CIT start-ups credited with generating 2,500 jobs over 15 years

27 Nov 2013

More than 250 companies have graduated from entrepreneurship programmes at Cork Institute of Technology (CIT) since 1998 and between them they have generated 2,500 jobs, it was claimed today.

Entrepreneurship programmes run by CIT have evolved since 1998, from the Graduate Enterprise Programme to the Genesis Programme, and more recently under the national brand of the New Frontiers Programme. The Rubicon Centre, which opened its doors in 2006, is now the Ireland’s most successful innovation centre for high-potential start-ups.

In the past 15 years, almost 250 companies have graduated from these programmes with graduate companies going on to create in excess of 2,500 jobs.

These companies have also attracted more than €100m in investment during this time, €0.75m of which was raised in the past month alone.

Around 70pc of the companies that participated in the enterprise programmes run over the past 15 years are still trading. This figure is extremely high and bucks all international trends in relation to start-up survival rates.

“CIT has been at the forefront in delivering full-time enterprise support programmes since 1998 and continues to be a standard bearer for enterprise support in the Munster region through the Rubicon Centre,” CIT president Dr Brendan J Murphy said.

“I am delighted to mark the successes of our past programme participants and the contribution that these entrepreneurs have made to the economic development of this region and in many instances further afield.

“The statistics over the years demonstrate the value added nature of the enterprise activities that have been undertaken by the entrepreneurs that have completed CIT’s Programmes.

“The figures are testament to the vision, commitment and dedication of those that have taken the path less travelled and embarked upon what is an uncertain journey,” Murphy added.

John Kennedy is a journalist who served as editor of Silicon Republic for 17 years