November, 2010


25
Nov 10

BOI Nurturing the growth of innovation

Bank of Ireland’s intimate relationship with Enterprise Ireland affords them the opportunity to nurture start-ups throughout their lifecycle

The importance of innovation to economic growth is undisputed. Increasingly, governments around the world are seeking ways to maximise innovative capacity and performance within their economies. And it is generally accepted that innovation will play a critical role in Ireland’s economic recovery.

The figures speak for themselves in this regard. Enterprises involved in innovative activity are far more productive and profitable than those that aren’t. Companies active in innovation have an average gross value add (GVA) per person of more than €164,000 per annum, compared to €89,000 for non-innovative firms. Furthermore, innovative enterprises are twice as likely to be engaged in export (66 per cent) as non-innovative enterprises (33 per cent).

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25
Nov 10

Hostelworld.com signs contract with Brazilian travel agency

Hostelworld.com has secured a contract to provide accommodation for one of Latin America’s biggest travel agencies. The three-year deal with Despegar.com was secured throughout the Enterprise Ireland trade mission in Brazil, which aims to help Irish companies create new business and sales overseas.

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25
Nov 10

AIB starts nationwide programme to help Irish SMEs

As a part of a  series of initiatives to support Small and Medium Enterprises in the country, Allied Irish Banks (AIB) Tuesday initiated a nationwide programme of customer seminars.

AIB, a major commercial bank based in Ireland, welcomed the findings of the most recent Credit Reviewer’s Report which shows that significant progress continues to be made in providing viable SMEs with access to bank finance.

The second Quarterly Report from the Credit Reviewer also confirmed that AIB has met all planned commitments to date as part of its SME Lending Plan 2010 / 2011.

AIB will make a minimum of €6bn in SME funding available under the plan.

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23
Nov 10

Green economic zone promises 10,000 jobs

10,000 jobs over the next five years are forecast for the country’s firstgreen economic zone, An tSlí Ghlas – The Green Way, with recruitment already underway on a number of projects.

The project partners include Dublin City University, Ballymun Regeneration, Dublin Airport Authority, DublinInstitute of Technology, Fingal County Council, Dublin City Counciland North Dublin Chamber of Commerce.

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23
Nov 10

Irish companies are among EU’s most innovative

Fifty-seven per cent of Irish companies experienced innovation activity between 2006 and 2008 and Ireland can boast a higher than average global exports record, a European Commission (EC) survey suggests.

The announcement was made by the European Commissioner for Research, Innovation and Science, Maire Geoghegan-Quinn, who said the survey found these innovative companies earned Ireland the fifth best figure in the European Union in terms of innovation.

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23
Nov 10

Trade mission to Brazil ‘will aim to create jobs’

Over 30 Irish businesses are on a four-day trade mission to Brazil with the aim of increasing exports to the country and creating jobs in Ireland.

The Minister for Trade, Billy Kelleher, has joined the 34 Irish firms, which include telecoms, education andfinancial services companies on the visit which begins today (Monday 22nd).

According to the government, Ireland’s annual exports to Brazil are worth over EUR213 million and could increase in the run-up to the World Cup in 2014 and the Olympics in 2016, both of which the South American country is hosting.

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23
Nov 10

Tayto Park to create 85 jobs

The opening of a new theme park in Co Meath will generate 85 new jobs.

According to the Meath Chronicle, as well as creatingemployment positions, Tayto Park’s opening is also expected to be beneficial for the surrounding area.

It is hoped the park, located near Ashbourne, will attract 200,000 visitors each year and it will be able to cater for 4,500 people every day.

Businessman Ray Coyle has invested EUR8.5 million in the project, turning 55 acres of Meath farmland into an American-themed park.

It will feature exotic animals including buffalo, cougars and mountain lions, as well as over 100 attractions.

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23
Nov 10

EI to draw €500m from funders

Several international venture capital firms are in talks with Enterprise Ireland about the Innovation Fund Ireland initiative, which is intended to make €500 million available to Irish firms.

Ahead of a deadline for expressions of interest this week, discussions are taking place with funding sources from a number of countries, including the US and Britain.

Enterprise Ireland is understood to be confident that a number of deals will be struck under the initiative, which was originally announced in the government’s ‘smart economy’ strategy in 2008.

The funders in talks about the scheme are thought to include Highland Capital Partners, an international funder with offices in the US, Europe and Asia.

Irishman Fergal Mullen is a partner in Highland, which is believed to be considering setting up a dedicated European fund based in Dublin.

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22
Nov 10

€3m DCU fund to propel start-ups into the limelight

A €3million seed venture fund for start-up technology companies is to be launched at DCU tomorrow.

A total of 24 early stage companies will be supported over the next two years by the fund, which will be called Propeller, and is being run by DCU’s Ryan Academy for Entrepreneurship.

The programme is to be launched by EU Commissioner for Research, Innovation and Science Máire Geoghegan-Quinn.

The fund is being financed by the One Foundation, which is funded by businessman Declan Ryan, son of Ryanair founder Tony Ryan. It will be governed by a technology advisory board, chaired by Ryan.

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22
Nov 10

40 new jobs for Galway

General insurer RSA Insurance Ireland Limited has announced the creation of 40 new jobs in Ballybrit.

The company currently employs over 100 people in Galway and the new positions are in business development and customer care activities to support the servicing of RSA’s personal insurance customers across Ireland.

Recruitment for the roles has commenced and the positions will be filled by mid-2011.

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