€28M Invested in Irish Start-ups by EI in 2021

7th April 2022

Posted In: Be In The Frame

Enterprise Ireland invested more than €28 million in Irish start-ups and supported over 125 start-up companies last year.

Over 150 entrepreneurs and representatives from these early-stage businesses will today (Thursday) attend the annual Enterprise Ireland Start-Up Showcase 2022 event at the Aviva Stadium, alongside investors, mentors and other members of the broader Irish start-up ecosystem.

The live event also brings together the start-up ‘Class of 2021’, which are companies Enterprise Ireland supported last year. The ‘Class of 2021’ represents the best of export focussed start-ups in Ireland and are a key pillar of Enterprise Ireland’s strategy to support companies as they build, scale, innovate and expand their reach to international markets.

Investment was provided to Irish companies and entrepreneurs last year in the form of equity through Competitive Start Fund (CSF) and High Potential Start-Up (HPSU) funding programmes by the Department of Enterprise, Trade and Employment, through Enterprise Ireland.

Start-ups supported by Enterprise Ireland last year includes:

•82 HPSUs approved for over €18m in funding, and 24 of these were women-led

•Of these 82 HPSUs, 11 emerged from academic research

•Over €2m approved for 43 companies under the Competitive Start Fund, of which 16 are women-led

Speaking at Enterprise Ireland’s Start-Up Showcase event in the Aviva Stadium today, Taoiseach Micheál Martin TD, said:  “As we emerge out of an incredibly challenging two-year period, it is important to recognise the extraordinary growth and accomplishments of our domestic startups in Ireland. I commend anyone across the country who has taken the leap and started a business. I have seen the enormous resilience of Irish start-ups and I admire the tenacity of every Irish entrepreneur leading Ireland towards a future where innovation is front and centre.”

Leo Clancy, CEO, Enterprise Ireland, said: “Supporting companies on their growth journey means supporting local and national economies, as well as job creation for future generations. At Enterprise Ireland, our mission is to help accelerate the development of world-class Irish companies to achieve leading positions in global markets, and this means supporting Irish founders and their hard-working teams from the beginning.

“It is important that we recognise the perseverance and achievements of Enterprise Ireland’s ‘Class of 2021’. We are committed to supporting this drive and ambition, not just with funding, but also with strategic guidance and other development supports.   I would like to congratulate the Class of 2021 and wish them all the best on their future endeavors.”

Jennifer Melia, Divisional Manager, Technology & Services Division, Enterprise Ireland, said: “Enterprise Ireland has been working closely with start-ups throughout the year to grow their businesses at every stage. We work with entrepreneurs on their growth journey as they build world-class teams. This year we have seen extraordinary resilience and business potential from Irish-founded start-up teams. 2021 was a strong year for Ireland’s start-up economy. With a strong start-up economy, we are supporting and securing Ireland’s future.”