Enterprise Ireland, The Plaza, East Point Business Park, Dublin 3 Tel (01) 727 2000 Fax (01) 727 2020 www.enterprise-ireland.com
This Annual Report and Accounts is available to view online at: www.enterprise-ireland.com/annualreport2018
End of Year Statement 2020 Stabilise | Reset | Recover
Ireland’s European Structural and Investment Funds Programmes 2014-2020. 1 Co-funded by the Irish Government and the European Union.
Some of the investment initiatives supported by Enterprise Ireland are also co-funded by the European Regional Development Fund (ERDF).
© Enterprise Ireland June ‘19 TABLE OF CONTENTS
END OF YEAR EMPLOYMENT RESULTS 2020 03
2020 KEY OUTCOMES 04
COVID-19 05
BREXIT 07
POWERING THE REGIONS 08
BUILD SCALE 09
INNOVATE 11
EXPAND REACH 12
DELIVER GLOBAL AMBITION 14
2 END OF YEAR EMPLOYMENT RESULTS 2020
220,000
200,000 220,613 Employed in Enterprise 180,000 Ireland companies
160,000
140,000 65% Total Employment outside Dublin 120,000
100,000 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Source: Annual Employment Survey results for each year (2009-2020). 16,496 Jobs created 17,368 +6.8% +6% Job losses Life Sciences Cleantech -872 Net Change
+4.7% + 1.2% Construction Industrial €124m Lifescience and In additional Covid-19 funding Consumer under the Sustaining Enterprise Fund helped sustain 418 companies employing 1 7,7 1 0. In total, more than €142m was provided to companies under a range of Covid-19 funding initiatives introduced in response to the -1.6% -1.5% pandemic. ICT and Food International Services
3 2020 KEY OUTCOMES
STABILISE | RESET | RECOVER
989 €142m 95 Companies approved for the Approved to 1,919 companies Enterprise Covid-19 Business Financial impacted by Covid-19 Planning Grant Centres Throughout Ireland approved grants to help implement recovery plans
8,650 330 4,529 Businesses supported Retailers through the Covid-19 companies Approved for Covid-19 Business Response Hub Listed on the #LookForLocal Online Retail Scheme campaign website
359 €10m 531 Lean Business In additional Seed and Participants in virtual Continuity Grant Venture Capital allocated International Selling approvals Masterclasses
4 COVID-19
Throughout 2020 Enterprise Ireland provided a range of supports to Irish 989 330 businesses, including the Sustaining Companies Retailers Enterprise Fund and Covid-19 Approved for the Covid-19 Approved for the Covid-19 Business Financial Planning Grant. Business Financial Planning Online Retail Scheme These helped Irish firms to stabilise, Grant allowing companies to focus on resetting and recovering from the impact of Covid-19. A boost for business in the July Jobs Stimulus with additions to Sustaining Enterprise Fund (SEF)
The Sustaining Enterprise Fund received a boost from the July Jobs Stimulus, namely the addition of a non-repayable grant element of up to 50% of the total value of the support being provided, up to a maximum value of €200,000. Other measures announced included €10m additional funding for the Seed & Venture Capital Fund.
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L-R: Derek Moody, Owner and Director, Great Outdoors; Stephen Creaner, Executive Director, Enterprise Ireland and Minister of State for Business, Employment and Retail, Damien English TD.
330 retailers approved Nine Irish researchers and €11.8m via Covid-19 innovators awarded over €2.9m in Online Retail Scheme funding in response to Covid-19 To help boost the online sales of Irish retail In August, the European Commission announced businesses impacted by Covid-19, Enterprise that nine Irish researchers and companies were Ireland launched two Covid-19 Online Retail awarded over €2.9m under the Horizon 2020 Schemes in 2020. A total of 330 retailers with emergency funding action for the Covid-19 outbreak. a pre-existing online presence were approved Irish applicants did particularly well in the areas grants of up to €40k to upgrade their online of medical technologies, shops and to become more competitive in digital tools and Artificial the domestic and MORE INFO international virtual Intelligence analytics. MORE INFO marketplace.
5 COVID-19
Combi-Ventilate - turning one ventilator into multiple engineered ventilation stations
Combilift, best known for forklifts and other handling solutions, used its expertise in engineering and software design to develop the Combi-Ventilate, a splitter device which turns one ventilator into multiple ventilation stations.
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Pictured: Antonio Patacho, Combilift Engineer, Irish projects using space Martin McVicar, Co-Founder & CEO, Combilift, Dr Michael Power, National Clinical Lead, Critical Care technology now deployed to Programme, Irish Health Service, & Christopher respond to Covid-19 Carragher, Combilift.
In November, Irish companies, Skytek and PMD Solutions, in partnership with Beaumont Hospital, deployed their space technology expertise MORE INFO to help fight Covid-19.
Covid-19 – Supporting the HSE
Enterprise Ireland client companies quickly pivoted to supply goods or services in response to Covid-19. Companies such as EPC, Ovelle, Cosmetic Creations and Mervue re-purposed their manufacturing to produce high quality hand sanitisers. Others, including Key Plastics, Future Covid-19 Products Scheme Plastics and Mergon, developed face-shields that met the high-quality standards of the healthcare Announced to support further innovation system. Short supply of aprons and gowns in response to the Covid-19 pandemic, was responded to by companies like Ventac the scheme offered supports for the and Ardee Coachtrim. In other areas, client production of Covid-19 products, the companies Modular Automation and CW Applied construction and upgrade of testing and Technologies Ltd developed equipment that is upscaling infrastructures and Covid-19 finding application in a wide range of settings relevant research and development. including classrooms, airports and hotels. 6 BREXIT
Enterprise Ireland has been supporting businesses to deal with the challenge that € 7.6m 88% Brexit presents since 2016. Our dedicated Ready for Customs SMEs aware of Enterprise Brexit Unit and Brexit supports have helped grant approvals Ireland supports* many Irish firms to prepare for the UK’s supporting 1,000 jobs departure from the European Union. *Department of Finance SME Credit Demand survey
Tánaiste Launches New Brexit Readiness Checker
The Brexit Readiness Checker was launched in October to help Irish firms to examine their preparedness. The tool highlights any gaps in a company’s preparations, identifies priority areas for attention, and gives details of where to find MORE INFO help and support.
Enterprise Ireland launches second New Enterprise Ireland ‘Ready ‘Enter the Eurozone’ programme for Customs’ grant available
To accelerate Irish export growth to the Eurozone as a Enterprise Ireland’s ‘Ready for Customs’ grant is Brexit response, Enterprise Ireland launched a second providing companies with financial assistance to cover ‘Enter the Eurozone’ programme in October. the costs of taking on much needed additional customs clearance staff to deal with MORE INFO the impact of Brexit. MORE INFO
2020 saw record traffic to www.prepareforbrexit.com 1,400 companies registered for regional ‘Brexit Customs Briefing’ webinar series
December saw the introduction of Enterprise Ireland’s regional ‘Brexit Customs Briefing’ webinar series in response to increasing demand for information on preparing for 1st January. PrepareforBrexit.com website traffic grew dramatically in the second half of the year.
MORE INFO 7 POWERING THE REGIONS
The regional approach is crucial to Enterprise 65% €40m Client employment Regional Enterprise Ireland’s strategy for economic growth,now outside Dublin Development Fund more than ever. Having an economic balance approvals between our regions, cities and urban centres will drive economic development for the benefit of every Irish business and will ultimately help the nation to recover from the impact of Covid-19.
Why regions must collaborate to accumulate
In early January the third round of funding for the Government’s Regional Enterprise Development Fund (REDF) was announced. €40m was allocated to 26 collaborative projects around Ireland. Pictured, L-R: Julie Sinnamon, CEO, Enterprise Ireland, Tánaiste and Minister for Enterprise, Trade and Employment, Leo Varadkar, TD, and Michael Culligan, CEO Dublin BIC at the launch of the Enterprise Centres Fund at the Guinness Enterprise Centre, Dublin 8.
Tánaiste Announces €8.24m Funding for Enterprise Centres
In November, 95 Enterprise Centres around the country were approved €8.24m under Enterprise Pictured: Terence O’Rourke, Chairman of Enterprise Ireland, Eoghan Hanrahan, Regional Director, Enterprise Ireland’s Enterprise Centres Fund. The local Ireland and Former Minister for Business, Enterprise and business hubs received grants ranging from Innovation Heather Humphreys TD. €10k up to €150k to help them continue to offer services to local businesses during an exceptionally difficult time. MORE INFO
11 projects awarded €17m through Border Enterprise Development Fund
Pictured: Hildegarde Naughton TD, Minister of State at In June, 11 successful border county projects from the Department of Transport with CitySwift co-founders the North East and North West of the country were Alan Farrelly and Brian O’Rourke. approved to share in the €17m Border Enterprise Development Fund 2020. The Border Enterprise Transport data firm, CitySwift Development Fund, which was launched in January, announced 50 additional jobs aims to improve the international competitiveness for Galway supported by of enterprise in the Border Region in the context of Brexit and other market Enterprise Ireland. challenges and transition through the uncertainties MORE INFO MORE INFO of the new relationship.
8 BUILD SCALE
Enterprise Ireland continued to support Irish businesses to build scale throughout 2020. It is vital to increase 125 80 the strength of ambitious Irish firms Number of High Potential across all regions in order to further start-ups supported Start-Ups drive growth in key sectors.
15 Enterprise Ireland women-led start-ups get ready for investors and significant growth
In December, 15 ambitious women entrepreneurs supported by Enterprise Ireland’s Competitive Start Fund (CSF) commenced an online business accelerator programme delivered by Dublin Business Innovation Centre. The women entrepreneurs hail from across Ireland and have new start-up businesses set for global markets in sectors including digital, e-health, data intelligence and green technologies.
Pictured, L-R: Michael Culligan, CEO, Dublin BIC, Jenny Melia, HPSU Divisional Manager, Enterprise Ireland, Minister Damien English TD and Aisling Kirwan, Co Founder and COO, Positive Carbon.
Enterprise Ireland ranked first in Europe and second globally for seed investment by leading international investment platform PitchBook
Leading Venture Capital and Private Equity Investment Platform PitchBook ranked Enterprise Ireland as first in Europe and second globally for seed investment. MORE INFO Pictured, L-R: Stephen Creaner, Executive Director, Enterprise Ireland; Julie Sinnamon, CEO, Enterprise Ireland; Hugh Cooney, CEO, BleeperBike; Jenny Melia, HPSU Divisional Manager, Enterprise Ireland and Kevin Sherry, Executive Director, Enterprise Ireland.
9 BUILD SCALE
Pictured prior to restrictions, L-R: Jenny Melia, Divisional Manager, HPSU, Enterprise Ireland; Mark Dunleavy, Head of Commercial, Ireland, Amazon Web Services; Aisling Teillard, CEO and Founder, Tandem HR and Keith Brock, Senior Development Adviser, HPSU, Enterprise Ireland.
Enterprise Ireland’s new start-up initiatives with Amazon Web Services and Enterprise Ireland’s new Microsoft for Startups Part-time Key Manager grant aims to grow the number of In July, Enterprise Ireland revealed a new start-up women in senior positions initiative with Amazon Web Services, providing entrepreneurs and early-stage companies with March saw the introduction of the new access to a range of resources, benefits and Part-time Key Manager grant to support a technologies to help them innovate and grow. In key objective in Enterprise Ireland’s Action October, a collaboration with Microsoft for Startups Plan for Women in Business. This objective is was announced, allowing High Potential Start-Ups to increase the number of women in senior to avail of a package of technical and commercial management and to improve diversity in the supports including business development and cloud leadership of Irish SMEs. services to bring their solutions to market. MORE INFO MORE INFO
Pictured: Women Entrepreneurs from the Class of 2019 at Enterprise Ireland’s Start-Up Showcase in February 2020.
10 INNOVATE
Enterprise Ireland supported innovation €1.06bn* throughout 2020 with a range of vital 194 Horizon 2020 R&D approvals initiatives. The year saw tireless innovation funding to companies from Irish companies that pivoted how they do business and in many cases, what they produce, in order to serve their customers through very difficult conditions.
Pictured: Tom Kelly, Divisional Manager, Enterprise Ireland and Sharon McNevin, Financial Director, Robotics and Drives.
Robotics and Drives launches Pictured, L-R: Mark Christal, Divisional Manager, Regions state of the art solutions and and Entrepreneurship, Enterprise Ireland; Minister Damien English TD and Anna May McHugh, Managing training centre in Mullingar Director, National Ploughing Association. There are currently 35 people, mainly highly skilled robotic engineers, employed by Robotics and Drives Minister Damien English based in Mullingar, but servicing robots all across announces winners of the 2020 Europe. This number is expected to double in the Enterprise Ireland Innovation next number of years. Arena Awards competition MORE INFO
September saw Enterprise Ireland and the National Ploughing Association celebrate the 10th anniversary of the Innovation Arena with a virtual competition. 12 of the most innovative Irish agri-tech and agri- engineering products received awards including a 12 new technology solutions sustainable Black Soldier Fly farm and a ‘Third Arm’ pitch for investment at Enterprise for farm safety. Ireland’s ‘Big Ideas 2020’ MORE INFO Innovations to treat heart conditions, vertigo and improve fertility care were among the business pitches to investors by 12 third-level spin-out companies at Big Ideas 2020 in November. The annual Enterprise Ireland showcase of start- up innovation emerging from higher education institutes moved online for the first time with Eddie McDaid of NUI Galway spin-out Galenband winning the ‘One to Watch’ award.
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*Includes contracts signed in the period between 01-Jan-14 and 18-Dec-20. Taken from European Commission’s ECORDA database, Pictured: Stephen Creaner, Executive Director, Enterprise the figure is subject to change due to real-time updates and does Ireland announcing the ‘One to Watch’ Award at Big not include all monies contracted as that will only be clear when Ideas 2020. H2020 is finalised. 11 EXPAND REACH
Covid-19 delivered a huge shock to the global economy with supply 1,408 60+ chain disruption, business and travel Overseas contracts International Virtual won with Enterprise Buyer Events restrictions, and changing buyers’ Ireland support needs. In response, Enterprise Ireland’s network of 40 international offices rapidly deployed new supports to Irish enterprise to maintain and grow their businesses internationally.
Buyer-Focused Online Events
Robert Troy, TD, Minister of State Department of Enterprise, Trade and Employment with responsibility for Trade Promotion officiated at numerous buyer-focused virtual events Enterprise Ireland’s new throughout the year, in support of Irish Manchester office supports enterprise. clients in this crucial region
Enterprise Ireland’s office in Manchester supports the development and sustainment of Irish export growth to the UK, and particularly in the dynamic business environment of the North West of England, where there are strong opportunities in infrastructure, housing, clean energy and transport, healthcare and manufacturing. The Manchester office will work with the newly established Irish Consulate General for the region to further strengthen Ireland’s presence.
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HiberGene Diagnostics secures CE mark for Covid-19 test
Hibergene Diagnostics, an Enterprise Ireland backed company, delivered a new rapid Covid-19 test, which secured a CE mark. The innovative new test delivers results in just 30 minutes, offering a significantly faster option than the majority of currently available alternatives.
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12 EXPAND REACH
Enterprise Ireland client companies delivered Covid-19 related innovations.
Pictured: Leo Varadkar, Tánaiste and Minister for Enterprise, Trade and Employment.
Airline flydubai now utilising software developed by Dublin- Calls made for Irish businesses based ASD for monitoring to apply to disruptive technologies cleanliness of aircrafts fund
Dublin-based Aerospace Software Developments Tánaiste Leo Varadkar launched a call for Irish firms to (ASD) recently announced that flydubai has begun apply to Enterprise Ireland’s Disruptive Technologies using the latest version of its RFIDAeroTrack software Innovation Fund. This fund was developed to promote to monitor the cleaning of aircraft seat covers. technologies aimed at helping to fight climate change This enables the airline to keep track of the seat and develop food and health resources. The fund will covers at every stage of the cleaning cycle and life bring together the research departments of universities, span via RFID handheld large businesses and SMEs to commercialise these new scanners and labels. MORE INFO MORE INFO technologies.
Reflecting Ireland’s rapid and innovative response Covid-19 contact tracker to the Covid-19 pandemic, particularly in the area of app from NearForm adopted lifesciences and technology, the OECD reported that by several US states Ireland is fifth in the world for the export of Covid-19 related goods and services in 2020. Irish software company NearForm’s Covid-19 contract tracing app, was rapidly launched to support the pandemic limitation efforts. The MORE INFO Covid-19 tracing app has been instrumental in the fight against the virus and has been adopted across the world to curtail the spread of Covid-19. MORE INFO
13 DELIVER GLOBAL AMBITION
1,651 2,000 Travel restrictions and the curtailment of major Virtual attendees at one-to-one trade events in many markets presented a International Markets virtual meetings challenge to exporters. Enterprise Ireland’s Week launch event in-market teams helped to assist Irish firms to find new ways of establishing and protecting business relationships throughout 2020.
Enterprise Ireland’s first virtual International Markets Week
In October, International Markets Week, Ireland’s largest exporter event, saw more than 700 companies meeting 140 market advisors from 40 overseas offices in 2,000 individual virtual one- to-one meetings to plan their Covid-19, Brexit and market diversification strategies. Travel restrictions and the curtailment of major trade events in many markets present challenges to exporters to find new customers and to stay in touch with existing clients. Having direct access to experts in the markets will Pictured seated, L-R: Julie Sinnamon, CEO, Enterprise Ireland, help Irish businesses find new ways of establishing Tim Houstoun, CEO, Global Shares and Host Richard Curran. and protecting business relationships. Top left on screen: Nicola Mitchell, CEO, Life Scientific. Top right on screen: John Power, CEO, Aerogen. Bottom on screen: Kevin Brennan, CEO, Modubuild. MORE INFO
Eight Irish Start-Ups and Minister Troy opens Enterprise SMEs to benefit from over Ireland’s Export Navigator Series €31m in funding Enterprise Ireland launched its series of Exporter June saw an announcement by the European Navigator webinars for Irish businesses in Commission that 72 European start-ups and September. The focus of the series was to outline SMEs were to be awarded €314m in funding to the importance of broadening Ireland’s exporting support the development of their innovations base of companies and the opportunities and and the scaling of their companies. supports available for companies to achieve this goal.
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14 DELIVER GLOBAL AMBITION
Cork company Global Shares to create 150 new jobs
Taoiseach Micheál Martin announced that Global Shares - an employee owned company in Clonakilty, Co. Cork - plans to increase its headcount from 370 to 1,000 by 2024, and fill 150 high-skill, high-value roles immediately. The fintech company says it is on track to achieve Unicorn valuation status by 2024. MORE INFO
Pictured, L-R: Mayor of Clonakilty Padraig O’ Reilly; TD for Cork South-West, Deputy Christopher O’ Sullivan; An Workvivo announces plans Taoiseach Micheál Martin; CEO of Enterprise Ireland, Julie Sinnamon; CEO of Global Shares, Tim Houstoun; EY to create 100 new jobs Entrepreneur of the Year Partner Lead, Roger Wallace.
John Goulding, CEO and co-founder of Workvivo, Jenny Melia, Manager of Enterprise Ireland’s High Potential Start-Ups Division, An Taoiseach Micheál Martin and CTO and co-founder of Workvivo, Joe Lennon at the announcement of plans for the Irish tech company to create 100 new jobs.
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Odyssey VC to create 100 new jobs in Kildare
Odyssey VC, a leading Irish provider of compliant IT solutions, announced that the company is to create at least 100 new jobs, supported by Enterprise Ireland, based at its headquarters in Sallins, County Kildare. Pictured, L-R: James McCarthy, Co-Founder and Conor McCarthy, CEO of Flipdish.
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Flipdish to deliver 300 jobs over two years
Flipdish, the Irish digital food-ordering solution, announced the creation of 300 jobs in December. 100 of those roles were created in 2020 as part of rapid expansion experienced by Flipdish during the pandemic. The remaining 200 roles will be filled by December 2021, with 50 roles being hired for immediately. 15 For more information on events and client supports visit www.enterprise-ireland.com
Enterprise Ireland, The Plaza, East Point Business Park, Dublin 3. DO3 E5R6
Tel: +353 (1) 727 2000
Ireland’s European Structural and Investment Funds Programmes 2014-2020. Co-funded by the Irish Government and the European Union.
Commission of the European Union In 2014, Enterprise Ireland administered a range of programmes that are eligible for co-funding by EU Structural Funds, including the European Regional Development Fund, the Productive Sector Operational Programme, Employment and Human Resource Development Operational Programme, and the two Regional Operational Programmes for the Southern and Eastern and BMW regions
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