Association; Howard Beggs, chairman, ISA Growth and Scale Working Group; and John Tracey, chairman, Irish Venture Capital Association, at the launch of the Software Investment Forum