High-tech start-ups look set to be a key cog to help Ireland bolster its economic recovery, as Ireland’s Jobs Minister Richard Bruton, TD, today pointed out that Ireland should be looking not only to attract the next Google but also to create the next Google in Ireland.
Bruton was speaking at Enterprise Ireland today, as the agency made its end-of-year statement. He announced at the event that 528 jobs will be created over the next three years via 32 HPSUs (high-potential start-ups) that are supported by Enterprise Ireland and the Government.
Next month, the Irish Government, under Bruton’s remit as Jobs Minister, will be announcing its Action Plan for Jobs.
The next Google
Bruton also alluded to how Ireland cannot just rely on FDI, but must also support job creation via its own indigenous start-ups, a move that will surely help to prevent a further brain drain from the country.
"I will be looking at ways to provide further supports for indigenous businesses so that we can not only attract the next Google to Ireland but also seek to create the next Google in Ireland," Bruton said.
"If we are to rebuild the economy and get jobs growing again, we must create an indigenous engine of growth. I have said before that while foreign direct investment must and will remain an important part of our economic strategy, indigenous businesses will be the key to achieving the levels of growth and employment that we need," explained Bruton.
The minister said he was "happy" to secure an increase in funding for this programme as part of Budget 2012.
He said that for the third quarter in a row, Ireland is seeing an increase in new start-ups and job creation in this HPSU programme.
Some new inventive HPSUs on the Enterprise Ireland programme include everything from pediatric language software development (Animated Language Learning) to technology to clean industrial aqueous waste streams (Kemartek Technologies) to web technology service for the life sciences sector (Scrazzl).
Other inventive start-ups in the HPSU programme include DeBonis Gaffney Software, Tethras Technology, BoxPAY, VendorShop, Billfaster and Trimod Therapeutics, Cab Call Communications and Hotel Bedroom Solutions.