Boole Syndicate, based in Cork, invested €2.3m in start-ups last year, up 52% on the previous year.

It said a significant proportion of the investments being made by business angels in the Boole Syndicate, managed by CorkBIC and the Halo Business Angel Network (HBAN), are in Cork companies.

New figures from CorkBIC show it has now invested almost €11.5m in Irish start-ups since its inception in 2013.

It said the increase in investment activities has been supported by the growth of the Boole Syndicate.

It now has 52 active members, up 24% from 2020.

"Cork’s economy is thriving and that is reflected in the start-up ecosystem," said Michael O'Connor, CEO of CorkBIC.

"Some of the world’s biggest companies are based in Cork, creating a talent pool for start-ups and a knowledge pool of angel investors who can share their expertise with entrepreneurs.

"As a result, angel investment in Cork is continuing to grow year-on-year," he said.

CorkBIC will showcase the strength of the Irish start-up ecosystem and early-stage investment at the EBAN Congress 2022 on May 18th and 19th, as Europe's business angels meet in-person for the first time in more than two years.

The event will feature panel discussions, networking, an awards ceremony, and a pitching competition.

"Now is the ideal time to showcase that on a European stage and use our knowledge to help our international angel investor community to be successful," said Mr O'Connor.

"We want to show investors that world-class innovation and expansion is happening nationwide and that some Cork companies have recently delivered returns to business angels that are twelve times greater than original sums invested," he added.