Investment, financing and tax legislation on innovation and development

In Ireland “Innovation”If you want to get down to this beautiful island and start a start-up with state funding, is that a factor to consider?

The public sector entity that acts as a startup incubator is called Enterprise Ireland. This is not the first time we’ve talked about it in this column, as the actions and results of this government agency are not unusual.

Enterprise Ireland is the world’s first public VC (venture capitalist) and invests millions of euros each year in innovative startups that choose Ireland to carry out their projects.

Ireland has a tax system that favors research and development, and gives the company a 25% tax credit for such investments.

as well as, The system offers more tax breaks for investments in intellectual property with higher taxes than developed. (Patented inventions, software) Decreases to 6.25% (Knowledge Development Box).

Recently The challenge And the response of Ireland

Ireland, or more accurately the Republic of Ireland (which does not include Northern Ireland as part of the United Kingdom), has a population of about 4.7 million.

Brexit radically changed Ireland’s business dynamics, Their first trading partner was always the United Kingdom. Found to be facing Ireland in 2021, an English word, double The challengeAt the same time frame: The Plague and Brexit.

Enterprise Ireland CEO Leo Clancy clearly identifies the challenges and the government agency’s proposal to address them: “Enterprise Ireland supported Irish companies in resisting the impact of the Kovid-19 and adapting to their new business relationship with the UK. For the next few years our goal is to help our customers grow by taking advantage of the opportunities that the recovering global economy can bring to the Irish community.

Employment figures for Ireland for 2021

Beyond words, by 2021 it was registered in Ireland with a population of 4.7 million. Record increase of 20,000 new jobs in the sector of enterprise support companies in Ireland aloneI.e. small and medium companies. The Irish government agency aims to create 45,000 jobs by 2024.

In 2021, Enterprise Ireland invested in 125 new technology startups The goal for the next three years is to increase this number to 450, with 20% more startups with higher innovation potential (HPSU, High potential start-up).

Meanwhile, Employment figures show a 70% increase in new jobs outside Dublin Life Sciences 14% in business services and 12% in digital technology.

Area of ​​the CD Life Sciences No one else Device development, Equipment and technologically advanced and innovative products in the medical and healthcare sector. Exports are worth $ 45 billion a year, and Enterprise Ireland’s investment in startups operating in the region is about $ 10 million a year.