Net Zero UK podcast – The UK water sector

Net Zero UK podcast – The UK water sector – David Riley, Anglian Water

In Enterprise Ireland’s ‘Net Zero UK’ podcast series, we discuss how the UK plans to transition to a net zero economy and the impact this will have on SMEs.

In the first episode, David Riley, Head of Carbon Neutrality at Anglian Water, speaks about Anglian Water’s journey to net zero, the UK water sector’s net zero ambitions and the role that the supply chain has to play as the sector works to reduce its emissions.

 

High-tech construction opportunities for Irish firms in France and Germany

 

Summary

  • The expertise of Irish high-tech construction companies is well-known in France and Germany, with many home-grown businesses active in the markets
  • There are opportunities for Irish firms to get involved in French and German construction projects, particularly data centre design and building
  • Enterprise Ireland is supporting clients that wish to attend the Data Centre World events in Frankfurt during May 2022 and Paris during November 2022

 

 

As global events impacted on industry across every sector, technology, and our reliance on it has never been more important, with businesses keen to learn about advances in digital solutions and data collection.

For instance, this was reflected at a range of Data Centre World events across Europe which garnered a huge amount of interest from companies around Ireland.

The largest gathering of data experts in France took place in Paris Porte de Versailles on 24 November 2021 and was attended by almost 1,700 industry experts, with 59% of attendees looking to invest more in associated products and solutions.

 

The French market

According to Alix Derigny, Enterprise Ireland Market Advisor – Construction & Sustainable Build in France, more than half of the attendees, including many Irish clients, were from organisations whose primary business is data centre design and build.

“Although some had to cancel due to the pandemic, a number of Enterprise Ireland clients visited, including Mercury Engineering, who exhibited there for the second time and other client companies like Moy Materials and Cubis Systems,” she says. “It was a very busy tradeshow, with great networking and fruitful meetings with large data centre projects managers who were interested in the solutions offered by Irish companies.”

“Sustainability is a major issue for the high-tech construction sector and, with a commitment to be climate neutral by 2030, Irish innovation in this area was of particular interest.”

According to a study by the consultancy Arcadis, France now ranks fifth in Europe in terms of attractiveness for setting up data centres. Interxion has submitted plans in Les Ulis for a 130 MW campus, DATA4 is looking to construct a 100 MW campus expansion, and CloudHQ has recently submitted plans for a two-building hyperscale build in Lisses, for a total of nearly 400 possible MW coming online over the next decade.

 

Success for Irish companies in France

Derigny, whose role involves supporting Irish capabilities across the construction industry in France, says there is plenty of Irish success in the region and many opportunities up for grabs.

“2020 and 2021 have been synonymous with great success stories for Irish companies in France,” she says, “There are several Enterprise Ireland clients active in the French market including Ethos Engineering, E&I Engineering, Anord Mardix, LPI Group, Enersol, Fireblock, King Environmental, CET Connect and Evercam.

 

Trends in the French high-tech construction sector

“There are two major trends in the French construction market which present opportunities to Irish companies: the roll-out of the largest transport project in Europe, the ‘Grand Paris Express’ (2015-2030), and a move towards sustainability through certifications, CO2 reduction targets and market-led initiatives in ‘green building’.

Long considered as a potential hub for hyperscale construction, Paris could potentially more than double in size as a data centre area. Existing investment is heavily centered in its capital, with Paris accounting for over 70% of the country’s current data center footprint. Equinix, Interxion, Orange, Mipih, Colt DCS, Digital Realty and Atos are the prominent investors in the market.

 

The German market

France isn’t the only option for Irish firms in this space. Tim Flache, Enterprise Ireland Market Advisor – Construction in Germany and Austria, says there is also plenty of opportunity for Irish high-tech construction companies in that market.

“After the US, Germany is the second largest data centre market worldwide,” he says.

“The main data centre hub in Germany is Frankfurt, and with the DE-CIX the city has the internet exchange with the most data throughput worldwide and it has not reached its peak yet, with 230 MW under construction and a potential of another 500 MW – so there will be plenty of business over the coming years.

Equinix alone announced in 2021 its intention to build five new data centres and invest $1.14 billion USD in Frankfurt over the next years. Other locations in Germany like Berlin (37 MW under construction) and Munich (12 MW under construction) also present opportunities.

 

Success for Irish companies in Germany

There are many success stories already in the region with Irish contractors, subcontractors, and suppliers active in the German data centre market. Some of these include well-known Irish companies likes Mercury, Winthrop, and Collen.

“These companies deliver large scale co-location data centre projects all over Europe and have been active in Germany for several years. Smaller subcontractors and suppliers are also active in the German market and are winning projects.”

 

Trends in the German high-tech construction sector

Flache, who is based in Dusseldorf, says the biggest topic at Data Centre World is sustainability.

“As in many other countries, the data centre industry in Germany is under pressure to become more sustainable and climate friendly,” he says.

“With the Climate Neutral Data Centre Pact, the industry committed, on a European level, to a more sustainable future for data centres and to become climate neutral by 2030.”

“This ambitious goal also impacts the design and construction of data centres, which is where Irish capabilities lie.”

Beyond data centre projects, the high-tech construction market in Germany has more to offer. Over the last years, several battery manufacturing facilities have been announced and large semiconductor manufacturers are looking for suitable sites in Germany. The main pull factor for these projects is the German automotive industry.

 

Differences between the French and German markets

While the European single market makes both Germany and France attractive target markets for Irish companies, there are some differences clients should be aware of when it comes to labour law, taxation, and certification.

“Companies beginning operations in France must ensure all contracts adhere to French law, for legal and commercial reasons”, says Alix Derigny.

“France is among the easiest countries to set up a business. The guichet-entreprises.fr service encourages business creation in France by enabling anyone to complete the formalities necessary to create their activity in one place online. Only a few days are required.

“With regard to tax structures: corporate tax rates in France are gradually reducing. In 2021, the standard corporate income tax rate is 26.5%, a figure which will fall to 25% in 2022. Corporations with profits of more than €500,000 must pay a rate of 27.5%. A reduced rate of 15% is also available to small companies on the first €38,120 of taxable profits.”

Tim Flache says the federal system in Germany influences certification and safety standards in the construction industry.

“Fire safety regulations, for instance, can differ between the different states (Bundeslaender),” he says. “Companies should be aware of these differences, even within the German market. Also, when it comes to sending staff to Germany, certain time limitations and country specific labour agreements have to be considered.”

 

Business culture

The market experts say Irish businesses looking to expand in Europe should be aware of both the opportunities and requirements.

“Irish companies may face challenges in the French market because of the time and patience needed to manage lengthy sales cycles and due diligence processes. However, if approached correctly, France can be a very significant and lucrative market for innovative, leading-edge Irish companies.” says Derigny.

“A partnership agreement with a local organisation may act as a way of gaining foothold in the market or building sales opportunities in sectors that might be difficult to penetrate as a new entrant.”

 

The Irish Advantage in high-tech construction

Tim Flache agrees and says there is plenty of help on offer from Enterprise Ireland.

“The unique experience and know-how of the Irish high-tech construction sector is well known in the German data centre sector, which is a great foundation for every Irish company active in this field.”

“However, Germany is a mature market, so, for many of our clients, a proven route to market is the existing relationship to Irish contractors, who are already active in Germany. This can be helpful to win an initial project and build a track record.”

“I am more than happy to help further clients with their business in Germany. Enterprise Ireland clients can either get in touch with me directly or through their Development Advisor.”

 

Want to find out more about high-tech construction opportunities in France or Germany? Contact Alix Derigny or Tim Flache respectively.

 

In 2022, Data Centre World will be back in Frankfurt (11 – 12 May) and Paris (16 – 17 November). Enterprise Ireland are supporting clients at this event. If you are interested in attending, or learning more about our plans, get in touch with Alix or Tim.

Healthcare digitalisation

Eurozone Recovery, Irish Opportunity: New EU funding and national initiatives drive healthcare digitalisation

Summary

  • NextGenerationEU represents an opportunity for Irish companies to break into new markets or scale their presence in existing markets
  • EU member states are seeking to digitalise their healthcare systems as rapidly as possible, with hundreds of projects set to kick off over the next couple of years
  • The Enterprise Ireland Eurozone team can help you find the right healthcare digitalisation projects to target
  • Click or scroll down for more information about the healthcare digitalisation market in:

 

Estimated article reading time: 12 minutes

New EU funding

Across Europe, EU member states are seeking to digitalise their healthcare systems as rapidly as possible over the next three years. This is not only spurred by the pandemic, but also by an extraordinary increase in funding under the €750 billion NextGenerationEU plan, which seeks to build a more resilient Europe.

Two key goals of this plan are to make Europe digital and to make it healthy, with the development of digital healthcare an engine driving both of those. France, for example, is dedicating €2 billion to digital health alone in its national recovery and resilience plan.

“This unprecedented public funding across the EU represents an extraordinary opportunity for Irish businesses,” says Anne Lanigan, regional director, Eurozone at Enterprise Ireland. “Digitalising healthcare is now a core focus across the region, with hundreds of projects set to kick off over the next couple of years.”

Enabling 21st century healthcare

Within the digital goal, the EU wants to see artificial intelligence (AI) being used to improve healthcare and for public services to become digital where possible, taking advantage of 5G and EU-wide ultra-fast broadband.

The EU is also keen for member states to modernise their health systems with better access to new technology and medical supplies, and to invest more in research and innovation to develop vaccines and treatments.

Expanding digital health exports

With significant tranches of funding dedicated to both of these goals in individual member state recovery and resilience plans, this clearly presents a huge opportunity for Irish companies who produce or develop digital health products and services. That’s true whether they want to start exporting or diversify their export markets.

“The opportunities can differ from market to market and there are challenges to overcome,” says Lanigan, “but the message is clear from our offices around the region – strong Irish healthcare players with disruptive, niche or market-leading products, services or components can thrive while taking advantage of NextGenerationEU-funded opportunities.”

Given the need to pursue a market diversification strategy post-Brexit, she adds that it makes sense for companies that want to export or to expand their export activities to look to EU markets and try to take advantage of this huge increase in funded projects.

Priority areas of funding

Telemedicine

Everywhere in Europe, the pandemic has seen a huge surge in telemedicine, remote care and  remote monitoring, as both citizens seek to protect themselves and healthcare providers look to maximise resources. This sector is expanding rapidly, meaning that opportunities abound for businesses keen to export.

Optimising data and processes

Across the region, governments are also seeking to optimise processes in healthcare, making the most of software and apps, and aiming for a high level of interoperability and better co-ordination between all the different strands of healthcare systems.

They want to make better use of data, with most countries seeking to introduce or improve digital health profiles, which offer a single source of truth to each citizen and all their healthcare providers.

Other priorities

In most markets, both preventative and personalised medicine, including the use of AI in medicine, are also beginning to boom. As ever, any innovation in medical devices and device components is also going to be of interest to European customers, especially in Germany and Italy.

Innovation in medical imaging is also highly sought after, particularly in France, where it is a core focus. Medical areas in particular focus include: cardiac health; diabetes; oncology; and respiratory diseases.

In some less mature markets, such as Italy, there are also opportunities for companies that can provide innovative solutions around connectivity for healthcare locations and digital skills across the health and medical workforce.

Understanding the challenges

National healthcare systems are never straightforward, and the level and nature of the complexity involved varies from market to market. Most have both public and private healthcare systems running in parallel, although the public/private split varies significantly.

In some countries, such as Germany and Spain, private hospital chains and large insurance companies that offer branded clinics and digital products are significant actors.

While the increase in EU funding is primarily focused on public healthcare, it is worth bearing in mind that a private healthcare company can often make faster decisions and be less hamstrung by legacy and regulatory processes.

Where healthcare is concerned, localisation is important in every market, even in those with a high degree of fluency in English.

The value of local partnership

Those seeking to sell into the public healthcare system in any EU market typically need to work with a local systems integrator, who is used to navigating the complexity of the national system and national tender processes.

“Whether your company is focusing on securing public or private customers, you will need a local partner who understands the healthcare system and you may need a local office or representative,” says Lanigan.

“Part of Enterprise Ireland’s remit is to make introductions locally and to enable Irish companies set up the partnerships they need to succeed. Talk to us and we can help you.”

Digital healthcare: The Irish Advantage

While any Irish company operating in the digital healthcare space needs to offer a standout product or service to gain traction in export markets, the good news is that Irish firms are typically keeping pace with local competitors and can garner market share fast when their offering has the edge over those developed in-market.

Market snapshots

Belgium

Digitalisation of the healthcare system is a huge priority in Belgium, but language and regulatory complexity pose a challenge to exporters.

Overview

  • €5.9 billion national recovery and resilience plan
    • 27% allocated to digital initiatives

Opportunities

€40m digital healthcare funding allocated across:

  • Teleconsulting
  • E-prescribing platforms
  • Making existing eHealth applications more user-friendly

Medical priority areas:

  • Cardiac health
  • Diabetes
  • Oncology
  • Respiratory diseases

Belgian healthcare system

  • This is a fragmented market, subject to federal and regional oversight, and companies need to be ready to operate in three languages
  • Digital health products and services must be approved for reimbursement or are unlikely to be prescribed to patients

Digitalising Belgian healthcare

  • Belgium’s national recovery and resilience plan sets a key goal of making the national healthcare system more resilient, through modernisation and digitalisation
  • Its eHealth Roadmap sets out how that will happen across government, industry, service providers and patients
  • A planned Health Data Authority will make healthcare data available for research and product development

Relative digital maturity

  • Broadly speaking, the Belgian population has good digital skills but it lags behind the neighbouring Netherlands, and is also further behind in digital transformation

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France

Determined to lead the region in digital healthcare, France has introduced numerous eHealth initiatives, backed by substantial funding.

Overview

  • EU financing €40 billion of the overall €100 billion France Relance recovery plan
    • €7 billion going to health, with €2 billion in public and private funding specifically allocated to digital health initiatives

Opportunities

  • Digital prevention
  • Medical devices based on artificial intelligence
  • Innovative remote monitoring solutions
  • Imaging solutions

Digital health initiatives and innovation

  • As part of France’s intense drive to lead in digital health, it has introduced new agencies for digital transformation of health, particularly the Agence du numérique en santé (ANS), along with a national health ID and a national eHealth platform for patients & healthcare professionals
  • It is also seeking to fast-track innovation in health products and medical devices, and has recently launched a national portal for eHealth innovation
  • A new agency, the Agence de l’innovation en santé (AIS) or Agency for Healthcare Innovation aims to simplify and unify the ecosystem, to make it easier for scientists, healthcare professionals, industry and investors to collaborate
  • Reimbursement is a huge issue in France – if your digital health product or service is not on the reimbursement list, it’s extremely difficult to gain traction

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Germany

With an approvals fast track in place, Germany is committed to digital health but the competitive local scene is hard to crack.

Overview

  • €25.6 billion in grants for recovery and resilience projects
    • €3 billion to digitalise hospitals
    • €814 million to modernise public healthcare offices, with vaccine development also a key focus

Opportunities

  • Sub-supply in medical devices (supplying device components), as Germany seeks to become a medical device hub
  • Optimising administration and operational efficiency to free up the time of medical staff to focus on clinical issues

Germany’s healthcare system

  • People in Germany are generally insured by one of more than 100 public health insurers, with many also choosing to opt for private insurance
  • Large hospital chains such as Helios are key players
  • As elsewhere, reimbursement is crucial and products and services must be included on the Hilfsmittelliste – bear in mind the approvals process can be complicated

Privacy concerns

  • While the same GDPR principles apply in Germany as anywhere else in Europe, people there are particularly concerned about data privacy and need reassurance around any potential sharing of their data

Relative digital maturity

  • Germany is advanced in digital terms
  • Wearables are extremely popular for health monitoring and there is a reimbursement fast track for what are known as DiGA (Digitale Gesundheitsanwendungen or digital health applications). International companies are encouraged to seek DiGA approvals
  • That said, given Germany’s size and how advanced the local scene is, those wishing to enter the market need to have an exceptional niche product and be extremely clear on its USP

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Italy

While it has lagged on the digital front, Italy is committed to modernising its healthcare system and is open to external innovation.

Overview

€191.6 billion in grants and loans for recovery and resilience

  • €15.6 billion to modernise and digitalise the Servizio Sanitario Nazionale (SSN), the public health system
    • €7 billion to develop proximity networks, infrastructures and telemedicine for local care
    • €8.63 billion for research, innovation and digitalisation

Digital connectivity is also a priority, with 12,279 healthcare facilities slated to be provided with 1GBPS connectivity by 2026

Relative digital maturity

  • Italy continues to have lower digital literacy and lower investment in digital innovation than elsewhere
  • Digital skills among healthcare professionals are markedly low and only 38% of population knows about electronic health records
  • The recovery and resilience plan seeks to address this, with a core focus on modernising the healthcare system and building the digital skills of its workforce

Focus on senior care

  • With an aging population, Italy sees a significant need for digital health solutions that can support elder care
  • Large insurance companies such as Generali and Reale Mutua are already developing senior living complexes designed to incorporate digital healthcare

Local healthcare system

  • Italy is a fragmented market with considerable decentralised administration in healthcare and substantial regional differences in terms of digital maturity and healthcare ecosystems
  • Enterprise Ireland typically recommends that Irish companies enter the market by focusing on a single area in the north of the country, such as Milan
  • Across the board, public sector decision-making tends to be slower than in the private sector

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Netherlands

The Netherlands has not yet submitted a national recovery and resilience plan – the only EU member state not to do so.

With one of the most advanced healthcare systems in the world, the Netherlands has a strong focus on digital health innovation.

Medical priority areas

  • Cardiac health
  • Diabetes
  • Oncology
  • Respiratory diseases

Nature of healthcare system

  • Both individual and public sector spending on healthcare is much higher than the EU average and the Dutch spend the most of all EU countries on long-term care
  • All residents are mandated to buy insurance from private insurers as part of a government scheme

Relative digital maturity

  • The Netherlands is one of the most advanced countries in the world in terms of both digital skills, and public and private digital transformation
  • It has many advanced solutions already in place, which can be a barrier to entry for international companies

Support for digital health

  • Digital healthcare is a huge focus, with an eHealth at home incentive scheme in place and more flexible rules introduced around reimbursement for digital health apps and services
  • The Dutch government has built an extensive Care for Innovation online portal for eHealth innovators
  • Note there is already a strong collaborative ecosystem in the Netherlands between research institutes, healthcare institutes/professionals, organisations and public bodies
  • The government is also organising a countrywide Smart Health Relay event to educate healthcare providers on innovation in healthcare solutions from Jan 31 to Feb 25 2022

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Spain

While Spain is a fragmented market due to strong regional government, opportunity abounds as digital healthcare is less advanced than elsewhere.

Overview

  • €69.5 billion national recovery and resilience plan
    • 17% going to science, innovation and modernising and strengthening the national healthcare system – together one of 10 priority policies for NextGenEU funding in Spain

Priority investment areas

  • Advanced therapies for diabetes, neurodegenerative diseases, ALS and other conditions
  • Personalised precision medicine, incorporating genomic data
  • National Digital Health System with integrated database
  • Promoting primary healthcare through digital transformation

Understanding PERTE

  • Within the overall Spanish plan is PERTE (Proyectos Estratégicos para la Recuperación y Transformación Económica or strategic projects for economic recovery and transformation) to which €1.469 billion in public/private funds is being devoted until the end of 2023)
  • While Spain is the second largest recipient of funds in the EU, not many projects have been properly specced out and made available for tender yet

A fragmented market

  • With 17 autonomous communities and five official languages, Spain is not a market where a one-size-fits-all approach works
  • In fact, 55% of the national recovery and resilience funding will be managed by the Spanish state, with 45% being administered by regional authorities
  • Irish companies should begin by seeking a foothold in one area, such as Madrid, before trying to expand across the country. Note many regions have their own systems integrators
  • While targeting an often-fragmented public healthcare system can be challenging, recent reforms to speed up public sector contracting go some way to mitigating that

Spanish healthcare system

  • Almost everyone in Spain is covered by the national health system, while many also have private health insurance
  • Insurance companies such as Sanitas are particularly active in areas such as telemedicine
  • In 2019, health spending per capita in Spain was 15% lower than the EU average, while out-of-pocket payments for prescriptions and medical devices were much higher than average

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Minister Robert Troy in the Nordics attending SLUSH

The Nordics: Opportunities abound for ambitious Irish exporters

 

As an island nation, the export economy is essential for the health and growth of Irish companies. Our reputation for innovation and entrepreneurship has served us well in that regard, with Irish companies finding huge success in every corner of the world. Key markets such as the UK, the US, France and Germany remain hugely important, but ambitious Irish exporters are exploring other countries that are actively looking for the products and solutions produced by Irish entrepreneurs – and finding a whole new world of opportunity. A region that is growing rapidly in importance for Irish business is the Nordics, an area made up of Sweden, Denmark, Norway, Finland, and Iceland.

Currently, over 450 Enterprise Ireland supported companies export to the Nordics, with exports reaching a remarkable €1.16 billion in 2020. It’s easy to see why this region is so attractive, home to 26 million inhabitants, the Nordic region is the 11th largest economy in the world. 

 

The Nordic market

Irish companies have a strong track record and reputation here, says Eoghan O’Connor, Market Executive, ICT & Start Ups, Enterprise Ireland. “The Nordics are known for being progressive, stable, and open to new technology.”

“As a region that is culturally and geographically close to Ireland, Nordic countries should be considered our home markets and natural partners in terms of trade and business cooperation. English is widely spoken and like Ireland, a huge emphasis is placed on innovation.”

Eoghan O Connor Enterprise Ireland

This innovation can be seen in the number of household names from the Nordics. For instance, within the Nordic ecosystem are global companies like H&MNokiaVolvo, Maersk, and Ericsson. In addition, outside of Silicon Valley, the Nordics have generated the highest number of unicorns per capita globally, including companies like Spotify, Mojang (creators of Minecraft), Oatly, and Klarna

“The success of these companies is down to the ecosystem, which is a fertile ground for innovation and entrepreneurship,” explains Eoghan. “Their comprehensive welfare state provides citizens with free education, healthcare, and social security and their public sector provides a strong framework for the ecosystem with opportunities for funding and other supports. There is also a dedicated focus on R&D and in general they are a population of early adopters of new technology.”

“This makes the Nordic region a great starting point for Irish companies looking to establish a foothold in the European markets and scale their businesses internationally from here.”

 

Success for Irish companies in the Nordics

Already there are several very successful Irish companies in the region, all of which offer clever solutions in several different areas. “These include WAZP, an Enterprise Ireland High Potential Start-Up (HPSU) that specialises in the production of 3D printing materials, which has forged a partnership with IKEA, one of the most globally recognised brands,” says Eoghan.

“In addition, iCabbi, a Dublin cloud-based taxi firm, have a contract with Finnish taxi company Meneva, which has grown its fleet from 100 cars to over 1,500 since joining iCabbi over two years ago.”

Minister Robert Troy in front of a Meneva taxi

A key term in today’s global business world is sustainability, a significant area of growth as we race towards ambitious goals of net zero emissions. The Nordic countries have been long considered leaders in this field, especially in the area of environmentally friendly transport options, such as public scooter schemes.

“Irish companies are playing their part here also,” says Eoghan. “For instance, Luna Technologies, which develops AI tech for the e-scooter market, has partnered with Swedish scooter giant Voi, while Zeus has rolled out scooters in Oslo, Halmstad, and Karlstad.”

 

Springboard to success

These Irish companies have found huge success in the region – but there’s plenty more opportunity for ambitious Irish exporters who will find an open and welcoming market for their innovative products and solutions. To demonstrate the Irish Advantage to the Nordics, Enterprise Ireland showcased Irish innovation at SLUSH, a global-leading event for start-ups and the largest of its kind in the Nordics, which took place in December 2021 in Helsinki.

The event is considered a hotbed of start-up talent; the sold-out 2021 event attracted 8,000 attendees, over 3,200 start-up founders, and 1,500 investors, all of whom travelled from every part of the world. Irish attendees included seven companies, some already successful in the region along with some newcomers that have compelling offerings for this market.

 

 

These included Boundless (B2B SaaS technology), MyPatientSpace (life sciences), Educatly (higher education), PlantQuest (oil & gas and data centres), Zeus (transport and mobility), Social Talent (learning and development), and Tito (events & ticketing).  

The event acted as a springboard for Irish companies looking to expand their offerings in this prosperous region, keen to avail of the positives of trading in an area that values innovation, flexible working relationships and timely solutions to the issues that really matter in today’s world – everything that Irish enterprise is revered for.

 

If you’re interested in exporting to the Nordics, contact the Enterprise Ireland Nordics team.

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The Level Project: Promoting gender balance in leadership teams

The Level Project: Promoting gender balance in leadership roles

 

Gender balance, diversity and inclusion is something we strive to promote as much as possible as a society, but in the world of business, having gender balance in a leadership team has been proved to have a very real and positive impact on a company.

As a result, gender balance in management is something that Enterprise Ireland is widely advocating and supporting through a major new initiative, The Level Project.

 

What is The Level Project?

Sheelagh Daly, Enterprise IrelandThe Level Project has its origins in Enterprise Ireland’s Action Plan for Women in Business, which recognised that increasing the number of women in middle and senior management, as well as on boards, leads to more successful, sustainable and profitable businesses. “The Plan saw that there are considerable economic benefits that lie, untapped, in women in their roles both as customers and as talent,” says Sheelagh Daly, Entrepreneurship Manager at Enterprise Ireland. “In essence, by achieving gender balance, a company is tapping into 100% of the talent pool and 100% of the market.”

The findings of the report is reflected in numerous studies that show that gender-balanced leadership teams can help businesses grow on a global scale. But despite all these studies and their clear conclusions, Irish companies are a long way from achieving gender balance in senior teams.

There are numerous reasons why, but in the interests of helping companies progress and work towards their own individual gender-balance goals, The Level Project is a practical initiative that includes an online Action Planning Toolkit. Free to all companies, this toolkit helps companies assess their current situation and put in place real actions to enhance gender balance in senior teams.

“Achieving gender balance is certainly harder in some industries than others, but simply taking some steps to enhance the gender balance of your leadership team can have tangible benefits for your business,” explains Sheelagh.

“For example, visibly championing gender balance can have a positive effect on attracting and retaining talent. Gender balance in leadership also leads to increased creativity and innovation, thanks to diversity in thought and mindset, as well as a greater understanding of your customer base.”

 

Striving for better

These advantages are already being experienced by four early champions of The Level Project.

VRAI is a fast-growing tech firm in the field of data-driven VR simulation training, and believes that a diversity of mindset is essential to help mitigate the complexity of what they are trying to achieve.

Similarly, Spearline, a leader in telecommunication technology, credits a better understanding of their diverse customer base to diversity within their senior teams.

For CLS, Ireland’s largest contract laboratory, having gender balance throughout the company, especially in leadership teams, creates harmony in the workplace, which can only lead to success.

Vivian Farrell, CEO Modular AutomationHowever, achieving gender balance is very much a long-term plan for a lot of companies, especially those in industries that are traditionally male dominated. For example, Shannon-based Modular Automation has recognised that gender balance is hard to reach if girls are not seeing engineering as a viable career choice in school – a key part of their strategy is therefore demonstrating the advantages of studying engineering to girls at Junior Cert stage and lower.

“All four of these companies have implemented very real strategies to enhance gender balance in senior leadership,” says Sheelagh. “While they recognise that this is a long-term project, the advantages of such strategies are already being experienced.”

 

Introducing the Toolkit

A key part of The Level Project is the Action Planning Toolkit, which is suitable for all companies, big and small, whether they are just starting out on their gender balance journey or want to improve and target their efforts even further. The Toolkit consists of six themes (Strategy, Attract, Retain, Develop, Engage, Measure), each of which is divided into two levels according to how advanced a company is. “We recommend that every company should start with the Strategy theme,” explains Sheelagh.

A series of questions is included within each theme; answering ‘No’ to a question presents the user with suggested actions to include in their plan. Each theme also includes links to helpful resources such as guides, templates and expert insights. Once finished, an editable Action Plan for the company can be downloaded, which includes all the actions chosen  as well as space for notes.

The online toolkit can be used free of charge by ALL companies.

Enterprise Ireland client companies can also apply for several supports to help develop and implement their gender balance plan. Details of these supports can be found here or by talking to your Development Advisor.

 

More information on The Level Project, including access to the Action Planning Toolkit and details of financial aids available, can be found here

Three EU flags in front of a Eurozone recovery banner on the Berlaymont building of the European Commission

Eurozone Recovery, Irish Opportunity: How Irish companies can benefit from the EU’s recovery plan

 

Key takeouts

  • NextGenerationEU funding represents an opportunity for Irish companies to break into new markets or scale their presence in existing markets
  • From digital health care and green technology to smart cities and cybersecurity, there are hundreds of Eurozone recovery projects that will be fully funded by the EU
  • The Enterprise Ireland Eurozone team can help you find the right markets and projects to target

 


 

What is NextGenerationEU?

We are living in extraordinary times, but it’s not all bad news for Irish business. Over the next couple of years, those who can or who are keen to export can take advantage of a significant opportunity, fuelled by the NextGenerationEU funding package put in place by the European Commission. At €750 billion*, it’s the largest ever stimulus package in Europe and some is directly aimed at SMEs.

“The objective is twofold,” explains Marco Lopriore, at the European Institute of Public Administration (EIPA). “It is recovery, to help the European economy recover from the past year, but it is also resilience.

“This is a push for a radical transformation of consumption and production to prepare European economies to withstand future crises in a better way. We’re speaking in Brussels about a paradigm shift. This is basically changing the way we function completely.”

Within the overall project, the EU level of investment is supplemented by the agendas and priorities of each national government.

*The current value of the funding is €806.9 billion. It was €750 billion when agreed in 2018.

 


 

What does the Eurozone recovery plan mean for Irish SMEs?

This Recovery and Resilience Facility (RRF) means a wave of funding unrolling across all 27 EU member states to support investment in public services and infrastructure, to make Europe greener, more digital and more resilient.

As Ireland seeks to build a deeper trade relationship with Europe, that funding represents an excellent opportunity for Irish companies to break into new markets or to deepen and scale their presence in existing markets.

Across everything from digital health care and green technology to smart cities and cybersecurity, there are hundreds of Eurozone recovery projects to complete across the EU over the next few years. All of them will be fully funded.

“SMEs are not always directly affected by macroeconomics,” says Anne Lanigan, regional director, Eurozone at Enterprise Ireland, “but when that volume of money is going into it, especially to drive the green and digital agenda, it has to have an impact on what is happening at a business level.”

 


 

Core focus on green and digital

European Commission bannerThe overall fund is focused on six pillars, with the green transition and digital transformation being top of the list. The European Commission has specified that each country must assign at least 37% and 20% of their spending to those pillars, respectively.

“Several member states have gone beyond those minimum thresholds,” says Lopriore. “Luxembourg, for example, is putting 60% to green, while Germany is putting 50% to digital.

The green transition covers everything from clean tech, renewable energy and energy efficiency, sustainable transport, improving water quality to creating greener cities and making farming more eco-friendly.

Digital projects to get funding span 5G, digitalisation of public service, cloud computing, smart cities, artificial intelligence, blockchain and more, including projects focused on reskilling and upskilling to improve digital literacy.

 


 

Leaning into Irish tech expertise

Areas in which many Irish firms specialise, such as cybersecurity and the digitalisation of health are a significant focus in many plans, says Lopriore, who wrote extensively on national areas of focus for NextGenerationEU funding in a recent paper.

“In Belgium, for example, the plan is to spend €585m on digitalisation, of which almost €80m is allocated to cybersecurity. Spain wants to reinforce cybersecurity on its rail network, its air traffic control, its central public administration and in the tourism sector.”

When it comes to providing health and medical services online, France will invest €2 billion in the digitalisation of health, while Germany will invest €3.8 billion.

 


 

Breaking into a new European market

The funding offers new momentum to Irish exporters targeting Europe, a trend that was already soaring, says Lanigan.

Anne Lanigan, Patrick Torrekins, Leo Varadkar, Leo Clancy“Since we implemented our Eurozone strategy in 2017, we’ve seen a 33% jump in exports from Ireland to the Eurozone,” she says. “Even in 2020, when some sectors were hit very hard, we still saw a 1.6% growth in exports, which is significant considering economies across Europe shrunk.

For companies that want to export for the first time or to diversify their export markets, Enterprise Ireland can offer support and advice. This includes everything from market research and helping a company to get export-ready to tapping into a wide network of contacts and making the right introductions.

“The easiest model is where a client is looking for a customer and we can introduce them,” says Lanigan. “Exporting often involves a local partner and we introduce companies to the right people– the local influencers, the potential partners and those they could collaborate with, including other Irish companies.

“We work to build clusters that bring companies in the same space together,” she explains. “If there is an opportunity around smart mobility, for example, we can bring companies working in that area together and introduce them to the right people.”

 


 

Finding the right market to target

The markets of interest to individual companies will depend on the nature of the products and services they offer. Those selling into the tourism and hospitality sector, for example, will find more extensive opportunities in Southern Europe, where governments are placing more emphasis on this sector.

Many countries mention renovating buildings to be more energy-efficient and installing more electric vehicle charging situations, but Germany is putting particular emphasis on hydrogen production and AI, for example.

Detailed country-by-country information in English on the plans and priorities of each Member State can be found here.

 


 

How will the Eurozone recovery funding work in practice?

  • While SMEs may believe trying to tender for public contracts is too complex and likely to be choked by red tape, 15% of the NextGenerationEU funding will benefit SMEs – more than half of that in direct business.
  • Furthermore, Enterprise Ireland can advise on the tendering process.
  • In practice, each EU state has its own national Resilience and Recovery Plan (RRP), with all projects in it open to public tender on an online portal.
  • Some of these portals, such as those of France, Italy and Portugal, are already up and running.
  • Every project linked to this Eurozone recovery funding must be completed by 2026.

 


 

Rising to the export challenge

While deciding to expand export operations can seem daunting to some, Lanigan encourages Irish business owners and managers to examine the RRP options open to them. That includes going beyond the UK, even as a first export market.

“Diversifying our export markets has become even more important since Brexit,” she says. “Now, 29% of our clients’ exports go to the UK, but that is down from 45% a decade ago.

A marked improvement in marine links is helping, she adds, as more routes with more capacity mean it is much easier to trade directly with EU customers.

“We have a huge market on our doorstep. After all, we have the biggest free trade agreement in the world, with no customs, no tariffs and no regulatory challenges. And, of course, for 19 countries in the Eurozone, there are no currency costs.”

“Irish companies have a great reputation across Europe, with customers having a really positive view of them. And when you see the Irish products and services selling into Europe – they are top notch and born of incredible innovation – it’s evident why they are well regarded.”

 

If you’re interested in starting to export to the Eurozone or in growing your exports to the Eurozone, get in touch.

Irish Aviation House at Dubai Airshow

How innovative Irish companies are leading the world in aviation

Every industry has been affected by the twin challenges of Covid-19 and Brexit, but it’s fair to say that one of the industries affected the most by the pandemic, in particular, is aviation. Eighteen months of grounded fleets, changing restrictions, lockdowns and reduced capacity took its toll on the industry resulting in redundancies, closures and mass disruption.

But travel remains a necessity in today’s business world, and thankfully things are finally looking up for global aviation. Mass vaccination programmes and the easing of restrictions mean that people are once again travelling abroad, and there has even been reports of pent-up demand in both business and leisure travel. While virtual platforms kept the business world ticking over during the pandemic, there appears to be a general realisation that these could never replace the power of face-to-face meetings – thus resulting in a big increase in air transit activity once restrictions were eased.

But while some semblance of normality has returned, it’s fair to say that the pandemic has resulted in huge changes for the industry.

“Companies and stakeholders are now looking for innovative solutions to substantial challenges in many areas,” says Alan O’Mahony, International Market Advisor in the Middle East and North Africa.

“With a strong and growing ecosystem that covers virtually every area of the sector, Irish companies can now offer a compelling package of solutions for every challenge faced by global aviation companies.”

 

A proud tradition

It’s no surprise that Ireland is leading the way once more as aviation enters a new age. Our long and proud history in aviation dates way back to when pioneering aviators Alcock and Brown landed in Ireland after the world’s first transatlantic flight. We also introduced the concept of duty free shopping to the world at Shannon Airport in the 1940s. Most significantly, Ireland’s Guinness Peat Aviation launched the concept of aircraft leasing in the 1970s – today Ireland commands around 60% of the global leasing market, with more than 50 aircraft leasing companies with a presence in Ireland.

 In more recent years, the concept of low-cost flying was pioneered by Ryanair in the 1990s, turning the airline into Europe’s largest by passenger numbers. We have also produced some of the most important people in global aviation today, including Alan Joyce, Chief Executive of Qantas Airways; Willie Walsh, Director General of IATA; and Michael O’Leary, CEO of Ryanair.

 Today, Ireland is home to a thriving ecosystem of 250 aviation and aerospace companies that spans all aspects of the sector, from maintenance, repair and overhaul (MRO) to simulation training.

“These companies have proved their resilience and flexibility by producing solutions to some of the most serious and urgent issues faced by the global aviation industry today,” explains Alan. “These include travel tech solutions, such as the world’s first widely adopted mobile health passport, VeriFLY from Daon; technical textiles, such as anti-microbial carpets from aircraft interior experts Botany Weaving; and training and development, such as simulator training for pilots and crews from Simtech Aviation. In addition, Irish MRO operators such as Atlantic Aviation Group, Dublin Aerospace and Eirtech Aviation Services have made acquisitions of facilities in Ireland and the UK to increase their capacity for international business and take advantage of the impending sharp rebound in air travel.”

 

Irish Aviation House at the Dubai Airshow 2021

To demonstrate our strong offerings in aviation’s new dawn, Enterprise Ireland launched the Irish Aviation House at the Dubai Airshow in November, the only international airshow to be held in 2021. This world-class show is known for facilitating thousands of face-to-face meetings, commercial deals and new partnerships. For example, the 2019 Dubai Airshow achieved an order book worth a staggering $54.5 billion.

The Irish Aviation House was a new collaborative concept that brought together the best of Ireland’s aviation and aerospace ecosystem under the one roof. It was designed to showcase the strength of Irish aviation stakeholders in every area of the industry, such as MRO, aircraft interiors, training & recruitment, technology, aerospace manufacturing, drones and, of course, aircraft leasing.

“Our aim was to build stronger ties between Irish aviation and aerospace companies and global aircraft lessors headquartered in Ireland,” says Alan. “We have an incredibly strong complementary offering, which along with our traditional strengths, makes up a truly compelling offer for international airlines and aviation stakeholders. Even before the show, the Irish Aviation House attracted a lot of attention from leading airlines and companies in the Middle East and worldwide.”

The Irish Aviation House proved to be the perfect showcase for innovative Irish companies in the world of aviation; a showcase that was strengthened even further by Enterprise Ireland’s hosting of a symposium event in conjunction with IATA at the Dubai Airshow, which was attended by Tánaiste and Minister for Enterprise, Trade and Employment, Leo Varadkar. Attendees included CEOs from some of the world’s biggest airlines, including Emirates, Fly Dubai, Egypt Air, Kenya Airways and Kuwait Airways.

Showcasing such innovative talent in the Irish aviation industry in Dubai cements Ireland’s reputation in global aviation – a reputation that we intend to nurture and grow right into 2022.

 

 

Med in Ireland 2021

Med in Ireland: Showcasing Ireland’s strength in the global medtech industry

Med in Ireland 2021

Ireland has long been known as one of the epicentres of the medtech world. Not only has our country been chosen as a base for many of the biggest medtech companies in the world, thanks to our excellent talent base and reputation for timely research and development, but we have also been responsible for producing our own ground-breaking companies, some of which have made a real impact on a global scale.

In fact, Ireland is now one of the top five global medtech hubs and home to up to 350 companies in the sector, including 14 of the world’s top 15 medtech companies. We are also the largest medtech employer per capita in Europe, with 45,000 people employed in the sector. Our medtech industry exports over €13 billion to over 100 countries every year, positioning Ireland as the second-largest exporter of medtech products in Europe.

Over 200 of those medtech companies are Irish, and one in five of those working in the sector are employed directly by Irish-owned medtech companies. The impact of these companies on the economy is significant – in 2020, Enterprise Ireland life sciences clients achieved exports of €1.9 billion.

“Ireland has long been a leader in the medtech world,” says Deirdre Glenn, Director, Life Sciences Sector at Enterprise Ireland.

“Our success is down to a combination of track record and forward thinking and a deep pool of experience and highly trained talent. This is boosted by a fertile ecosystem that integrates industry, research and the clinical community to promote high-quality innovation.”

Never has our strength in medtech been so needed than over the last 18 months, when the world found itself in the grips of the Covid-19 pandemic. Numerous Irish companies reacted quickly to the crisis, pivoting their offerings to create valuable solutions to aspects of the pandemic or ramping up production to supply essential devices to hospitals around the world. In fact, Ireland is currently ranked fifth in the world for Covid-19 related goods, with companies such as, Aerogen, patientMPower and PMD Solutions leading the way in medtech innovation.

 

Med in Ireland

Now, however, we are moving into a post-pandemic world, a world where healthcare needs have changed significantly and medtech innovations are needed more than ever before. And once again, Irish innovators are responding quickly with some great innovations.

“Irish medtech companies proved how agile and flexible they were during the pandemic,” says Deirdre. “Our focus has now turned to the post-Covid world, and how the pandemic has changed healthcare, both in terms of how we access it and in terms of how it is delivered. A lot of eyes are on Irish innovators, some of whom have already come up with exciting solutions.”

Many of these were showcased in Med in Ireland, which took place virtually on 3-4 November 2021. A biennial event, Med in Ireland is a high-profile national showcase for the entire spectrum of the Irish medtech sector, encompassing medical devices, medical sub-supply,  diagnostics, digital health, healthcare providers, clinicians and research professionals. This year, 81 Irish manufacturing and healthcare solution providers took part in the event, meeting with international healthcare buyers in a series of virtual one-to-one meetings arranged by Enterprise Ireland. Ireland’s collaborative supports that drive company innovation were also a key focus of the event, while the Innovation Zone showcased some truly exciting start-ups of the future.

“The focus at this year’s Med in Ireland is very much on the themes shaping the post-pandemic healthcare world,” says Deirdre. “These include industry changes such as the move to preventative care, the role of digitalisation in the shift to healthcare outside of hospital settings, the emergence of technologies that reduce environmental impact and improve competitiveness, and the development of new distribution and inventory management models to supply chain weaknesses.”

These themes were at the forefront of the event from the very start, with a special conference featuring a keynote speech from Lorna Ross, Chief Innovation Officer at VHI Health & Wellbeing, and a panel discussion on the future of global healthcare.

Participants could then enjoy example after example of how Irish innovators are responding the needs of healthcare in the post-Covid world. “We have a number of really impressive client companies producing solutions that are required on a global scale,” says Deirdre. “These include LetsGetChecked, a virtual care company that offers over 30 different at-home tests that act as an alternative to traditional in-person medical visits; Swiftqueue, a company offering a self-service portal that allows patients to manage medical appointments across multiple clinic settings; and Vitalograph, a global leader in respiratory diagnostics and clinical trials that offers remote monitoring of lung function and disorders.”

Once again, Med in Ireland attracted leading healthcare providers from all over the world, all of whom look to Ireland for solutions, with the hope of co-developing and commercialising new medical technologies with Irish innovation at its core. Ireland has clearly played a huge role in shaping global healthcare – and that role looks to be growing even further as we move through this period of recovery.

Visit www.medinireland.ie or watch the conference below.

Creating innovative solutions to new and emerging threats

Cybersecurity solutions that address new and emerging threats

The Covid-19 pandemic saw a rapid shift for many to virtual ways of doing work – and the recognition – finally – that remote and hybrid working is a very viable possibility in many industries. And, that offering flexible ways of working can actually give companies an edge when it comes to attracting talent. Unfortunately, however, with more flexibility comes a very real problem – the increased risk of cybercrime and cyberattacks. And the need for effective cybersecurity solutions is becoming more urgent by the day.

According to a study by McKinsey & Co, only 16% of executives felt that their organisations are well prepared to deal with cyber risk. Plus, the United Nations has warned that cybercrime increased by nearly 600% during the pandemic.

“Globally, there has never been a more challenging time for organisations in relation to cybersecurity,” says Pat O’Grady, Senior Business Advisor and Global Lead for Cybersecurity at Enterprise Ireland. “A higher level of cyber threats and attacks, security challenges linked to remote working, and increasingly sophisticated attacks on personal accounts have all put systems under immense pressure.”

 

Irish cybersecurity solutions

Ireland has long been a leader in technology innovation, with our advances in medtech, agritech, fintech and more in high demand across the globe. So it comes as no surprise that an increasing number of ambitious Irish companies is coming up with some very clever solutions to cybercrime. As an example, Cork-based Velona Systems has developed a solution that protects large call centres in the US against brute force call spam attacks, ghost calling and robocalling, a growing challenge in this sector.

Velona is just an example of our strength in the area, which is highlighted in the Enterprise Ireland Cybersecurity Innovation Series 2021, which this year is titled ‘Creating Innovative Solutions to New and Emerging Threats’. Taking place over six separate events in November and December, covering different world regions, the series features talks by leading cybersecurity experts, pitches by innovative Enterprise Ireland client companies, and opportunities for individual client-buyer meetings.

“All the participating Irish companies have identified the most urgent areas within cybersecurity and come up with intelligent solutions that potentially have a worldwide customer base,” says Pat. “For instance, one of the biggest issues now is the sharp rise in phishing emails. Cyber Risk Aware is an Irish business offering learning platforms that can build training programmes within Microsoft Office 365 to raise staff awareness regarding phishing and teach them how to spot a dangerous email. The company also offers a phishing simulation platform, which can build email templates and schedule simulation campaigns to test the level of awareness within the organisation and to offer additional focused learning for staff when required.”

Like all good responses to security threats, many solutions are based on prevention rather than cure – and with the cost of cyber crime rising sharply as the attacks get more sophisticated, this is sure to be a massive area of growth. “EdgeScan is leading the way in pen testing, or vulnerability scanning,” says Pat. “This includes scanning company IPs or carrying out pen tests on company websites or client portals to find any potential weaknesses – therefore stopping the threat before it happens.”

 

Remote working challenges

With remote and hybrid working looking likely to stay in the long term, many companies are looking for ways to boost their security with staff working on devices away from the office and even out on the road. “Remote working has brought with it many challenges; one issue is providing the same amount of security as in the office,” says Pat. “Web and email filtering identifies new malware sites and can block specific categories of websites, such as gambling sites. Galway-based TitanHQ offers advanced solutions for this issue, currently helping businesses in over 120 countries.”

A big issue for companies is our increasing reliance on mobile phones for work purposes – now a company has to look into protecting these as well as laptops and computers. “Many companies have introduced a controlled ‘Bring Your Own Device’, or BYOD, policy in which company apps are locked down or secured on the device, while others have restricted access to only corporate devices to allow for full control. And yes, there’s an Irish company involved in this area too: CWSI are experts in the field of mobile device management and offer guidance on both policy and the technical aspects of managing devices.”

It’s clear that Irish companies are leading the way in cybersecurity solutions. Many companies are finding it difficult to acquire and retain staff with skills in the areas of compliance, ISO certification, incident response, forensics and investigations – and, as Pat explains, there are several Irish companies in a great position to help. “Irish innovators such as Integrity360, SmartTech 24/7, Kontex and Evros are providing a solution to this issue by providing expert security consultant services. These companies’ Security Operations Centre (SOC service) offers uninterrupted monitoring of their clients‘ IT networks.”

 

Details of the Enterprise Ireland Cybersecurity Innovation Series 2021 can be found here

Global Recovery. Irish Opportunity

International Markets Week 2021: Green agenda and digitalisation key areas for growth  

Global Recovery - Irish Opportunity

It’s been said many times that exports are crucial to Ireland’s recovery in the post-pandemic world – and Enterprise Ireland is committed to ensuring that Irish companies take advantage of the many opportunities around the world to increase their business and bolster our economy as a result.

A crucial event in the Enterprise Ireland year is International Markets Week, and this year, for the second year running, it was held as a virtual event over five busy days in October 2021.

“When Covid hit, we decided that the event was too important to miss, particularly in the context of a global pandemic,” explains Anne Lanigan, Regional Director, Eurozone, at Enterprise Ireland. “This is a time when it’s even more important for our clients to keep their exports going, so we decided to go onto a virtual platform, with our market advisors available for a full week.

“The market advisors are the boots on the floor, the people who can introduce client companies to potential buyers, so it’s a very practical week for people who want to do business.”

This year, the theme of the event was Global Recovery. Irish Opportunity, recognising that the global economy is experiencing significant disruption – but while this disruption brings challenges, there are also significant opportunities.

“Enterprise Ireland client companies enjoyed excellent overall export growth in 2019 of 8%,  with particularly strong growth in the Eurozone and North America of 15% and 16% respectively,” says Anne

 “In 2020, these figures stabilised, which was a very good result in the context of a global pandemic, but now we need to get back to 2019 levels of growth.”

Opportunities for Irish companies lie in many areas, including the green agenda and digitisation. Throughout the world, companies are investing in green and digital strategies and governments are putting stimulus packages in place to drive a recovery based on a green and digital future. This investment represents huge opportunity for innovative Irish companies.

“The current disruption in global supply chains also poses significant opportunity,” says Anne. “The drive by manufacturers in developed economies, in particular, to strengthen the reliability of their supply chains so that they are more easily accessed from a geographic and an administrative perspective, creates the opportunity for Ireland to embed themselves in these new supply chains. Ireland’s location on the edge of Europe puts us in a key position to capitalise on this move towards regionalisation of supply chains.”

 

Finding opportunities

It’s clear from this year’s International Markets Week that Enterprise Ireland client companies have recognised the importance of building a robust strategy to take advantage of these growth opportunities. A total of 710 Enterprise Ireland client companies registered for the event, booking a total of 1,663 meetings with market advisors from across the world.

To get an indication of how companies were faring as the world’s economy recovers from the challenges of Brexit and the Covid-19 pandemic, Enterprise Ireland conducted a survey of the participants ahead of the event. The results were positive: 56% of businesses indicated that they have seen an increase in exports in 2021 compared to 2020, with only 11% reporting a decrease. And, 91% of companies expect sales to increase again in 2022. In terms of trends, the survey revealed that 80% of businesses viewed digitalisation as vital over the next 12 months, while 63% said that advancing their sustainability agenda was a priority.

These results proved accurate throughout the event, which was officially launched by Tánaiste and Minister for Enterprise, Trade and Employment, Leo Varadkar, and Enterprise Ireland CEO Leo Clancy. Lydia Rogers, country manager for Enterprise Ireland in Canada, reported a real hunger in Irish companies to take advantage of the many opportunities out there. “I met many client companies at various stages of their export journey, from those accelerating their international growth and diversifying into new global markets to ambitious start-ups keen to explore the export opportunities in Canada. The week proved that Canada is a very attractive market for Irish companies in many sectors, including cleantech, consumer retail, engineering, life sciences, fintech and BPO, and a large proportion of digital technologies companies.

“In addition, Canada was also identified by many client companies as an entry point and as a lower-cost gateway into the wider North America market.”

And, as predicted, the green agenda and digitalisation opportunities were noted by Lydia as strong trends for Irish companies looking to Canada for growth. “Our team met many companies with innovative digitalisation solutions across travel tech, retail tech, ed tech, digital health, fintech, HR & talent tech, and IoT. There were also many SMEs with innovative solutions in areas including cleantech, mobility, smart energy and environment. Consumer retail was also a significant area of interest – a sector that experienced growth in 2020 despite the challenges of Covid-19. All in all, it was clear from this year’s International Markets Week that Irish companies have recognised Ireland and Canada make great business partners and are ready to reap the rewards from this vibrant and welcoming country.”

 

View the virtual launch event from Enterprise Ireland’s International Markets Week 2021 below:

 

 

 

 

 

A young man in a warehouse using his laptop to research his EORI number

Customs – What is an EORI Number used for?

 

The Economic Operators Registration and Identification (EORI) number allows businesses to import or export with countries outside the European Union. It is a unique reference number recognised by all EU member states and is a requirement on all customs declarations.

First introduced in 2009, the EORI number is a common reference number for interactions with the customs authorities in any EU Member State. All Irish numbers are prefaced with the prefix IE and contain eight characters. It is closely aligned to your VAT number but requires a separate EORI registration with Revenue.

 

Register for your EORI number

To obtain your number, companies can register directly through Revenue. If you are already registered on Revenue Online Service (ROS), you can register within a matter of minutes. Once the registration is complete, the number is active immediately.

If you believe that you already have one, this can be verified by simply checking the EORI number validation service. Insert your VAT number prefixed by “IE” and select validate.

Revenue has support for companies that have questions about their process. Visit Revenue’s website for the relevant contact details.