11 new Irish-owned high technology start-up businesses in the Shannon region are set to receive an investment of €14m. The Enterprise, Trade and Employment Minister, Mary Harney, said the state is investing €4m with an additional €10m coming from the private sector.
The 11 companies have come through Shannon Development's InnovationWorks process, which is part of the Shannon Development Knowledge Network of technology locations in the Shannon Region.
The companies will generate over 200 jobs over the next three to five years. 72 of these jobs are already in place.
The companies are Limerick-based 3d Eagleview International, eZee Global Software, HomeNet Communications, Internet Control Solutions, Taringold and Vltye Holdings, Kerry- based Brandon Products, Metpro and Altobridge and Clare-based Fraysen Systems and XL Technology Services.
'The founders of these companies must be complimented on their achievements to date,' commented Mary Harney.
She said the recent Global Entrepreneurship Monitor Report for 2002 stated that even though only 9% of the Irish adult population have set up or are in business since 1999, entrepreneurial activity is increasing in Ireland, which now ranks 12th in the world. This is ahead of its European counterparts and just behind the US which is in 11th place.
She encouraged third level colleges to ensure that the research and ideas generated in the educational system are not left in tomes on book shelves but are turned into live projects and real businesses.
