New Frontiers: Turning great ideas into promising businesses

Great ideas are in the Irish DNA, but turning these ideas into viable businesses takes time, ambition, hard work and support.

To help entrepreneurs turn their ideas into promising businesses, Ireland has built up a solid network of supports for early stage start-ups, with a high level of connectivity to ensure that businesses can access the right support at the right time.

Many entrepreneurs begin their business journey at the Local Enterprise Office (LEO), which offers a wide range of experience, skills and services.

Typical supports offered by the LEOs include training and mentoring programmes, access to financial support and microfinance loans, general business advice and help with business planning.  and with 31 LEOs nationwide, entrepreneurs don’t have to travel far to find business support.

The LEOs are also the front door into other support services such as the local authorities, Enterprise Ireland and State agencies, including the Department of Social Protection, Skillnets, Education and Training Boards, Microfinance Ireland, Revenue and Fáilte Ireland.

The beauty of the structure is that it’s inter-connected,” explains Teri Smith, manager at Enterprise Ireland’s High Potential Start-Up (HPSU) division. 

“At the HPSU, we would communicate with the LEOs and other starter programmes like New Frontiers, so a suitable business can very readily come onto our radar if they’re going through those channels, which allows us to transition them at the right time.” 

“From an Enterprise Ireland point of view, a lot of entrepreneurs would have started out with LEO supports or New Frontiers; when they have their business plan, their prototype and their market opportunities mapped out, and ready to raise seed investment, that’s generally when they transition to Enterprise Ireland.”

 

New Frontiers

The highly regarded New Frontiers programme is a popular starting point for many entrepreneurs. Like the LEO supports, New Frontiers is available nationwide and is delivered on behalf of Enterprise Ireland by Institutes of Technology and Technological Universities in 16 locations around Ireland. Since Enterprise Ireland began managing the programme in 2012, 4,700 individuals have participated in New Frontiers, with 1,430 going on to the immersive Phase 2 of the programme.

“New Frontiers is a good starting point,” says Teri. “Phase 1 can be done while you’re still in your day job, so you don’t have to go ‘all in’ to progress your idea and see if it has the potential to turn into a business.” 

The programme is aimed at early-stage entrepreneurs with business ideas from across all sectors including food & consumer products; information & communication technology; engineering & electronics; medical devices; biotechnology; pharma, digital media; cleantech/renewable energy;

They could also be developing new solutions that would have export potential, or an innovative alternative to what is mainstream in the marketplace. Entrepreneurs would have to have qualified that there is market potential for their product in order to be eligible for a place on the programme.

New Frontiers is delivered in three phases. Currently offered online due to the ongoing Covid-19 situation, Phase I consists of weekend and evening workshops to research and test the market potential of the idea. By the end of this phase, participants should have a good idea as to whether their idea can become a viable business – and be confident enough to leave their job or take a career break to immerse themselves in their fledgling business.

Entrepreneurs who have successfully completed Phase 1 can apply for Phase 2, which is a full-time intensive programme that focuses on developing and validating the business proposition. Participants are supported throughout this phase with workshops, mentoring, regular milestone reviews, a free co-working space and guidance from the programme team.

In addition, a tax-free stipend of €15,000 is paid directly to the entrepreneur over a six-month period, along with web hosting and support worth $15,000 from Amazon.  No equity is taken in your business in exchange for this support package.

Upon successful completed of Phase 2, participants can also apply For Phase 3, which focuses on bringing the product/service to market and preparing to acquire further funding.

Many New Frontiers participants have progressed on to Enterprise Ireland supports such as the Competitive Start Fund and the High Potential Start-Up Fund; these include Wellola, Video Sherpa, Swyft Energy, Snapfix, Examfly, LiveCosts, Positive Carbon and Safecility. And from there, great things can be achieved.

For instance, Immersive VR Education in Waterford, one of the 2016 participants, raised €6.75 million following a successful IPO in 2018. In 2020, Cork ed-tech company and New Frontiers graduate TeachKloud raised €750,000, with investment led by Frontline Ventures and ed-tech investor Sean Tai. And in terms of creating employment, 2017 participants Xerotech has established an R&D centre in Claregalway with space for 40 engineers.

The highly connected nature of Ireland’s supports for early-stage entrepreneurs means that the sky really is the limit for ambitious innovators. Great ideas with huge potential are quickly identified and given the right support to bring them as far as possible, furthering our island’s reputation as a hotbed of promising start-ups.

For more information on New Frontiers, including a calendar of starting dates across the country, visit www.newfrontiers.ie

The Future of UK Ports – Overview, trends and opportunities

As the UK ports industry enters a time of significant transformation, we hear from leading market experts on the latest trends and opportunities for Irish suppliers in the sector.

This webinar examines:

  • Ports for offshore wind

  • Freeports

  • Port decarbonisation

  • Smart ports and digitalisation

 

Contact our UK Cleantech Market Executive or gain key business insights with our on-demand UK webinar series.

    Celebrating half a century in Belgium

    Established in 1971 as the Irish Trade and Technology Board Belgian department, the Enterprise Ireland office in Brussels is celebrating its fiftieth birthday. And while there have been many changes in the five decades since its opening, one thing has remained constant and that is the level of support and assistance Irish companies continue to receive as they enter and scale the Belgian markets.

    There has long been a strong relationship between the two countries and Richard Engelkes, Interim Manager of Enterprise Ireland Benelux Region, says for Irish companies wanting to expand their portfolio into Europe, Belgium, with its large ports at Antwerp and Zeebrugge, is the gateway.

    “Belgium is Ireland’s second largest trading partner globally (the first being the US), with a total of €17.8 billion in 2020,” says Engelkes.

    “In fact, it goes both ways as imports of Belgian goods to Ireland was €2.4bn in 2020 – so there is a very good bilateral trade agreement between Ireland and Belgium.

    “Equally important for Irish exporters, Belgium is the 4th largest export market in the Eurozone and the 8th largest globally. The EU, in particular the Eurozone, is of great importance to Irish exporters as its proximity, the single market and single currency, a large customer base, supply chain patterns and our longstanding relationship are just some of the reasons why the region is crucial.”

     

    Location is key

    And, according to Engelkes, thanks to its location at the heart of Europe, Belgium, is key.

    “It boasts four ports, three airports, very good rail and road links and water connections, making it a gateway for markets all across the zone – it is also the headquarters of the European Union and NATO,” he says. “So continuing a strong business relationship with Brussels is very important for Irish companies.

    “And despite the difficulties faced by every sector during the pandemic, the world is slowly rebuilding and there are many opportunities for Irish SMEs wanting to enter the market or scale their business in the Benelux countries and beyond. There is already an advantage for Irish companies as their reputation is good, with many firms well established in the pharma and life sciences sectors. There is also a lot of opportunity in the construction sector as well as engineering, precision engineering and packaging. Hydrogen is also a growing opportunity and there is a strong interest in building smart cities with an emphasis on sustainability, so innovative solutions will do well in the region.”

    A reputation for innovation

    The acting regional manager says innovation is something which Irish companies are known for, so this reputation is advantageous to firms who are looking to enter the market. They are also known for being flexible, reliable, and adaptable, qualities respected by Belgian companies.

    “Irish firms have also shown a strong commitment to EU standards and regulations as well as being adept at solving complex technical challenges.” says Engelkes.

    “But I would say that while for the most part, doing business in Belgium is similar to Ireland, the main difference is the language (with French, Dutch and German spoken). So Irish firms doing business here, should be aware that although most Belgians are highly proficient in English, it is advisable not to assume so and to at least attempt to learn a word or two – this will serve as an icebreaker and can be very helpful in building a relationship.”

     

    Enterprise Ireland support

    Irish companies which are already established in Belgium include RKD Architects, PM Group, Combilift, CXV Global PPI Adhesive, and DPS Engineering, to name a few – and the role of the Enterprise Ireland Office in Brussels is to assist companies like this in scaling their business but also to help others enter the market. This could involve market research, consultancy, getting involved with events (live or virtual), introductions and promotions or publicity – so if they have an idea, Richard and his colleagues can help with getting it into newspapers and online.

    “We also work in conjunction with our Enterprise Ireland colleagues in Amsterdam and have strong relationships with the Embassy of Ireland in Belgium, the Embassy of Belgium in Ireland and the trade agency, Flanders Investment and Trade, as well as close cooperation with Belgian ports, such as the Port of Antwerp and Zeebrugge,” he says.  “In addition to this, Enterprise Ireland also supports expansion into the Eurozone with award-winning training courses, which are available to clients.

    “Robert Troy, Minister for Trade Promotion, opened an Enterprise Ireland webinar in March, entitled ‘Belgian/Irish trade:  Maximising Trade Flows in a new European Union’. He also visited Antwerp in May which shows the Irish government’s dedication to fostering strong bilateral trade relations with Belgium.

    “So, after 50 years in Brussels, the future for Irish businesses continues to look bright and we at the Enterprise Ireland office, are looking forward to continuing success for the next 50 years and beyond.”

    Click here to learn more about trading in Belgium or download our Going Global guide.

    Global Ambition – Industry Insights webinar series

    Enterprise Ireland will host a series of Global Ambition – Industry Insights sector focused webinars for clients, to deliver market intelligence on the evolving international export opportunities across global markets. The five sector market webinars will focus on:

    • Construction – 15th September, 9:30am – 10:45am

    • Lifesciences – 15th September, 2pm – 3pm

    • Travel Tech – 16th September, 3pm – 4pm

    • Agritech – 17th September, 11am – 12pm

    • Consumer Retail – 17th September, 2pm – 3pm

     

    This webinar series will draw on Enterprise Ireland’s unique insight into key markets for Irish exporters lead by the Market Advisor in that sector and will explore crucial issues such as relationship strategies and the shift in consumer behaviour in the context of Covid-19.

    You can register using this link. You can register for multiple webinars and all registrants will receive a copy of the webinar recording and slides.

    Evolve UK Podcast – Aerospace and Aviation

    Enterprise Ireland’s Evolve UK podcast series shares market insights to help Irish businesses identify opportunities across the UK.

    Senior Market Advisor Sean Long speaks with Gerry Reynolds, MD, Takumi Precision Engineering and Chairman of Emerald Aero Group about the Irish Aerospace Sector and the challenges and opportunities it presents to Irish suppliers.

    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.

     

     

    Net Zero UK – Ready For a Green Future

    The net zero challenge facing the UK will precipitate fundamental changes to the UK economy and to the ways in which business is done.

    To help companies understand how these changes will affect their sector and their business, Enterprise Ireland UK has launched “Net Zero UK – Ready for a Green Future”, a new market intelligence initiative for Irish exporters to the UK.

    The Enterprise Ireland UK office will be providing focused sectoral insights on the key UK net zero challenges, opportunities, and market developments. This will include analyses on products and services that are at risk of becoming obsolete and an examination of future net zero technology trends and demand areas. This market intelligence will help to inform your company’s strategic business planning and R&D efforts, helping to future-proof your activities in the UK market.

    A series of webinars featuring sector-focused sustainability experts, corporate stakeholders and UK net zero policy specialists will take place daily between Tuesday 22nd and Friday 25th June.

    Learn more and register below:

     

    Webinar – Net Zero UK Overview, Why, When and How? 

    Tuesday 22nd June, 15:00 to 16:00

    The net zero challenge facing the UK will reform the ways in which business is done. To help Irish exporters understand how these changes will affect their sector and growth, Enterprise Ireland UK and UK net zero experts will host a market insights webinar to examine:

    • The major industry and policy drivers that will accelerate the UK economy towards net zero emissions

    • The impact of the UK’S Sixth Carbon Budget, Green Industrial Strategy and individual corporate net zero plans

    • Key sectoral updates

    • Enterprise Ireland’s organisational climate action strategy

    • Green initiatives such as the €10 million Climate Enterprise Action Fund

    Register today

     

    Net Zero UK webinar series

    Net Zero UK Overview – Introductory Session   – 22nd June 15:00-16:00 

    Getting to the start line of the race to Net Zero – Decarbonising the Construction Supply Chain  – 23rd June 10:00-11:30

    The Role of the Energy Transition in UK Net Zero   – 23rd June 15:00-16:00

    UK Local Authorities and Net Zero   – 24th June 15:00-16:00

    UK Agriculture and Net Zero   – 25th June 10:00-11:00

    Market Watch – A view from Manchester

    Key Takeaways

    • The UK is the largest export market for Enterprise Ireland clients
    • The North West of England has been growing at a faster rate than London in recent years.
    • The Manchester office for Enterprise Ireland opened in 2019 and is providing support for many Irish firms operating into and in the region.
    • Despite Covid and Brexit, business is still moving.
    • There are opportunities for Irish companies in many areas including construction, healthcare, digital technology, and life sciences
    • Irish companies may also achieve contracts with local authorities

    As our closest neighbour, the UK has long been a crucial trading partner for Ireland and as one of the fastest growing regions of the country, the North West of England was the obvious choice for Enterprise Ireland to open up a second UK office last year.

    Headed up by Laura Brocklebank and her colleague Kevin Fennelly, the Manchester branch focuses on opportunities for Irish clients in manufacturing – covering areas such as pharmaceutical and food and drink as well as paper, print and packaging. It is also leading on UK local authorities with major spending budgets across infrastructure, transport, healthcare and more.

    “The UK is the largest export market for Enterprise Ireland clients, which, despite the challenges of Brexit, grew 2% to €7.9 billion in 2019, with all non-food sectors recording growth of 6%,” says the senior marketing advisor.”

    And the market continued to perform strongly in spite of uncertainty, demonstrating that client companies have remained committed to the UK market and its short/medium-term growth potential.

    “Adding to this, the north west of England is a particularly dynamic region which actually grew at a faster rate than London in recent years – in fact, if it were a country, it would be the 12th largest economy in Europe. And this was the key driver for Enterprise Ireland when selecting Manchester to locate its new office last year.”

    Brocklebank says the Greater Manchester region alone is the size of the Irish market and the combined authorities of Greater Manchester, the Liverpool City Region, North of Tyne, Sheffield City Region and Tees Valley have devolved powers which means that decision-making powers and funding are transferred from Westminster to these regions.

    “The UK remains a key first export market for Irish industry to enable them to innovate and diversify and for these reasons, many Irish companies look to the North of England to set up a presence in the UK and it is often their first overseas presence,” she says.

    “Our Manchester team focuses on opportunities in manufacturing, along with partnerships with UK local authorities who have major spending budgets. We collaborate extensively with our London office and work as one team with our 20 colleagues who are specialists in various sectors including Construction, Life Sciences, Healthcare, Digital Technologies, Cleantech and Renewables – all of which are of strategic importance and opportunity across the region. In effect, we are also the eyes and ears on the ground for our colleagues leading these sectors.

    “As the North of England is traditionally the industrial heartlands of the UK, having a base here shows our commitment to the region and we are attuned to the needs of Irish companies, which are active all across the area.”

    Accessibility is key and the Irish Sea has long been an important link between the UK and Ireland. So as the Port of Liverpool has submitted a bid to become established as a UK freeport, the regional lead says this could provide an opportunity for Irish companies with relevant smart ports solutions and automated and high-tech solutions which facilitate maritime trade and logistics.

    “Ireland’s strong marine and civil engineering companies will be keen to collaborate with UK partners in the North West to help facilitate the necessary infrastructural upgrades required to cater for increased trading and customs realities,” she says.

    “In addition, over the past number of years the area has experienced a boom in new building and infrastructure projects and there are many Irish companies leading in the Construction sector – John Sisk & Son have created a major landmark with Manchester’s Circle Square Affinity Living Project, ESS Modular opened their Manchester office in July 2020, having completed a number of projects in Leeds and Oldham, and have a current project with North Manchester General Hospital. And Techrete’s architectural precast concrete cladding can be seen on the iconic One and Two St. Peter’s Square.”

    Manchester is also home to a fast-growing £5 billion digital ecosystem and has been officially ranked as the UK’s Top Digital Tech City, while Newcastle became Smart City of the Year 2019 for its innovative approach in using technology to help transform services and improve the lives of residents.

    The marketing expert says there is a lot happening in the region which could provide opportunities for Irish firms.

    “Digital tech company, Gamma Location Intelligence has recently opened their first overseas office in Manchester as they expand into the UK, having established in Ireland in 1993,” she says. “They have become a market leader in the provision of location intelligence systems and services which drive innovation across many sectors including insurance and retail, focusing heavily on cutting-edge research and development projects, leveraging Artificial Intelligence and machine learning.

    “And in October 2020, VRAI, a data driven VR stimulation training for high hazard environments, announced their expansion into the UK with their first overseas office in Gateshead’s PROTO Centre, the UK’s immersive technology cluster.

    “There are also opportunities for Irish businesses who can support local authorities in digital transformation, smart cities, connectivity, transport, housing, infrastructure, roads and highways and adult and social care. And a great example of this is SilverCloud which works with Greater Manchester Health and Social Care Partnership, providing support for those who may be feeling stressed and anxious due to the current pandemic.”

    Of course, there are still some challenges, with uncertainty surrounding both Covid-19 and Brexit but the UK will continue to be an important and attractive market for Irish enterprise.

    “Earlier this month, we had a rich and productive meeting with Greater Manchester Mayor, Andy Burnham and Liverpool City Region Mayor, Steve Rotherham, to discuss and agree the strongly aligned sectors of which Enterprise Ireland clients have strong supply chain capability,” says Brocklebank. “So we are looking forward to further collaboration and to have deeper engagement across these sectors.

    “Enterprise Ireland also warmly welcomes the announcement of a new Consulate General for the North of England and we are looking forward to working together to strengthen Ireland’s presence in the region.”

    To learn more about UK opportunities see the Evolve UK page here 

    Orbidal CEO

    Evolve UK Webinar – Selling your Digital Solution to the UK Public Sector

    Laura Brocklebank, Senior Market Advisor, Enterprise Ireland UK and  Tony Corrigan, CEO, Orbidal will present best-practice and opportunities that exist in the UK public sector and how to be successful at winning UK Public Sector contracts. The webinar will feature:

    • Overview of UK Public Sector Procurement – Covid-19 update and what’s happening now?

    • Overview and opportunities that exist with UK Public Sector – Spotlight on Digital Frameworks

    • Best practice for prospective public sector suppliers

    • What makes a supplier successful at winning contracts?

    • Orbidal’s process to ease and simplify the process of tendering.

    Webinar Series: Free Trade Agreements

    

    EU Free Trade Agreements (FTAs) with Canada, Japan, Mexico and South Korea enable Ireland to increase its trade, GDP and national income. The FTAs allow Irish exporters to explore new opportunities as market access increases and they benefit from competitive advantage in doing business in these countries.

    Join Enterprise Ireland as it hosts a webinar series on Free Trade Agreements and doing business in these four export markets: Canada, Japan, Mexico and South Korea.

    Each webinar will be opened by Robert Troy TD, Minister of State Department of Enterprise, Trade and Employment with responsibility for Trade Promotion. The webinars feature contributions from market experts and guest speakers from Irish companies who will share their experiences on doing business in specific markets.

    If you’re considering exporting to these markets, or scaling your existing export business, these webinars are for you.

    Click on the links below to register for upcoming webinars.

    Doing Business in Japan

    Thursday, 17 June 2021, 9am BST

    The EU Japan Economic Partnership Agreement provides a positive backdrop to Ireland Japan trading relations. This webinar will explore the experiences of key Irish business interests in Japan, and will outline the knowledge, networks and access supports available to capitalise on what is an increasingly important market for ambitious Irish exporters.

    For the full agenda and to register, click here.

     

    Doing Business in Mexico

    Tuesday, 22 June 2021, 3pm BST

    With duty-free trade on most goods and a simplification of the customs procedures, the latest 2018 EU-Mexico trade agreement has improved the already positive and prosperous relationship between Ireland and Mexico. This webinar features two market experts who will highlight opportunities and explain business culture and processes, as well as providing practical guidance for market entry.

    For the full agenda and to register, click here.

     

    Doing Business in South Korea

    Thursday, 24 June 2021, 9am BST

    The EU-South Korea FTA can provide enhanced business opportunities for Irish businesses. This webinar brings together experts on the topic to provide knowledge and insights on key elements of the FTA, and to enable Irish businesses to make use of the FTA to its fullest in doing business in South Korea.

    For the full agenda and to register, click here.

    Doing Business in Canada


    Tuesday, 25 May 2021, 3pm BST

    Attendees will learn more about the opportunities available in the Greater Montreal region, the Comprehensive Economic and Trade Agreement (CETA) between Canada and Europe, and what incentives are available to Irish companies looking to expand in North America.

    Watch back on-demand, available here.

    Patrick Torrekens, Head of the Enterprise Ireland BeNeLux

    Market Watch – Benelux

     

    Overview

    • The BeNeLux countries (Netherlands, Belgium and Luxembourg) are working hard to return to normal business practise.

    • Health and safety remain a prime concern so remote working and virtual meetings will continue to be in place for some time to come.

    • Continued communication with clients is vital.

    • Opportunities are available in the biopharma, digital connectivity, and biotech sectors.

    Like the rest of Europe, the BeNeLux countries are working hard to return to some level of normality after Covid-19. And Patrick Torrekens, Head of the Enterprise Ireland BeNeLux team, says despite the fact that remote working remains in place, business is beginning to pick up in the region.

    “Just like many people across the world, I have been working from home for the past few months and here in the BeNeLux countries, remote working, particularly for the services industry, is still the recommended norm as part of the three countries’ re-entry strategy,” he says.

    “However, more and more production facilities, construction sites, engineering plants and office buildings are gearing towards full capacity and the ports of Antwerp and Rotterdam are fully operational with authorities doing everything to maintain the flow of goods in and out of the three countries.”

    Torrekens says health and safety remain the prime concern and the necessary measures have been taken to ensure social distancing on the work floor, on public transport and in public places. While industry heads and Government are doing everything they can to get everything up and running once more.

    “Things are not back to normal as yet, but the Dutch, Belgians and Luxemburgish, are keen to see business pick up again as quickly as possible,” he says. “When we are talking to buyers in our markets, we still hear that their focus is on adapting to the new reality on making their supply chain, and other critical processes, Covid compliant.

    “So any solution which helps them to achieve Covid compliance gets their full attention and that is why it’s so important to stay closely connected to your clients as they are also turning to their existing client base for inspiration and support at the moment. But BeNeLux decision makers are not currently looking at new investment projects so expect a delay in the sales cycle, be patient and stay connected with your in-market contacts.”

    But despite the delay in returning to normal, he says business is definitely moving in certain sectors and some markets remain buoyant.

    “There are opportunities and exceptions to be found, particularly in the sectors of high relevance for trade with Ireland,” says Torrekens. “The BeNeLux region is a hot spot for pharma and biotech research and innovation and it is expected that multinationals such as Johnson and Johnson, with research facilities in the Antwerp region, will invest in new laboratories for vaccine production and other virus related research.

    “So it is encouraging to see that some Irish companies are already preparing to play a part in this by strengthening their teams in markets.”

    The past few months have clearly pointed at the strategic need for digital infrastructure and the Netherlands, in particular, is a frontrunner in digital connectivity and continues to invest in its infrastructure.

    The Enterprise Ireland regional manager says communication is vital during these strange times, so Irish companies must do all they can to stay in touch with their clients.

    “An interesting fact to mention is that the Netherlands has witnessed the highest global growth rate of virtual meetings held over digital platforms in the past weeks,” he says.
    “So rest assured that if your contacts are not available for face to face meetings, they are definitely open, and accustomed, to online sessions. And please remember that the travel restrictions which are currently in place in the Netherlands, Belgium and Luxemburg should not prevent you from reaching out to existing clients and new prospects.

    “Finally Belgians and Dutch and Luxemburgish people have massively turned to online commerce and businesses have adapted their sales channels to accommodate this. This has given an extra boost to businesses in IT, and professional service but also in transport and logistics.

    “Ultimately, your solution will stand out if you have a strong value proposition which gives you a good chance to win more business in this region. And our teams stand ready to support you with advice and hands on support, so do get in touch, virtually for now, but hopefully face to face soon.”

    Get key insights on doing business in BeNeLux and the supports available from Enterprise Ireland.

    Out of their comfort zone and into the Eurozone

    Industry across every sector of the country has been affected in some way or other by Brexit. But Ireland is still very much a part of the Eurozone and Anne Lanigan, Regional Director of the Eurozone for Enterprise Ireland, says it is vital that businesses in this country realise how valuable the European market is.

    To validate this, Enterprise Ireland and the IIEA (Institute of International and European Affairs) have come together to deliver a series of three events entitled ‘Europe is our Future’, aiming to change how Irish business views the EU.

    “The EU represents the biggest free trading area in the world, giving Ireland full access to this large marketplace and the three events, the first of which took on May 28th – with the second and third coming in July and September – aim to draw attention to this,” she says.

    Untapped trade opportunities

    “The webinars will highlight the unique trade opportunities for Irish business in Europe, particularly in relation to the single market and the single currency. They will also look at the untapped opportunities for Irish owned businesses in the EU and the strong reputation which Ireland, and indeed, Irish products and services, enjoy in Europe.

    “It will also help to increase Irish business’ understanding of the EU and position the Eurozone as an extension of Ireland’s domestic market as well as highlighting the supports available to Enterprise Ireland clients.”

    The single market was designed to enable frictionless trade between member states with no customs, tariffs or other barriers to trade and regulatory alignment across the region. With a population of over 440 million people this is the biggest free trading area in the world. And Lanigan says, this makes it a very big extension to our domestic market.

    “There are so many benefits to trading in a single currency as it introduces transparency and removes costs related to foreign exchange and the associated risks,” she says. “And Ireland’s adoption of the Euro has given Irish business access to a huge single currency market and an economy with a combined GDP of $13tr.

    “Of course, Europe is also a close neighbour and proximity has been proven to increase trade opportunities, while the increased direct maritime links to France, The Netherlands, Belgium, Spain and Portugal in recent months have brought us even closer.”

    This closeness has never been more important as when Brexit finally happened in December, it highlighted the challenges which had arisen regarding trading with the UK in their new status outside the single market.

    But, while Irish firms will continue to do business with the UK, there is no doubt that the benefits of the single market now make the EU very attractive, including the benefits of ongoing regulatory alignment. And Brexit or no Brexit, the Eurozone offers the cost and transparency benefits of a single currency as well as access to a very large market.

     

    Exports to the Eurozone

    “However, while the multinational sector in Ireland has reaped the benefits of the single market, Irish owned businesses have yet to take full advantage of what is the biggest free trading area in the world,” says Lanigan. “According to 2019 data, Enterprise Ireland client exports to the Eurozone (2019: €5.6bn) were equal to just 70% of the value of those to the UK (2019: €7.9bn). This is despite the fact that the Eurozone population and Eurozone GDP is 5 times that of the UK – this is an untapped and immediate opportunity. So, the Eurozone markets are now a key element of Enterprise Ireland’s strategy and in fact since the launch of our Eurozone strategy in 2017, exports to the Eurozone have increased by over 33% and growth in Enterprise Ireland client exports increased by 15% in 2019 alone. And exports to the Eurozone are steadily increasing as a percentage of over exports – in 2019 this was 22%, up from 20% in 2017.”

    With this in mind, the Eurozone expert says Enterprise Ireland is uniquely positioned and financed to help Irish companies to both enter and scale in Eurozone markets by offering one-to-one support, through its world class market research centre, financial support and promotion of innovative Irish produce and services.

     

    Enter the Eurozone

    There is also a programme of events to introduce European buyers to the innovative capabilities of Irish companies in sectors such as internationally traded services, high-tech construction, engineering, ICT and life sciences. And the four-month Enterprise Ireland Enter the Eurozone training programme, now in its 3rd iteration, brings a group of 25 CEOs and their sales and marketing teams through the necessary steps in successfully entering a Eurozone market.

    “In addition, the IIEA, which is Ireland’s leading international affairs think tank, aims to provide a forum for all those interested in EU and International Affairs to engage in debate and discussion, and to evaluate and share policy options,” adds Lanigan. “They celebrate their 30th anniversary this year and there is also a benefit for Irish companies to become members of the IIEA, so they can stay abreast of European affairs which may impact or present opportunities for their business in addition to networking with senior figures in business and government. “So, all in all, the future for Irish companies looking to do business in the Eurozone, is looking bright.”