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Innovate to Grow Growing Exports by Managing Innovation 030 ISSN 1649-7589 VOL 10 | ISSUE 02 | SUMMER 2014 ALSO INSIDE THE DEAL DOWN UNDER Australia’s best opportunities for software and services LATIN LESSONS Mexico’s speedily reforming economy TELLY SALES TV3 goes international with 3 Studios EXPORTERS EXPAND THEIR FOOTPRINT IN AFRICA The move into Nigeria, Ghana and Kenya THE THINGTERNET: HARDWARE GETS A SOFT SIDE Why everyday products need to get smart INNOVATE TO GROW GROWING EXPORTS BY MANAGING INNOVATION 030 025014 038 046 034 026 042 Contents 001 THE MARKET COVER STORY Enterprise Ireland The Plaza 014 Innovate to grow internationally East Point Business Park Growing exports by managing innovation Dublin 3 T: +353 1 727 2954/2000 REGIONS AND SECTORS PUBLICATIONS MANAGER 013 Are we on board? Duncan Black Business opportunities from Milan Expo 2015 E: [email protected] EDITOR 022 The deal down under Mary Sweetman Australian opportunities for software and services E: [email protected] T: +353 1 727 2990 026 Latin lessons DESIGN & PRODUCTION A look at Mexico’s speedily reforming economy Boyle Design Group PROOFREADING 030 Italy and Spain shine on Mary McCauley Harnessing synergies in southern European markets PRINTED BY Turner Print Group 034 In a class of its own The Market is sold by subscription Ireland pitches for Chinese students (+353 1 727 2970) 046 Exporters expand their footprint in Africa Readers may email comments and suggestions to the.market@enterprise- The move beyond South Africa into Nigeria, Ghana and Kenya ireland.com PEOPLE AND COMPANIES The views and opinions expressed in 010 Telly sales The Market are not necessarily those of Enterprise Ireland. Published by TV3 goes international with 3 Studios Enterprise Ireland Corporate Marketing Team. 038 Irish whiskey regains its spirit www.enterprise-ireland.com/en/ Smaller producers look to capitalise on strong tailwinds publications 049 Sky’s the limit for Irish travel software Travel and tourism software companies are flying high in international markets BUSINESS 020 How to know if you’re not on top of product management Assess your company against our ten-point checklist 042 The Thingternet: Hardware gets a soft side Everyday products need to get smart by incorporating software REGULARS 002 Noticeboard News for and from the export community 008 Diary What’s on, where and when 052 Gadgetry No strings attached 054 Good Reading Books worth reading 056 Market Intelligence Recently published market research MAGAZINES IRELAND MAGAZINES IRELAND IRISH MAGAZINE AWARDS 2011 IRISH MAGAZINE AWARDS 2009 BUSINESS EDITOR MAGAZINE DESIGNER 058 Trade Regulations OF THE YEAR OF THE YEAR Trade regulation and negotiation update Enterprise Ireland is funded by the Irish 059 Travel News Government and part-financed by the European Union under the National Development Plan Flights and travel update 2007-2013. 060 City Guide Madrid SUMMER 2014 | THE MARKET 002 Noticeboard Irish Business Cool runnings for Ostia as Gartner endorsement boosts sales artner doesn’t apply its across the spectrum but the most Gcoveted ‘cool vendor’ status successful areas are financial easily, so it was something of services, local government, also a coup when Irish software universities and retailers,” said company Ostia Solutions Power. achieved this recognition mere Ostia decided to approach months after engaging with the Gartner early this year, because respected technology research it found enterprise customers and analyst firm. would often ask for proof It helped that Ostia’s flagship that its technology had been middleware, Portus, isn’t some independently validated. “Our newly minted web app but is target markets are essentially the product of 50 person-years of listening to people like Gartner development. Its name derived and we believe it’s a huge boost SINEAD CROWLEY, EXECUTIVE Connecting Irish from the ancient Roman gateway to our business to have that level DIRECTOR, Portus makes data from legacy of endorsement from Gartner,” IIBN (IRISH innovation to UK industry INTERNATIONAL systems available on a variety of Power told The Market. BUSINESS NETWORK), AT THE at inaugural Ones to devices and applications. Ostia expects its newly acquired ONE TO WATCH To do this, many companies status, which was officially EVENT Watch event traditionally needed integration conferred in May, will help grow teams which made the process revenues to €1.5 million. “We’ll oinciding with President expensive and time consuming. be looking at increasing our sales Higgins’ state visit to Ostia addresses both of these fourfold based on this, and based C challenges in an agile way, using on other activity,” said Power. the UK this April, Enterprise software rather than people. “We “Ultimately, we see our business Ireland held an inaugural can cut integration cost by 70 per growing over the next three years cent but we can also show results to €10–15 million.” Ones to Watch workshop in days rather than weeks or and networking event for months. It’s the speed to market “Our target markets innovative Irish companies. that people are more interested are essentially in,” said CEO John Power. Hosted by the Embassy of Over the past two years, listening to people Ireland, London, the event Ostia has shifted its strategy like Gartner and we from being services-driven to believe it’s a huge was aimed at supporting high being product-focused. To that potential start-ups growth in end, it has been working more boost to our business the UK. Forty such businesses closely with partners such as to have that level of systems integrators and vendors endorsement from participated, joined by 60 of like Software AG, in order to their key UK customers and remain lean while growing Gartner” sales internationally. Ostia has JOHN POWER CEO OSTIA partners, including Facebook, customers in Spanish local Telefonica, Techstars, Vodafone, government, as well as large Marriott Group and The British banks in Germany and Norway. It is also represented in Australia, Fashion Council, as well as South Africa, the UK and US. The strategic UK experts and leading company employs 15 people and British investment institutions. expects to grow to more than 20 in the next two years. It is also The event was also attended by recruiting a direct sales operative the Tánaiste, Eamon Gilmore, for the UK market. “We’re seeing the biggest sales and by Enterprise Ireland CEO in financial services, insurance Julie Sinnamon. and banking. We have customers THE MARKET | SUMMER 2014 003 Russian airline deal for OpenJaw ne of Russia’s largest airlines, S7 OAirlines, has selected Irish company OpenJaw’s complete t-Retail Platform, to enable its customers to search, discover, plan and book their entire trip JIM FITZPATRICK, BROADCASTER AND CONFERENCE CHAIR; PAT O’HARE, as well as to shop across S7’s own and BUSINESSMAN AND FIRST ANGEL INVESTOR IN SURETANK; AND PATRICK JOY, FOUNDER AND CHAIRMAN OF SURETANK. partner networks, through codeshare Growing numbers of VC funds and negotiated prorate agreements. Air create positive funding environment ancillaries and high margin ground ancillaries, such as hotel, car, insurance, ith more local venture capital funding available than ever Wbefore, innovative Irish businesses have now got greater and transfers, will also be available for access to equity funding. That was the message from the 13th cross-sell within the booking flow. InterTradeIreland Venture Capital (VC) Conference, which took place in Belfast this May. “There is an array of funding and equity supports available to Irish high-growth companies, particularly venture capital, seed and business angel funding,” Drew O’Sullivan, InterTradeIreland’s lead equity adviser told delegates. “Over the last 12 months alone, we have seen a number of companies raising significant funds, including AMCS Group Logentries, Movidius, Sophia Search, Swrve, Intercom, Cleverbug and, of course, one of the biggest success stories led by an Irish team, Stripe. “What is particularly interesting to note is the growing number of local investors. Major overseas investors have also been attracted to Ireland,” he added, “including the likes of Highland Capital, DFJ Esprit, Polaris, Better Capital, Carlyle Cardinal, MML and Sofinnova …There has never been a better time for investor-ready SMEs to seek funding in Ireland.” THE VSTREAM Cathx Ocean announces subsea vStream brings F1 Fans GROUP AND SAP HAVE BROUGHT F1 FANS TO engineering win with Bluefin Robotics to the heart of McLaren THE HEART OF MCLAREN Mercedes mission control MERCEDES ildare-based underwater technology company Cathx Ocean MISSION expects to more than double its workforce over the next 24 CONTROL. K rish creative and technology company The months with the creation of 50 additional jobs. The announcement, vStream Group has launched an online made during Enterprise Ireland’s trade mission to Texas, came as US- I initiative for SAP and the McLaren Mercedes based subsea engineering manufacturer Bluefin Robotics confirmed Formula One Team, which it says is truly a that it is to equip its high-speed Autonomous Underwater Vehicles ‘world’s first’. (AUVs) with subsea camera and laser-based imaging technology from The interactive video website gives motor Cathx Ocean. This is the latest in a number of recent deals secured by racing fans around the world exclusive access Cathx in Europe and the US in recent months. to the nerve centre of the McLaren team. Fans Companies in the defence, commercial and scientific space depend can interact with the 2014 McLaren Mercedes on Bluefin’s fast-moving AUVs for the completion of crucial subsea car and gain virtual access to the race trucks survey and engineering tasks, such as real pipeline visual surveying at and trophy cabinet as well as engaging in depths of up to 4,500m, where there is no room for error. an interactive on-board lap with 2009 world The Cathx M12 imaging system aboard the AUV extracts champion Jenson Button.
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