Entrepreneurship in Ireland

Strengthening the Startup Community !

Report of the Entrepreneurship Forum - January 2014

7 members of the Entrepreneurship Forum.

100+ stakeholder consultations and submissions.

3 key principles.

6 pillars of an effective startup ecosystem.

69 recommendations for Government and industry.

1 strengthened startup community in Ireland.

By the numbers…7

100+

69

1

63

strengthened startup community in Ireland.

…will be built on

individuals’ strengths.

…is Government facilitated,

not led.

3 key principles

…starts with culture of

citizenship.

Change for Ireland’s startup community…

6 pillars

Startup Ecosystem‘can-do’ culture

peer mentoring

vibrant hotspots access to talent

public policy

access to finance

CHANGE …starts with culture of

citizenship.!

Give before you get.

Innovative “Can-Do” Culture

Culture EducationUnder-

represented groups

Mentorship& Peer

Learning

“Always two there

are, a master and an

apprentice.”

the 80/20 rule

Office Hours

Peer Mentoring Webinars

Skill development programmes

Vibrant Hotspots of

Activity

Startup Ireland

Speed Dating

Business Days

Startup Weekend

Startup Grind

Higher Education Institutions

Co-working spaces

Accelerators

CHANGE…will be built on

individuals’ strengths.

Focus on people.

Access to Talent

Employee Stock Option Programmes

JobBridge Corporate

Job Bridge

Expansion

Visa Reform

Access to Finance

How are entrepreneurial businesses funded in Ireland?%

of r

espo

nden

ts th

at u

sed

fund

ing

sour

ce

0%

18%

36%

54%

72%

90%

2%4%

7%

43%

33%

7%4%

4%4%7%

40%

29%

6%9%

Initial funding Working capital

Venture Capital

Investment from state agency

Bank finance

Bootstrapped or self-funded

State aid and grants

Support or investment from

friends/family

Angel Investors

Source: Survey of 2013 Ernst&Young Entrepreneur Award Winner Alumni n=57

Source of majority funding for most recent entrepreneurial venture

Source: Survey of 2013 Ernst&Young Entrepreneur Award Alumni, n=57

Did you

know?

Encouraging investment in

startups

Access to credit

Ease strain on cash-flow via

prompt payments

Crowdfunding

CHANGE …is Government

facilitated, not led.

Minimise reliance on government subsidies and

avoid duplication of existing supports.

Public Policy

LEOsADVICE

TRAINING

PERMITS

Funding

TAXATION

Entrepreneurship Policy Unit

‘Startup Monitor’ to track

performanceInformation Signposting

Taxation/social welfare

A call to action.

bit.ly/IrelandStartups

bit.ly/EntrepreneurshipIRL2014 !

bit.ly/EFslideshare!

• Illustrations by ThinkVisual: http://www.thinkvisual.ie/

• Kids coding (slide 7): coderdojo.com

• Yoda (slide 9): http://kellyoldershaw.com/finding-your-wise-manwoman-or-mentor/yoda-quote-star-wars-650x487/

• Dogpatch labs (slide 10) courtesy of rude baguette www.rudebaguette.com

• Startup Ireland at Dublin Web Summit 2013 (slide 15), courtesy of Startup Ireland www.startupireland.ie

• Dept of Taioseach (slide 22) http://upload.wikimedia.org/wikipedia/commons/a/a6/Dublin-Dept-Of-Taoiseach-2012.JPG

Image references