“Business is definitely getting back to some semblance of normality, but things are a little different,” says Ryan. “In Singapore, we are now in Phase 2 of the ‘Circuit-Breaker’ measures and most businesses are now allowed to return to office environments. But the message remains consistent and to work from home where possible.
“Politically there is a history of stability and longevity here with governments making long-term plans which are carried on by successive ruling parties and this is very beneficial to the economy of the region.”
With experience of the SARS epidemic in 2002-2004, the governments of SE Asia have been methodical in their management of the Covid outbreak and this has proved crucial in the successful reopening of business.
“During the phased approach, the return to work was carefully managed,” says Ryan. “And around the region, key markets are opening up and demonstrating strong ownership in managing business and movement of goods.”
So with the effects of Covid shaping how people work and interact, the ASEAN director says strong sectoral opportunities have emerged.
“From the Life Sciences sector, there is significant interest and demand for services which offer innovative solutions to help eliminate the effects of Covid. And the crisis has shown how reliable technology can be and has forced governments to take a fresh look at implementing digital health solutions in their regions.
“Consumer Retail is also playing out strongly with the likes of Water Wipes and Pestle & Mortar being two good examples of clients gaining traction in Asia.”
But most businesses, regardless of sector, are focused on saving cost, generating additional ancillary revenue streams and using technology to help prevent Covid in the workplace.
“Businesses are very keen to understand how technology can help them combat the pandemic and keep staff safe,” says Ryan. “We’ve had strong engagement with companies who see the value proposition, most notably with the likes of Novaerus who have a proven air and surface disinfection device. While companies such as Combilift have proven capabilities in an industrial space, helping to eliminate waste and enabling companies think more efficiently.
But one of the real strengths of Enterprise Ireland is its network overseas.
“We are the gatekeepers making sure clients are ready to make the leap,” says Ryan. “We also work with them to break down any barriers – geographically and culturally.
“So on a positive note, we’re definitely seeing greater availability and access. Prospective buyers in the region are realising that unless they open their minds and are willing to think innovatively, they will face the prospect of losing opportunities to their competitors, and in this climate that could prove fatal. Irish companies have a long history of being innovative and entrepreneurial and business in Asia is very responsive to this.”
The SE Asia region encompasses 10 countries with a population of circa. 650m people and Ryan says the market is very much open with he and his team engaging regularly with client companies to support a successful entry into the region.
“Ireland, in comparison to some parts of Asia, is small, and our team works extremely hard on selling a consistent Irish message,” he says. “We have strong success in opening doors and creating opportunities and our reputation across the globe is superb with Ireland’s expertise in Asia shining through from the perspective of innovation and quality.
“So there is light at the end of the tunnel, and we’re encouraging clients who have a product ready to go, to engage in Asia as we are laying the groundwork for opportunities to be realised in 2021 and beyond.”
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.
“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.”
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.
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
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.
“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.”
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.”
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.
“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.”
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.”
“Like companies in many countries across Europe and indeed around the world, Irish firms have faced several challenging years with Covid and Brexit and more recently the disruption to supply chains and price increases in raw materials,” he says.
“But despite this, exports to the Eurozone grew in 2020 by 1.6% to €5.85 billion and 23% of Enterprise Ireland supported companies’ exports are to the region. In addition, Ireland was the only EU state in 2020 which experienced positive economic growth. So despite the challenges, there are plenty of opportunities available for Irish companies across the region, which comprises of 440 million people and is the biggest free trading area in the world.”
According to Rooney, the single market and customs union is an extension to our domestic market, which is of huge benefit to Irish firms – particularly as the EU is investing over €2 trillion to make Europe greener, more digital, and more resilient.
In addition, each member state has committed investment in a range of their own national priority issues – providing great opportunities to leverage the increase in investment.
“Of course, like a lot of markets around the world, Covid has had a big impact, particularly on travel and tourism – but numbers have shown that Irish companies have been very resilient throughout the pandemic,” he says.
“Vaccination and the easing of restrictions is also leading to a faster than expected recovery, so the EU and the Eurozone are set to expand at equal rates of 4.8% this year and 4.5% in 2022.”
Enterprise Ireland supports clients across its eight offices in the region and while Ireland’s good reputation has traditionally stemmed from our food and drink exports, the region expert says Irish firms are increasingly gaining a reputation for innovation and flexibility.
“A lot of the markets in the region are sophisticated with local incumbents and alternatives so the key, for Irish companies wanting to scale, is to translate this innovation into value and a language the customer understands, which often needs to be tailored market-for-market,” he says.
“Planning is also so important, and we have seen time and time again that companies which take part in our Enter the Eurozone programme or put in the effort to plan early, will reap rewards in the end. This also applies to selecting the right market – not all are the same – so I would encourage SMEs not to focus simply on size but to look at what makes it attractive to them and whether or not they have the resources and skills to access it.
“They should test and validate their findings and then determine the value proposition for the local market by working out who the target customer will be and what they will be looking for. Then they can determine what value they, as a company, can bring to the table, whether that involves benefits around price, speed, simplicity, or compliance. And as nothing happens without resources, plans should be costed and agreed in advance.”
While Manus Rooney and his team are on hand to offer advice and support to companies wishing to enter the market in the DACH region, there are already a number Irish firms with a strong foothold in the market.
“These include Dennison Trailers who have recruited locally and the Watershed Group in Germany, the latter who have grown by acquisition to build and scale quickly.
“In France, PEL Waste Reduction Equipment use a local distributor and recently won a tender with Metropole of Marseille – and in Benelux, Druid Software work with their partner Koning & Hartman – who have enabled them to sell into the Port of Rotterdam.”
It is clear that there is a lot of opportunity for Irish businesses across the Eurozone and Enterprise Ireland is currently running a webinar series, Europe is our Future, the most recent of which looked specifically at Building Sales and Marketing for a European Audience.
“It is very relevant for companies looking to start and scale in the Eurozone,” Rooney explains. “And it uniquely offers insights from both European and Irish company perspectives on how they approached building European sales and marketing capability.
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:
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:
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
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.
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.”
