Enterprise Ireland - determined to go back to the 80s?

As we see employment rising and productivity falling, we are told that a new generation of technology driven innovation will provide the next phase of employment.

The front page of the Times gives us the story of the Collison brothers from Limerick, who just sold their first company for €3.2 million. Patrick Collison (19) won the BT young scientist of the year in 2005. They failed to get funding from Enterprise Ireland, and had to move their business to California where they got funding. John (17) is going out there after he finishes his Leaving Cert this summer.

Universities and schools are underfunded, we are broadband deficient and our brightest young people apparently have to leave to get their breaks.
Where are the jobs going to come from?

Could you re-post this in Business and Finance? It looks more comfortable there than in this forum.

We had recent discussions on p.ie about a report on the level of and quality of science education in Ireland and I think this above might be part of it. We should be headhunting these younglads and lassies and providing them with plenty of lee-way to cook up ideas.

One of the bigger parts of the current economy relates to computers, software and electronics. A lot of us aren't really computer literate yet surprisingly. The level of computer education is appalling too aparently in primary schools and that needs to be fixed. A lot could follow naturally from that once there was more of a culture of computer acceptance. When I'm Principal ...

For most of the last decade, we've had really low interest rates - we still do. We could have used that to start businesses, but we didn't. These guys should have been able to borrow the startup funding necessary to make their business viable, but banks would rather lend you the money for a house.

ibis wrote:

For most of the last decade, we've had really low interest rates - we still do. We could have used that to start businesses, but we didn't. These guys should have been able to borrow the startup funding necessary to make their business viable, but banks would rather lend you the money for a house.

It is much easier to get inward investment aid in Ireland than indigenous start up. The people making the decisions don't seem to know the difference between sound bet and loopy fruit business plan.

Do not fear...VC funding is roaring higher. The amount of VC investment last year wa the highest since 2002 and marks a significant jump on 2006. Combined with the vast number of HNWIs on EI's books and the large number of firms moving up their scaling programme and the stunning success of their "Transforming Irish Industry" 3-year plan, I'm bery confident of the under-lying enivronment and growth potential of our start-ups.

We're the most entrepreneurial country in Europe. Our drive and ambition out-classes the timid souls in France whose ambitions are limited to the civil service. We look outwards. We will succeed.

Being just at the moment up to ears in Mr. Ganley's CV, how could I doubt our entrepreneurial spirit.

For Fks sake lads - Enterprise Ireland wouldn't hit a Boeing 747 with a lorryload of Banjos if they tried - absolutely shite

Edo wrote:

For Fks sake lads - Enterprise Ireland wouldn't hit a Boeing 747 with a lorryload of Banjos if they tried - absolutely shite

"Thats not the toilet, edo ,thats the wardrobe"

Edo wrote:

For Fks sake lads - Enterprise Ireland wouldn't hit a Boeing 747 with a lorryload of Banjos if they tried - absolutely shite

What about the regular trade missions they're organising with all the resulting millions in contracts and deals and expansion opportunities for Irish business. Their "Transforming Irish Industry" plan is a stunning success. Shite, I think not.

Sounds like Enterprise Ireland fucked up with that pair of brothers in Limerick

SeathrúnCeitinn wrote:

Sounds like Enterprise Ireland fucked up with that pair of brothers in Limerick

They did indeed, but it'll teach them to be more open in the future. I'm sure they'll be approaching them for their next venture. It simply illustrates the incredible wealth of talent and creativity in this country. Ireland won the Imagine Cup last year, our Young Scientist winners regularly top the charts in the European Young Scientist competitions. We have one of the highest percentages of people with a science degree in our work-force. We have brains to burn.

Ard-Taoiseach wrote:

SeathrúnCeitinn wrote:

Sounds like Enterprise Ireland fucked up with that pair of brothers in Limerick

They did indeed, but it'll teach them to be more open in the future. I'm sure they'll be approaching them for their next venture. It simply illustrates the incredible wealth of talent and creativity in this country. Ireland won the Imagine Cup last year, our Young Scientist winners regularly top the charts in the European Young Scientist competitions. We have one of the highest percentages of people with a science degree in our work-force. We have brains to burn.

The guy in front of me in physics class won the Aer Lingus and the European Young scientist of the Year award for predicting future fractures in air craft wings employing chaos theories. Smart as a new penny. His aura inspired me to a B. Sound chap.

SeathrúnCeitinn wrote:

Ard-Taoiseach wrote:

SeathrúnCeitinn wrote:

Sounds like Enterprise Ireland fucked up with that pair of brothers in Limerick

They did indeed, but it'll teach them to be more open in the future. I'm sure they'll be approaching them for their next venture. It simply illustrates the incredible wealth of talent and creativity in this country. Ireland won the Imagine Cup last year, our Young Scientist winners regularly top the charts in the European Young Scientist competitions. We have one of the highest percentages of people with a science degree in our work-force. We have brains to burn.

The guy in front of me in physics class won the Aer Lingus and the European Young scientist of the Year award for predicting future fractures in air craft wings employing chaos theories. Smart as a new penny. His aura inspired me to a B. Sound chap.

Exactly, and the IMD Institute ranked our education system as the fourth most attuned to the competitive pressures of the global economy. Broadband access is virtually universal across our primary and secondary schools. We have a bright bunch of young people who are a damn site more dynamic, ambitious and out-going than their French, German and Italian counter-parts who think their best days are behind them.

Ard-Taoiseach wrote:

Edo wrote:

For Fks sake lads - Enterprise Ireland wouldn't hit a Boeing 747 with a lorryload of Banjos if they tried - absolutely shite

What about the regular trade missions they're organising with all the resulting millions in contracts and deals and expansion opportunities for Irish business. Their "Transforming Irish Industry" plan is a stunning success. Shite, I think not.

Obviously you didn't see the furore a couple of months ago over how badly organised and out of touch EI actually are when it comes to trade missions then.

Ok last nite - I'd had a few and Im not overly impressed with EI from my dealings with them

Listen - EI are the poor relation of the IDA - not just in money - but in focus, in the talent working for them and the ethos and rasion d'etre of the organisation as a whole.

I work for a Hi-Tech Irish owned (for the mo) Firm that has the highest % of R/D staff in proportion to overall staffing of any firm in the country - out of 250 - over 180 are research scientists (all Phd level), design engineerers,process engineers,advanced manufacturing process engineers etc etc - there all only 15 of us in operations (production,customer support and supplychain) who support them in a company that has grown from 12 of us making a prototype machine in a backroom in a city centre office 8 years ago (we had to knock down the wall as the machine tool was too big to get out the doors in the end - Irish or what!!!) to a company with 10 top Fortune 500 customers, offices and support staff on 4 different contintents , over 100 patents filed and sales topping 3/4 of Billion USD$ since. We are the prototype Irish export firm of the future - we outsource all lot of our manufacturing to Eastern Europe ,the Far East and the US , but like Airbus - all the finished components come to Dublin for final assembly and testing before final shipment to our customers who are now,unforturnately, all outside Ireland. Our days as a bulk manufacturer of other peoples ideas are drawing to a close - Its evolve or die.

Ard - my problem with EI is that the way they operate is not up to best international practice, is obsessed with Statist government thinking ala 1960's Japan and all tho some good stuff will come from their support - its just not good enough - We did some stuff with them about 5 years ago - but to get funding off them we would have had to put ourselves in a straitjacket and our room for maneuver would have been drastically reduced - in the world of supplying capital technology to producers of hi tech consumer goods - you have to be very flexible as you are supplying technology for the manufacture of consumer durables which wont hit the market for a good half decade or so - I had a prototype iphone to play with 5 years ago - its was only a prototype and we have played a small part in bringing that to fruition.

In one sentence - EI have to go from being obsessed with the number of jobs you will create and wanting to know what profitable discoveries and break-thrus you will make in advance before you make them - to supporting the idea - support the idea and researchers and the jobs and wealth will follow.