What we do

• Work with 5,000 Irish owned businesses across all sectors of manufacturing and internationally created services

• Responsibility for FDI in food

• Mandate to drive collaboration and commercialisation of state-funded research

• 32 international offices

• Key focus is the development and growth of Irish companies in global markets

Enterprise Ireland OverviewIrish State Indigenous Industry Development Agency

Americas &

Canada:

• Boston

• New York

• Silicon Valley

• Austin

• Sao Paulo

• Toronto

Southern Europe,

Middle East &

Africa:

• Milan

• Madrid

• Istanbul

• Dubai

• Abu Dhabi

• Riyadh

• Johannesburg

Northern

Europe:

• London

• Paris

• Amsterdam

• Brussels

• Stockholm

Russia, CIS,

Germany,

Central &

Eastern Europe:

• Moscow

• Düsseldorf

• Prague

• Budapest

• Warsaw

Asia Pacific:

• Beijing

• Shanghai

• Hong Kong

• Tokyo

• Seoul

• Singapore

• Delhi

• Sydney

• Perth

We work at the heart of Irish business

in a global marketplace

EI Global Network of 32 offices

Start-ups with export potential

Established SMEs, exporting

FDI in Food

Irish MNCs& large co’s

(250+ emp)

Micro

Enterprise

We work with c. 5,000 companies

across the full business

development spectrum

We have clients across all key sectors

Strategy Development

Funding

Export Assistance

Access to market-led Research & Innovation

Leadership & Management Dev

Eco-System Development

Rich Suite of Supports for Companies

• We are ‘the last mile’

Harnessing State Investment in R&D

New Frontiers

Industry Focused TECHNOLOGY CENTRES

Campus Incubation

€25bn+

How do we measure success?

• Our success is measured by the success of our clients in growing exports, leading to jobs in Ireland.

• 2016 was a strong year.

€23bn+€22bn 201,000 Employed

Key Challenges facing Irish companies

Brexit ScaleCompetitiveness

£

Ambition and Talent

Innovation and R&D

OUR STRATEGY 2017 - 2020

Dual Approach:

Build Scale, Strength &

Ambition of Irish

Companies

Expand the Global

Export Footprint

Dual Approach for Companies

Exports €26bn p.a

+60,000 new Jobs

Sustain existing

+50% R&D Spend

+€4bn Spend in Economy p.a.

What success looks like

by 2020?

Greater scale in Irish enterprise

– at company, market, sector and regional level

Strategic shift in the global footprint

– in markets outside the UK

Unprecedented contribution by Irish enterprise to powering the Irish economy

Why Support Start-ups?

Startup companies are the life-blood of the Irish Economy

Why SCALE is so important

Innovation & Competitiveness

↑ Exports

↑ Profits

↑ Employees

↑ Jobs

↑ Prosperity

Balanced

economic

portfolio

For Businesses For Ireland

Micro-Enterprise (2015) • 31 LEOs operating within Local Authorities

• Centre of Excellence

2015Total number of LEO clients 6,500Net jobs created (FTE) 3,200Total jobs (FTE) 28,000Funding of €15m 890 projects

105

New ‘HPSUs’

112 supported under CSF

c. 500 BP validation support c. €10-15k

900 Business Plans received

1,500 enquiries

Supporting start-ups of High Potential (2016)

Specialist Team of Business Development Advisors

(sector alligned)

61 female entrepreneurs

15 international start-ups

15 spin outs

ELIGIBILITY CRITERIA:

Manuf / ITS

+10 jobs

€1m Sales

Technologically

Advanced prod or serv

What IS a

HPSU?

HPSU’s or High Potential Start-up's are:

SME’s, With the Potential to Develop an Innovative Product or Service for Sale on International Markets

and

The Potential to Create 10 Jobs & Achieve €1 Million in Sales Within 3 to 4 Years of Incorporation.

HPSU Criteria: What do we look

for?

• The Product/Service

• The Customer

• The USP

• The Route to Market

• The Business Model I

• The Team?

Where do our Entrepreneurs Come From?

Indigenous39%

MNCs34%

3rd Level12%

International15%

Indigenous

MNCs

3rd Level

International

[EI client company]

• HPSU Start:• Pre-Seed. Up to 18 month engagement to help get to seed.

• HPSU Accelerate:• Post Seed. Two-year program to get to €1million sales.

How we Categorise Start-ups

• Early Stage

[Not an EI client]Accelerators

Competitive Feasibility Grants

Competitions

10 competitions/yearOnline application

Dragon’s Den selection of winners

Financial Supports pre-HPSU

Feasibility Grant

Competitive Feasibility

14 Institutes of Tech ~400 attend Phase 1

150 full-time on Phase 2 € 15k stipend for six months

€5-25k 150 companies

Business Development pre-HPSU

Early stage - Enterprise Start –introductory workshops

Coaching/training for pitching – for money, customers, partners etc.

Linking with investors, mentors, events, competitions etc.

Diagnostic/scoring Self assessment and with business experts to identify gaps

Developmental Program Assist company achieve product market fit [SPRINT]

Access Silicon Valley

Financial Supports for

Start-ups

SEED

€15k Feasibility Study

€10k Innovation Vouchers

€50k CSF

€100k - €250k

HPSU Equity

€5-15k Competitive Feasibility Fund

Enquiry

FEASIBILITY

Validation

1,500 enquiries annually – translates to 900 business plans received; 450 of which receive some sort of funding

• Post Investment Supports for companies in a growth phase.

Challenge of Scaling

4.1 Years

Achieved by

45%

6.8 Years

Achieved by

16%

7.2 Years

Achieved by

8%

8.1 years

Achieved by

4%

9.4 Years

Achieved by

1.3%

> €1m

> €5m

> €10m

>€20m

> €50m

The Funding Journey

R&D Startup Early GrowthAccelerating

GrowthSustaining

GrowthMaturity

Proof of Concept Funding

DevelopmentCapital

ReplacementCapital

MBO / MBIDevelopment

Capital

Seed First Round Second Round

Business Angels

Founders, Family & Friends

Public Sector

Venture Capital

Public Listing/IPO

Debt

Corporate Venturing

Financing Enterprises

R&D Startup Expansion Large

Start-up Risk Capital.

Innovation Funding

Growth Funding

Seed Funds

IPO

EIIS/BESTrade FacilitiesWorking

Capital Financing

Asset FinancingMicro

Finance

Venture Funds

Innovation Fund Ireland

Development Capital

Bus Angels

Accels

H2020EI CSF

EI HPSU

Venture Debt

Enterprise Ireland’s Direct Equity Portfolio

28

Size of portfolio

c. 2,300 investments in c. 1,250 portfolio companies

Investment Activity

300 investments made each year.

Unparalleled access to Irish deal-flow.

Cost

curent portfolio cost €300m

Realisationsc. €30m p.a.

42%

14%12%

9%

6%

6%5%

4%

2%

Digital Technologies

BPO & CBS

Cleantech

Life Sciences

Food

Engineering

Fin Tech & elearning

Electronics

Print & Packaging

Direct Equity: “High Flyers”

• ICT & International Services

Growth Capital Funds

30

LP investor (often anchor) in range of funds

• Angel

• Seed

• Venture Growth & Development Capital

Covers the spectrum from:

• committed c.€500m over c.40 funds

• underlying funds have aggregate commitments of c. €1,5bn

• commitments with c.20 managers

Investor of scale:

Growth Capital – Selected Investee Companies

ICT & International Services

31

FeedHenry

CurrencyFair

Examples of successful innovative start-ups, both spun-out from WIT

NearForm: Node.js is primarily used to build network programs eg Web servers Spin-out from WIT - based in Tramore As of 2016, they are the world’s biggest Node.js consultancy 100 staff and turnover in excess of €12m 172 million software modules downloaded globally

Clients include: Saks Fifth Avenue, Intel, DPD, Conde Nest, News Corp

FeedHenry: cloud-based enterprise mobile application platform that enables users to

design, develop, deploy and manage applications for mobile devices. $82m Acquisition by Red Hat in Sept 2014

Start in Ireland and

Succeed Globally

Thank You

declan.lyons@enterprise-Ireland.com