Manufacturing & Supply Chain

Enterprise Ireland, the government agency responsible for the development and growth of Irish companies in global markets, invested €27.6 million in Irish start-ups and supported a total of 157 start-up companies in 2024. Investment was provided through Enterprise Ireland’s High Potential Start-Up (HPSU) and Pre-Seed Start Fund (PSSF) programmes.

The results were announced at Enterprise Ireland’s annual Start-Up Day Conference in Dublin with over 600 delegates in attendance to include the ‘Class of 2024’ Enterprise Ireland supported Start-Up companies and the wider Start-Up ecosystem including investors, state agencies and start-up accelerators.

Start-ups supported by Enterprise Ireland in 2024 include:

• 90 High Potential Start-Up’s (HPSU) with high growth potential – start-up businesses with the potential to create 10 jobs and €1 million in sales within three years of starting up 

• 69 Pre-Seed Start Fund (PSSF) investments which inject critical early-stage funding into new businesses

• 63 of the companies supported were based outside of Dublin

• 45 women-led start-up companies were approved investment

• 13 HPSUs emerged from academic research

• 25 companies were spun out of third level institutions

• 34 companies were supported through the Enterprise Ireland Commercialisation Fund Programme.

2024 marked the final year of Enterprise Ireland’s three-year strategy ‘Leading in a Changing World 2022 -2024’ and in that period there were a total of 266 HPSUs and 213 Pre-Seed Start Fund approvals with half of the companies based outside of Dublin. During that time period over €78 million was invested in these start-up companies.

Minister for Enterprise, Tourism and Employment Peter Burke TD said: “The strong pipeline of innovative start-ups emerging over the last three years demonstrates the extraordinary resilience and business ambition of Irish-founded start-up teams, particularly against the backdrop of a challenging global economic period. This government, through Enterprise Ireland, will continue to provide funding, mentorship, market access and tailored programmes as the stepping stones for success. Start-ups are critical to our economic future, our global reputation and our societal progress and we remain fully committed to fostering an environment where innovation flourishes, and where every entrepreneur has the tools needed to thrive and succeed.”

Looking forward, enhancing the pipeline of innovative and scalable start-ups is a key objective of Enterprise Ireland’s new strategy, ‘Delivering for Ireland, Leading Globally, with a target set to support 1,000 new start-ups over the five-year period, from 2025 to 2029.

Kevin Sherry, Interim CEO of Enterprise Ireland, said: “A key objective in our new strategy is to Accelerate Sustainable Irish Business so that in time exporting Irish companies will become the primary driver of the Irish economy. As part of our plan, Enterprise Ireland is undertaking a dedicated consultation process by engaging with the start-up ecosystem on the supports available for early-stage companies in Ireland. This aims to strengthen our pipeline of early-stage companies with the potential to scale internationally, furthering Ireland’s position as a global leader in entrepreneurship and innovation.”

CAPTION:

Pictured (L-R):  Carol Gibbons, Enterprise Ireland; Minister Peter Burke; Aisling Browne, Founder of Glitch Ads; and Jill Keogh, CEO of Sadie’s Secrets.