Increasing numbers of High Growth companies are locating in Ireland to scale up and internationalise their operations. The exciting commercial and creative mix on offer, together with a business-friendly environment and speed to market are key motivating factors. Ireland is now placing an even stronger focus on attracting High Growth companies that are typically operating less than seven years and have a turnover between $30m-$70m.
While Ireland has a long track record in attracting large multinational companies, its reputation for attracting High Growth companies is now also flourishing. Since 2010, over 150 High Growth global companies have chosen to establish their operations in Ireland, working alongside IDA Ireland.
Ireland offers High Growth companies the ability to quickly establish their operations and rapidly execute their business model. They also benefit from a strong pool of local talent (Ireland is ranked number one for the availability of skilled people), a streamlined visa process for non-European citizens and a long-established, innovative and robust infrastructure.
A wide variety of High Growth companies are choosing Ireland as a launch pad to global success. These companies are characterised by swift growth and disruptive business models, including leading Platform as a Service provider Engineyard, the job search engine Indeed.com and Software as a Service provider Marketo.
The IDA is actively working across all sectors with small, High Growth companies keen to internationalise and grow their business. Companies such as Etsy, SquareSpace, Qualtrics, and MongoDB have chosen Ireland for this purpose.
High Growth businesses represent an increasingly important part of Ireland’s high tech, innovative business eco-system. Their position allows them to link up with established multinationals in ICT, Life Sciences, Financial Services and globally traded businesses forming mutually beneficial relationships. Their presence also strengthens Ireland’s position as Europe’s second most entrepreneurial country.
Ireland has become a thriving hotbed of entrepreneurial activity where mentors, advisors and angel investors are highly visible and active. While raising capital will always be a challenge, the nature of new funds investing in Ireland (such as Highland, Tribal, Frontline, Polaris) are much more founder-friendly and Valley-connected than their predecessors.
High Growth businesses represent an increasingly important part of Ireland’s high tech business ecosystem. These companies can readily tap into the country’s pool of talent and established infrastructure that has been ranked as a top performer when it comes to delivering innovation.
Ireland tops the rankings for flexibility and adaptability of its labour market. This should be no surprise given 50% of people are aged under 35.
High Growth companies are encouraged to make the most of opportunities to connect with third-level institutions and their graduates, as well as with indigenous companies of similar scale and potential. Such connections are actively encouraged and facilitated by IDA Ireland.
Rory Mullen leads a dedicated team focused on the business needs of High Growth companies. To date, over 100 high growth companies have successfully scaled and internationalised using Ireland as their European base. IDA’s team has members on the ground in California - Irvine and Mountain View, Atlanta, New York, Austin, London and Frankfurt as well as Ireland.
Contact us at IDAEmergebiz@ida.ie
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Rent the Runway, Inc., the company that created the world’s first living, sustainable closet by enabling women to rent versus buy their clothing, has selected Galway for its first-ever international technology office.
LogMeIn Inc., a leading provider of cloud-based connectivity and recognized as one of the world’s 10 largest public Software-as-a-Service (SaaS) companies, today announced that the company has officially opened its new international headquarters in the Reflector Building, Grand Canal Dock. The investment is supported by the Department of Jobs, Enterprise and Innovation through IDA Ireland.
AFEX, one of the world’s largest non-bank providers of global payment and risk management solutions, has announced the creation of 10 new jobs, based in Dublin.
Greenfield Global Inc., Canada’s largest producer of alcohol and fuel ethanol, and one of the largest alcohols and solvents companies in North America, today announced plans to establish a new EU manufacturing headquarters in Portlaoise, Ireland.
Minister of State for Trade, Employment and Business, Pat Breen TD today announced that Johnson & Johnson Vision Care (Ireland) will be adding approximately 100 new roles as part of about a €100M expansion of its manufacturing operations at its site in the National Technology Park, Plassey, Limerick.
Markforged, a leading manufacturer of industrial 3D printers, today announced the opening of its first official European headquarters in Dublin, Ireland, part of the company’s planned global expansion for 2019. Markforged is opening its new European headquarters with the support of the Irish Government through IDA Ireland.
GrandPad, the first tablet-based solution designed exclusively for older people, is now available in Ireland and the UK. The high-tech, high-touch company whose mission is to improve the lives of millions of older people, as well as their family and friends, is celebrating its European launch with the opening of its headquarters in Gorey, Co Wexford, Ireland.
Dassault Systèmes opened their new office in Phoenix House, Monahan Road, Cork today. The French Ambassador H.E. Stéphane Crouzat presided over the opening ceremony with Simon Coveney, Tánaiste & Minister for Foreign Affairs & Trade, and Cllr. Mick Finn, Lord Mayor of Cork City Council, with many members of the French and Irish business communities in attendance.
TradeIX, the award-winning technology platform provider driving innovation in trade finance, is expanding its Global Headquarters in Dublin by adding 70 new jobs across engineering, sales, customer service, and product development.
EML Payments Limited (ASX: EML) (“EML”) today announced it is expanding its operation in Galway with the establishment of a Technology & Innovation Hub in Galway, employing 20 people.
Global cybersecurity leader Forcepoint today moved to its permanent office for its Center of Excellence in Cork, Ireland. The investment, supported by the Irish Government through IDA Ireland, continues to focus on new product development in the cloud and endpoint cybersecurity technology space.
Valeo, today announced it is to invest €44M in a major RD&I investment programme, which will build on the Group’s strong capability in Advanced Driver Assistance Systems (ADAS) and position them at the forefront of developments in autonomous vehicles. This investment will lead to the creation of 50 new R&D roles over the next three years, which will see its Irish R&D centre grow to over 500 people and become one of the largest R&D facilities in Ireland.
The Electric Power Research Institute (EPRI) is forming a new business entity, EPRI Europe Limited, to expand its collaborative research and development programs in Europe.
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Legend Biotech Ireland, Ltd. announces the official opening of the company’s European headquarters (HQ) at 10A Ballymoss Road, Sandyford Business Park, Dublin 18, Ireland. Legend Biotech established their European HQ in Dublin at the end of 2017 and has been focusing primarily on research and development (R & D) and business activities.
Global digital workflow platform provider increases investment and creates new jobs in Ireland
Soldo, the London-based fintech offering payment and spend management services to businesses, has today announced it has been awarded an Electronic Money Institution licence from Ireland’s Central Bank
Even by the hyper-growth standards of the technology industry, Park Place Technologies stands out for its rapid recent rise. Last year, the company had its sixth successive ranking on the Inc. 5000 list of the USA’s fastest-growing private companies. In the past 18 months, it closed 10 acquisitions spanning Latin America, Asia and Europe.
Minister Heather Humphreys today announced that IDA Ireland has selected Monaghan as the location for a new Advanced Technology Building (ATB) and appointed a design team.
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