High number of start-ups in 2002 reveals strong Irish entrepreneurship culture, says minister
The establishment of 51 new high growth potential start-up businesses in 2002 is indicative of Ireland's commitment to developing and supporting an entrepreneurship culture, claimed Mary Harney, Ireland's Tánaiste (Deputy Prime Minister) and Minister for Enterprise, Trade and Employment, on 7 April. Speaking at a business start-up event in Dublin, Ms Harney said that the number of start-ups during a time of difficult global markets is clear evidence of a strong level of serious entrepreneurial activity. 'Despite the continuing tough global environment, the rate of new start-ups continues to be strong running at approximately one every week,' she said. The newly established businesses have received a total of 70 million euro in state aid and it is estimated that these businesses will employ up to 1,600 people in the next three years. In the first quarter of 2003, Ms Harney noted that some 13 start-ups with a total investment of six million euro got off the ground. Ms Harney explained that the secret behind such success stories is the Irish entrepreneurship support mechanism. 'State support for entrepreneurship, [...] is clearly focused on the ongoing creation of new entrepreneur led business entities with a solid base in innovation, intellectual capital and a capability of becoming internationally competitive within a short period of time.' There has also been a change in public opinion towards setting up new innovative enterprises. 'We have moved well away from a culture and a society that viewed entrepreneurs with scepticism. Now we view entrepreneurs as local heroes with the courage to take on the new challenges that come with starting and building a successful business,' said Ms Harney. Furthermore, the success of Irish entrepreneurs may also be explained by the fact that they have set their sights and ambitions far beyond the domestic market and have diversified their activities, claimed the minister. According to the governmental agency Enterprise Ireland, the number of start-ups will increase in 2003 due to diversification into areas such as biotechnology, photonics, medical devices and functional foods. Before growth in entrepreneurship was limited to the information technology sector. 'These are new areas of opportunity where we have a strong research base - a base that can provide the foundation for a new generation of campus companies. [...] It is vitally important for the future that we facilitate the individuals who will be responsible for the development and creation of the next wave of internationally successful Irish owned and Irish led companies [...],' concluded Ms Harney.
Kraje
Ireland