The Irish government’s trade and innovation agency, Enterprise Ireland, plays a pivotal role in shaping the economic landscape of the country and helps Irish businesses achieve global success. With a keen focus on supporting indigenous businesses and nurturing a thriving startup and R&D ecosystem, Enterprise Ireland is a driving force behind Irish companies conquering global markets and the country’s reputation as a global innovation hub.
At the heart of Enterprise Ireland’s mission is the relentless pursuit of economic prosperity. By providing financial assistance, strategic guidance, and access to international markets, the agency empowers Irish companies to expand their international horizons and reach new global heights.
Enterprise Ireland plays a vital role in driving innovation. Through funding R&D initiatives, it fosters cutting-edge technologies and helps Irish companies stay ahead in a rapidly evolving global marketplace. This commitment to innovation positions Ireland as a leader in sectors such as technology, pharmaceuticals, renewable energy, cybersecurity, high-tech construction, healthcare, and beyond.
Reflective of its pursuit to produce innovative Irish companies, Enterprise Ireland has also earned the distinction of being one of the largest venture capital investors in the world by deal count, and is Europe’s most active domestic venture capital investor, providing crucial financial support to promising Irish enterprises.
With an exceptionally vibrant and modern economy, Ireland proudly stands as the ninth largest foreign direct investor in the United States, having invested USD 269 billion, according to the US Bureau of Economic Analysis. Remarkably, over 100,000 individuals across all 50 states are employed by 900 Irish companies that export to the US. The unprecedented demand in the US for products and services from innovative Irish businesses drives their investments and growth within the US market. This exemplifies Enterprise Ireland’s unwavering commitment to fostering mutual growth between the two nations, building upon the already thriving trade ties.
Leo Clancy, CEO of Enterprise Ireland stated, “I believe that the best is yet to come in terms of Irish companies growing globally. Our vision is to continuously grow our enterprise base and innovation pipeline, enhancing our impact in Ireland and all of the markets we trade with. Last year we grew our exports to over EUR 30 billion from Irish owned companies. This was a growth of 19% in one year, which was a record in terms of volume and percentage.
“Enterprise Ireland’s client companies span a diverse range of sectors. They deliver world-class expertise and products to customers across the US. Among these exceptional companies is the tech unicorn, Workhuman, renowned for providing cutting-edge employee recognition and performance management solutions to blue-chip customers such as LinkedIn, Cisco, and Procter & Gamble. Another prime example is Daon, a leading Irish biometrics firm that verifies user identities for Mastercard and has partnered with US Customs and Border Protection to develop the innovative Simplified Arrival program for passengers entering the US.
“Co-innovations, including within the healthcare and high-tech sectors, are also particularly notable. Irish companies have built the majority of the data centers, large electronic factories, pharma, and medtech facilities in Ireland, as a consequence of American FDI. After gaining construction and engineering expertise locally, Irish companies are bringing their know-how and skill-sets in building to other markets. With the current industrial boom occurring in the USA, they can also look to Ireland in terms of the ability to help build infrastructure.”
He added, “Northwell Health, New York State’s largest healthcare provider and private employer, with more than 81,000 employees, is benefiting from solutions Irish companies deliver to enhance customer experience and improve efficiency and productivity, thanks to a strategic relationship with Enterprise Ireland. For instance, Dublin-based CliniShift has created software to streamline hospital staff rostering and internal communications. The company recently entered a major partnership with Northwell Health.
“Northwell Health invested in Nova Leah, an Irish-based world leader in cybersecurity solutions for medical device manufacturers and healthcare providers. Northwell Health’s investment is helping Nova Leah expand beyond manufacturers to hospitals, and is now piloting a new healthcare provider solution in the Mayo Clinic in Minnesota.”
Beyond these capabilities, another Enterprise Ireland success story Clancy was eager to share, is XOCEAN, a company known for being a leading provider of uncrewed data delivery services. He added, “XOCEAN provides turnkey ocean data. From mapping the seabed to environmental monitoring, they survey the ocean for offshore wind and other industries. Their innovation is replacing expensive, crewed vessels. They are a brilliant example of innovation stemming from Ireland, that might be considered coming out of left-field. Ireland delivers unique solutions, is agile, and has high quality products and services. However, the scale of Ireland can sometimes be a challenge, as people are not aware of the breadth of innovation that is available.”
He elaborated, “Often people in the US think that it might be a one-way street to find their own Irish roots and celebrate Irish heritage, which we love, but we are increasingly celebrating and understanding American culture and heritage in Ireland too. A recent instance was the Notre Dame vs. Navy American college football game that took place in Dublin in August.”
This prime example of cross-cultural celebrations brought nearly 40,000 American fans directly from the USA to Ireland, which set a new record for the largest number of Americans traveling internationally for a single sporting event, and contributed over EUR 145 million to the local economy.
In an era of increasing globalization, Ireland stands as a beacon of stability and growth, and has become a trusted partner to the world’s most dynamic companies, delivering leading-edge products and services that help them stay ahead in a fast-changing world.