More than 70 high potential start-up (HPSU) companies were established in 2009, with the potential to create up to 900 jobs over the next three years, Minister for Trade and Commerce Billy Kelleher said today.
Speaking at Enterprise Ireland's annual High Potential Start-up Showcase event, Mr Kelleher said the 73 Enterprise Ireland supported ventures are an integral part of the Government's blueprint for a smart economy in Ireland.
Total sales, meanwhile, will rise to €600 million, mainly driven by exports, which is expected to account for 80 per cent.
"It is absolutely critical for the development of the Smart Economy that we do everything possible to drive the continued growth of entrepreneurial, innovation led companies that will underpin Ireland's reputation world wide as a centre of innovation excellence," Mr Kelleher said.
"They are at the forefront of innovation, creating the products and services that add value for customers, opening new markets, increasing export sales across the globe, and securing economic growth and jobs here at home.
"This is a very strong performance by these new companies that will contribute to the Government's strategy for positioning Ireland centre stage as the international hub for innovation."
Enterprise Ireland chairman Hugh Cooney said the companies were proof that there were "significant opportunities" for new business start ups, particularly in lifesciences, bio-tech and medical technology, food, telecommunications, internet services and other niche areas.
"These are sectors in which Irish firms are creating a sustainable competitive advantage and building international market share," he said.
