Greg Treston - Enterprise Ireland - IntertradeIreland

InterTradeIreland VC Conference Belfast March 2012
Greg Treston
Enterprise Ireland

Enterprise Ireland’s supports for Start-ups
• €32m -Directly into High Potential Start Ups
-Feasibility/CORD grants
-Mainly Equity with some Employment and R&D grants.
• Customer’s €
-Support in the market through our Overseas Offices.
-Commercial/Leadership Skills Development programmes.
• Investing in Seed and Venture Funds €.
• Start ups Supported annually
-95 new HPSUs.
-60 early stage through “Competitive Start Fund
-200 via feasibility and soft supports

Types of Funds
3 Types of Fund
•Seed Funds
•VC Funds
•Innovation Ireland Funds (new)

Seed Funds
•Limited Partnerships with Irish Banks
•Big Increase since mid 2009
•1 fund at mid 2009; 4 funds now
•€30m at mid 2009; €124m now
•Increase funding obtained as a condition of Bank
Recapitalisation
•High Volume of Investments – c.40 per year

Seed Funds (now €124 million under investment
– up from €30 million in 2009)
Size Manager Start-up Date
Name
€m’s
AIB Seed Funds 1 and 2 53 Enterprise Equity
/ DBIC
April 07/Nov. 09
BOI Seed Fund (incl. €10
Medtech Seed Fund)
BOI Start-up and Emerging
Sectors Fund
32 Kernel Capital Nov. 09 / December
2010
17 Delta Partners December 2010
AIB Start-up Accelerator Fund 22 ACT Venture
Capital
March 2011
Total 124

Current VC Funds
Size (€m’s)
Start-up Date
VC Funds
Atlantic Bridge 1 67 Nov. 06
Atlantic Bridge 2 75 Oct. 2010
BOI Kernel 2 41 July 07
Delta Fund 3 105 July 07
Fountain Fund 1 73 March 08
Seroba / Kernel 75 Jan. 09
Ulster Bank/Diageo 75 Oct. 08
Total 511

Innovation Fund Ireland (new)
•€125m of Available Investment
•Attracting Top Tier VC Funds to Set-up in Ireland
•International “Expressions of Interest” and
Competitive Selection