Saturday, December 16, 2006

Startup funding in Ireland

In reference to Web 2.0 Ireland post Web2.0 Funding - a possible scenario
(has good summary of latest IRL govermet budget and BES Scheme and how it can help startups)
as an Irishman in USA and contemplating to return someday, I see a "lack" of visible early stage funding available in IRL.

Now this is written mostly from afar (and hence looking at blogs, websites, VC sites, finance circles, google etc.) although I have a few 'startup' connections across the waters.
The UK has a similar issues but not on such a grand scale.

I see EI/IDA doing some good and the goverment making the right noises just not seen any real concrete results (maybe 2 early 2 tell).

I presume as u indicate those (would be angels) with money in their pockets are getting higher (and potentially less risky) returns from their other investments (property). In that respect it will take quite a bit of correction (signs are there 4 quite some time but not really happened yet) b4 they "need" to go look elsewhere. Also expect they will need some education (and/or brokering) b4 they dabble in 'risky' technology startups.


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At December 18, 2006 at 3:00 AM , Anonymous Fergus Burns said...

Hi Brendan

Thanks for the link to web2ireland

Your point is very valid - but I think we are seeing some changes [recent budget, interest increase, etc] will move some monies into other investments

At the moment "smart" money in Ireland is in very short supply for tech space.

At December 18, 2006 at 5:45 AM , Blogger Jonathan Ryan said...

Hi Brendan
Enterprise Ireland is a development agency that partners with US entrepreneurs and their knowledge-based start-up companies to accelerate global business success, facilitated by a base of operation in Ireland.

I am an Enterprise Ireland executive and I work with US based promoters to locate their start-ups in Ireland.
If you are interested in starting your own business in Ireland and provided it meets our critiera of a knowledge based enterprise with potential to globally scale then I would like to make contact with you.

At December 18, 2006 at 3:44 PM , Blogger The Lal said...

Jonathan - will give u a tinkle :) Nice 2 c some progressive govn officals getting IT; but then EI/IDA are a big reason (as I c it) 4 the Celtic Tiger over the last several years.

Fergus, as one of the more "progressive" movers-n-shakers (Nooked) on the IRL Web 2.0 scene your comments are well respected.
I think "Smart" money is a key factor as like any industry there is a huge difference between someone that is in the 10/10 category and others in the 3 out of 10. This applies to VC/angels as well, at least from my experience.
Interesting that Vinod Khosla from Kleiner Perkins (one of the BIG men in the Valley) at the Web 2.0 summit is talking about too much money these days (the new Web 2.0 arena).
Not that u have that problem in IRL; but thankfully (and kudos 2 the IT@Cork and all the others that are pushing IRL on the Web2.0 stage) some of that should change as IRL gets more exposure.


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