Enterprise Ireland is bringing 20 of Ireland’s leading high-tech companies to New York today, to meet with leading technologists from Bank of America Merrill Lynch (BofAML).
The aim of the one-day event is to better position the Irish companies for potential partnership opportunities with the bank and other leading US companies.
The bank and its technology partners will provide the companies with an insight into the bank’s technology needs and developments. The companies will also learn about the US technology landscape in financial services and best practices for developing strategic partnerships with major American technology companies in a post-economic crisis world. Each company will also have the opportunity to discuss their specific product offerings with the audience.
Ireland has more than 800 software companies, employing an estimated 25,000 people, generating 10pc of Ireland’s exports with total annual revenues of €12bn in 2009. Enterprise Ireland’s financial software and services client group is composed of more than 60 active companies. Additionally, more than €1.7trn in funds are managed in Ireland.
“BofAML has long applied cutting-edge technology across every facet of our infrastructure and is constantly looking ahead for new technologies that can further improve efficiencies and provide the highest level of data security. Technology innovation is a key component of the bank’s operations in Ireland and events like this give us an early look at emerging technologies," said Jim Kelly, corporate strategy executive at BofAML.
Bank of America, which employs almost 1,650 staff in Ireland, has a Research Development & Innovation Centre based in Dublin.
Peter Keegan, Ireland country executive, added, “We’re keen to see the latest innovation from the Irish companies, and we’re pleased to connect them with our valued technology partners”.
Enterprise Ireland chairman Hugh Cooney said, “This sector of the Irish economy performed particularly well in 2010 in spite of poor market conditions. In fact, exports to the US grew by 12pc. This speaks to the quality and innovation of the technology and the rising demand for advanced solutions from Irish companies by US institutions. We’re confident that 2011 will bring further growth.”
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