ENTERPRISE IRELAND, the government agency responsible for the development and growth of Irish companies in global markets, has revealed it invested €27.6m in Irish start-ups in 2024.
The body supported 157 start-up companies last year, with investment provided through its High Potential Start-Up (HPSU) and Pre-Seed Start Fund (PSSF) programmes.
The figures were announced today at Enterprise Ireland's annual Start-Up Day Conference at the Aviva Stadium in Dublin, with more than 600 delegates in attendance.
Opening the conference, Minister for Enterprise, Tourism and Employment, Peter Burke TD, said: "Today is about celebrating the spirit of Irish entrepreneurship.
"The strong pipeline of innovative start-ups emerging over the last three years demonstrates the extraordinary resilience and business ambition of Irish-founded start-up teams, particularly against the backdrop of a challenging global economic period."
Last year marked the final year of Enterprise Ireland's three-year strategy, entitled 'Leading in a Changing World 2022-2024'.
In that time, there were 266 HPSU and 213 Pre-Seed Start Fund (PSSF) approvals, with more than €78m invested in the companies, half of which were based outside of Dublin.
Start-ups supported by Enterprise Ireland in 2024 included 90 HPSUs with the potential to create 10 jobs and €1m in sales within three years of starting up and 13 HPSUs from academic research.
Meanwhile, 45 start-up companies that were approved investment in 2024 were women-led, while 63 were based outside the capital.
Exporting companies tipped to drive economy
Today's Start-Up Day — the largest annual event on Ireland's start-up calendar — comprised hundreds of entrepreneurs, investors and stakeholders, bringing together companies from sectors including ICT, life sciences, fintech, food and sustainability.
This year's conference included a pitching element, featuring top university (pre) spin-out ventures emerging from Enterprise Ireland's Commercialisation Fund.
These teams will pitch their visionary concepts, competing for an award and the prestigious opportunity to participate in UC Berkeley's Venture Connectivity Program.
Looking forward, enhancing the pipeline of innovative and scalable start-ups is a key objective of Enterprise Ireland's new strategy, 'Delivering for Ireland, Leading Globally'.
It has set a target to support 1,000 new start-ups over the five-year period from 2025 to 2029.
"Start-up Day 2025 is a celebration of Ireland's strong and dynamic start-up community and the Start-Up class of 2024 have and will continue to play a significant role in contributing to the vibrancy of Ireland's start-up ecosystem," said Kevin Sherry, Interim CEO of Enterprise Ireland.
"A key objective in our new strategy is to accelerate sustainable Irish business so that in time, exporting Irish companies will become the primary driver of the Irish economy.
"As part of our plan, Enterprise Ireland is undertaking a dedicated consultation process by engaging with the start-up ecosystem on the supports available for early-stage companies in Ireland.
"This aims to strengthen our pipeline of early-stage companies with the potential to scale internationally, furthering Ireland's position as a global leader in entrepreneurship and innovation."
See More: Enterprise Ireland
