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Enterprise Ireland invested €32 million in start-ups in 2016

Published

7 years ago

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Enterprise Ireland

229 Start-ups supported in 2016 – highest level on record

Enterprise Ireland Start-up Showcase 2017 brings together 400 start-ups, investors and entrepreneurs

Enterprise Ireland, the state agency responsible for the development and growth of Irish companies in global markets, invested €32 million in Irish start-ups in 2016 and supported a total of 229 start-up companies, the highest number to date in a single year. Investment was provided in the form of Competitive Start Funds (CSFs) and High Potential Start-Up (HSPU) funding.

Over 400 entrepreneurs and representatives from early-stage businesses, along with the investment and financial community and other stakeholders, convened today at Dublin Castle for Enterprise Ireland’s Start-up Showcase 2017.

Ash Maurya, author of the international bestseller “Running Lean: How to Iterate from Plan A to a plan that works” and the creator of the one-page business modelling tool “Lean Canvas” is the featured key-note speaker at the event. The event provides an opportunity for entrepreneurs and start-ups to network with potential investors and other stakeholders to showcase their business offering.

Start-ups that Enterprise Ireland supported in 2016 include:

  • 101 new High Potential Start-Ups (HPSU) – start-up businesses with the potential to create 10 jobs and €1million in sales within three to four years of starting up
  • 128 new Competitive Start Funds (CSF), which injects critical early stage funding into new businesses
  • Over a quarter (28%) were female-led businesses, including 19 new HPSUs and 44 new CSF investment approvals – up from a total of 61 in 2015
  • Over half (53%) the start-ups supported during 2016, were in regions outside of Dublin
  • Investment in seven new Fintech HPSUs and a further 10 Fintech start-ups were supported under a dedicated CSF fund
  • 15 spin-out companies from Higher Education Institutions supported in 2016
  • 33 new start-ups established by overseas entrepreneurs who have moved to Ireland to establish their businesses and include entrepreneurs from Russia, Europe and USA

Enterprise Ireland’s, Orla Battersby, Manager, HPSU Division said the development of companies of scale throughout the country is a key priority for Enterprise Ireland and start-up success is central to the achievement of this. “Last year Enterprise Ireland supported 229 start-ups – which represents an increase of almost 5% on 2015. In addition, we also continued to focus on female entrepreneurship, increasing the number of female-led investments to 63 – a combination of both CSF’s and HPSU’s. In addition to funding, Enterprise Ireland also provides advice, toolkits and peer-to-peer learning platforms, to further equip start-up clients with global ambition, helping them to become investor ready in a shorter timeframe.”

Speaking at the Enterprise Ireland Start-up Showcase 2017, Minister for Jobs,

Enterprise and Innovation, Mary Mitchell O’Connor TD said: “All the start-ups here today play a significant part in stimulating local economies and employment. I note the Class of 2016’s strong regional representation with 53% coming from outside Dublin – the high value employment and incomes that they generate, and the demand that they create for goods and services in their own local economies in turn sustain the viability of other businesses. The Action Plan for Jobs 2017 gives a clear mandate to Enterprise Ireland to drive the global ambition of start-ups, particularly in the context of Brexit, and to set their sights further afield and power the economy through strong positions in diverse export markets. I wish all the start-ups and entrepreneurs here today every success.”

In January, Enterprise Ireland published its Build Scale, Expand Reach 2017 – 2020 strategy and part of this four year plan seeks to support more start-ups of scale. Improving access to finance for start-ups is a key element of the strategy and Enterprise Ireland continues to work with seed and business angels to avail of new approaches to sourcing finance.

Orla Battersby, Enterprise Ireland said “In the past week we have seen the launch of four new funds, in which Enterprise Ireland is involved, including fund announcements by Seroba Lifesciences, Frontline Ventures, ACT Venture Capital and Suir Valley. These four new funds combined bring, on their first closings, €188 million of available new capital to the market, helping companies to reach out to global markets. The Irish start-up ecosystem will continue to strengthen as a result of these investments, building a platform for HPSUs that is strong, effective and sustainable.”

Orla Battersby, Enterprise Ireland concluded: “Our strategy for 2017-2020 is to support more start-ups using innovation as a key driver of competitive advantage to build scale and expand reach to global markets. As part of our mandate to develop and maintain an appropriate funding environment for early stage companies, Enterprise Ireland continues to help our companies start, innovate and scale.”

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Press Release

UserTesting Highlights How Inflation Is Squeezing Indian Consumers, 75 Percent Join The Gig Economy To Meet Increased Cost Of Living

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2 years ago

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July 13, 2022

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Inflation Is Squeezing Indian Consumers
  • On an average, 3 out of 5 Indians are witnessing the highest impact of inflation on entertainment and petrol expenditures
  • In order to save money, 65 percent of Indians are now buying their necessary products from generic brands
  • View consumer responses to the impact of inflation

India, July 13, 2022: UserTesting (NYSE: USER), a leader in video-based human insight, conducted a survey to understand the effects of the rising inflation on Indians’ spending habits and personal finances. As per the survey findings, over 95 percent of Indians reported that growing inflation is directly impacting their daily and monthly expenditure.

A host of cost pressures such as rising commodity prices, global supply disruptions, and more has been translated to end consumers in the form of elevated prices for goods and services across the board. Therefore, to meet basic needs, Indians are cutting back on their everyday expenses to meet their basic needs. About 60 percent of Indian respondents indicated that they are cutting back on entertainment and leisure activities such as movies, eating out, staycations, etc. Unsurprisingly, the respondents also mentioned minimizing personal car travel and opting for public transport to reduce their expenditure on petrol.

Mounting prices of essential commodities

Indians are facing the brunt of inflation majorly on petrol prices, as mentioned by 100 percent of the respondents during the survey. With essential grocery items such as bread witnessing a sharp rise in prices, 90 percent of the respondents have reported that it is becoming a burden to keep up with the inflation storm. Adding to the trouble, some respondents mentioned not having received any salary appraisals in the past year, leading to a reduction in personal savings for many.

Gig economy takes center stage amidst rising inflation

As inflation heats up, former motivations for side hustles, such as paying off debt and saving, have been replaced by a more pressing need: making ends meet. According to the survey, 75 percent of Indian respondents revealed that they are resorting to secondary sources of income to keep up with the increased cost of living. The popular options that were mentioned included freelancing and trading among other side gigs.

Indians replace their go-to shops: from big brands to local brands

Interestingly, the survey found that on average, 65 percent of Indians are buying from generic/local brands instead of name brands so as to save money. Stating that most generic brands are now offering the same quality of a product at a cheaper price, more than half of the Indians have shifted their focus on local brands, especially for purchases such as clothes and grocery items that are now being bought from local kirana shops.

About UserTesting

UserTesting (NYSE: USER) has fundamentally changed the way organizations get insights from customers with fast, opt-in feedback and experience capture technology. The UserTesting® Human Insight Platform taps into our global network of real people and generates video-based recorded experiences, so anyone in an organization can directly ask questions, hear what users say, see what they mean, and understand what it’s actually like to be a customer. Unlike approaches that track user behavior and then try to infer what that behavior means, UserTesting reduces guesswork and brings customer experience data to life with human insight. UserTesting has approximately 2,500 customers, including more than half of the world’s top 100 most valuable brands according to Forbes. UserTesting is headquartered in San Francisco, California. To learn more, visit www.usertesting.com.

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Investment

Nikola to Participate in Upcoming Investor Conferences

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2 years ago

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June 7, 2022

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Nikola to Participate in Upcoming Investor Conferences

Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy infrastructure solutions, today announced its participation in the following investor conferences:

Kim Brady, CFO, will participate in a fireside chat at the Evercore ISI Global Clean Energy & Transition Technologies Summit on June 15, 2022, at 2 p.m. ET

ABOUT NIKOLA CORPORATION

Nikola Corporation is globally transforming the transportation industry. As a designer and manufacturer of zero-emission battery-electric and hydrogen-electric vehicles, electric vehicle drivetrains, vehicle components, energy storage systems, and hydrogen station infrastructure, Nikola is driven to revolutionize the economic and environmental impact of commerce as we know it today. Founded in 2015, Nikola Corporation is headquartered in Phoenix, Arizona. For more information, visit http://www.nikolamotor.com or Twitter @nikolamotor.

SOURCE Nikola Corporation

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Press Release

2022 Zhejiang (HUZHOU) Export Online Fair (Europe-Textiles)

Published

2 years ago

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June 7, 2022

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2022 ZHEJIANG HUZHOU EXPORT ONLINE FAIR EUROPE TEXTILES

China Council for the Promotion of International Trade Huzhou Committee and the China Chamber of International Commerce Huzhou Chamber of Commerce are organizing the online fair-2022 ZHEJIANG (HUZHOU) EXPORT ONLINE FAIR (EUROPE-TEXTILES) will be held online continually for 4 days from the  13th of June till the 17th of June 2022.

Facing the international epidemic situation, in order to promote the trade between Europe and Huzhou, Zhejiang in China, the 2022 ZHEJIANG (HUZHOU) EXPORT ONLINE FAIR (EUROPE-TEXTILES) will be held online.

This online fair is an international platform to help European buyers meet with professional Huzhou textiles enterprises. With abundant experience in holding expos, the Huzhou fair created the original mode of “internet + expo” in China’s exhibition field while is still keeping improving and upgrading it to a higher level. The aim of the exhibition is to provide a comprehensive overview of the global market and at the same time to offer the best possible stage for the high proportion of strong Chinese suppliers and the best European buyers.

At the exhibition there will be at least 40 quality exhibitors, the B2B Huzhou Expo will be completely free for European buyers. The exhibition will be held on the new online platform for the fair https://efair.zjseek.com/web/#/exhibition

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