Up to 1,900 jobs expected, says Minister Ahern

Up to 1,900 new jobs are expected to be created over the next three years in the Republic of Ireland, it was announced last week.

The projected figures came as the Government announced that in 2003 Enterprise Ireland supported the establishment of 61 new high growth potential start-up businesses involving a total investment of €75 million.

Making the announcement, Minister of State for Trade and Commerce, Michael Ahern said: "Ireland needs entrepreneurs with the drive and ambition to grow businesses capable of competing in world markets. The companies here today are built on a solid foundation of innovation and intellectual capital and are further evidence of a fundamental change in industrial structure as Ireland perceptibly shifts from a developing to a developed economy.

"New technologies and new applications of existing technology are presenting novel areas of opportunity in sectors where Ireland has a strong research base. The commercialisation of technology from this base is a key priority so that growth-oriented companies will emerge in these cutting edge sectors. Some 20% of the start-up companies supported by Enterprise Ireland in the last 12 months are a direct result of interaction and funding of projects with the third level sector."

Welcoming the Ministers' announcement Frank Ryan, Chief Executive Officer of Enterprise Ireland said: "We have companies represented here today from leading edge sectors such as photonics, biotechnology, medical devices and functional foods.

"There is also a large group of new Information and Communication Technology companies - a high tech sector where indigenous industry has now built a traditional strength. All these companies, and the entrepreneurs leading them, signal a new wave of indigenous Irish industry."

However, Mr Ryan warned that in order to advance this momentum, it was important that the knowledge emanating from third level colleges was commercialised in order to create in greater numbers, new, ambitious and globally competitive companies.

(MB)