New report early stage state supports for Irish tech sector

A comparison of early stage state supports for the indigenous tech sector in Ireland and Northern Ireland’ with Minister Jack Chambers

The Minister for Public Expenditure, Infrastructure, Public Services, Reform and Digitalisation, Jack Chambers today launched a new report, ‘A comparison of early stage state supports for the indigenous tech sector in Ireland and Northern Ireland’ which was conducted by Scale Ireland and QUBIS, and commissioned by InterTradeIreland.

Supporting the Irish tech sector

The report, which was conducted over the last year, provides an in-depth and comprehensive comparative analysis of the state financial supports available for supporting early stage tech start-ups in Ireland and Northern Ireland. It also contains several proposals on enhancing collaboration between Ireland and Northern Ireland and their indigenous tech ecosystems.

Some of the Key Proposals

• To further support the development of a more integrated all-island ecosystem, the state agencies should initiate a forum with stakeholders from Ireland and Northern Ireland on an annual or twice yearly basis.
• A joint funding initiative for companies in Ireland and Northern Ireland under the Shared Island initiative should also be explored. A Department for the Economy-led study could consider exploring joint funding mechanisms, such as a cross-border tech seed fund that leverages incentives to stimulate investment in high-growth sectors, strengthen regional economic clusters, and support sustainable, knowledge-driven business growth across Northern Ireland and Ireland.
• Launch and fund an initiative to gather more specific data to assess the state and impact of both indigenous tech ecosystems and how they compare and interact. The Programme for Government in Ireland contains a

-commitment to commission a statistical series of comparative data. The all-island ecosystem might be a suitable subject for consideration in this regard, potentially providing the basis for this further study

The CEO of Scale Ireland, Martina Fitzgerald said ‘This report presents a strong vision for enhanced collaboration between the indigenous tech sectors in Ireland and Northern Ireland. It is very clear there are opportunities for further joint funding initiatives and data collection and this can be progressed by the setting up of a Stakeholder Forum bringing together key agencies and organisations’.

The Chair of Scale Ireland,Brian Caulfieldsaid ‘This report provides valuable, in-depth insights into early stage state supports and funding in Ireland and Northern Ireland. It highlights shared challenges and opportunities in relation to funding. It will be of great value to founders and will, hopefully, encourage increased policy coordination’.

Rachael Corridan, Programme Manager, InterTradeIreland said ‘The Comparison of Early-Stage State Supports for the Indigenous Tech Sector in Ireland and Northern Ireland report highlights the importance of cross-border collaboration in addressing shared challenges and unlocking growth opportunities. InterTradeIreland is proud to support this project, and the work of Scale Ireland and QUBIS through our Synergy programme’.

Prof Brian McCaul, CEO, Qubis, “This report highlights how Ireland and Northern Ireland have complementary tech ecosystems with real potential to achieve more through closer collaboration. By strengthening all-island cooperation we can improve access to funding, talent and international markets and build a more competitive innovation ecosystem”

Scale Ireland is the independent not-for-profit representative organisation for Irish tech start-up and scaling companies. Founded in late 2019, Scale Ireland has over 820 members of all stages, sizes and sectors in the tech start-up community. Its key mission is to make Ireland a leading location for innovation and entrepreneurship. Scale Ireland is now the largest representative organisation for the indigenous tech sector.

InterTradeIreland which connects and helps businesses across the island to trade cross-border, and to collaborate, innovate and attract investment. Established under the Good Friday Agreement, InterTradeIreland’s approach is ‘value through collaboration’. The report was conducted under Synergy – InterTradeIreland’s cross-border cluster and networking initiative that aims to scale cross border collaboration among SMEs and other ecosystem players such as universities, third sector organisations, government agencies and multinationals using cluster and networking supports.

QUBIS Ltd is the commercialisation arm of Queen’s University Belfast, located in Northern Ireland. QUBIS plays a pivotal role in fostering innovation and entrepreneurship by supporting the development and scaling of spin-out companies based on the university’s cutting-edge research.  The organisation provides a range of services, including funding, business mentorship, and access to extensive networks. With a focus on high-growth potential ventures, QUBIS has helped position Northern Ireland as a hub for innovation and research-driven enterprise on the global stage. Although most of QUBIS investments are made off balance sheet, QUBIS also operates the QUBIS Innovation Fund (managed by Sapphire Capital), an SEIS & EIS fund, aimed specifically at university spin-out companies.

See more breaking stories here.

More about Irish Tech News

Irish Tech News are Ireland’s No. 1 Online Tech Publication and often Ireland’s No.1 Tech Podcast too.

You can find hundreds of fantastic previous episodes and subscribe using whatever platform you like via our Anchor.fm page here: https://anchor.fm/irish-tech-news

If you’d like to be featured in an upcoming Podcast email us at [email protected] now to discuss.

Irish Tech News have a range of services available to help promote your business. Why not drop us a line at [email protected] now to find out more about how we can help you reach our audience.

You can also find and follow us on Twitter, LinkedIn, Facebook, Instagram, TikTok and Snapchat.