Seventy-three high-potential start-ups supported in 2009

9 Mar 2010

Minister for Trade and Commerce Billy Kelleher TD has announced that Enterprise Ireland supported the establishment of 73 new high-potential start-up companies (HPSUs) in 2009.

These young companies are expected to create more than 900 new jobs over the next three years, bringing total employment in these businesses to almost 1,500. Total sales over the same period are projected to reach €600m, with exports accounting for more than 80pc of this figure.

Making the announcement at Enterprise Ireland’s annual HPSU event today, Kelleher said: “It is absolutely critical for the development of the smart economy that we do everything possible to drive the continued growth of entrepreneurial, innovation-led companies that will underpin Ireland’s reputation worldwide as a centre of innovation excellence. 

“They are at the forefront of innovation, creating the products and services that add value for customers, opening new markets, increasing export sales across the globe, and securing economic growth and jobs here at home.”

Welcoming the HPSU announcement, Hugh Cooney, chairman of Enterprise Ireland said: “Despite the challenging international trading environment, these companies show there are significant opportunities for new business start-ups.

“This is particularly so in life sciences, biotech and medical technology, food, telecommunications, internet services and other niche areas. These are sectors in which Irish firms are creating a sustainable competitive advantage and building international market share.”

By Sorcha Corcoran

Photo: Minister for Trade and Commerce Billy Kelleher TD

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