Senoptica aims to reduce food waste through smart packaging with Commercialisation Fund

Senoptica aims to reduce food waste through smart packaging with Commercialisation Fund

Senoptica aims to reduce food waste through smart packaging with Commercialisation Fund 2

“The bottom line is that without the Commercialisation Fund, Senoptica wouldn’t exist.

Dr. Rachel Evans, Co-founder, Senoptica Technologies

Key Takeouts:

  • Senoptica Technologies has developed innovative technology that identifies the gas content of modified atmosphere packaging.
  • Enterprise Ireland’s Commercialisation Fund supported a feasibility study and technical and commercial development of the technology.
  • The company is currently negotiating a licensing agreement with Trinity College Dublin prior to spinning out from the university.

Case Study: Senoptica

As part of her PhD studies, Dr. Rachel Evans developed a novel idea for an optical sensor technology, but it wasn’t until one of Enterprise Ireland’s Commercialisation Specialists knocked on her door many years later that the transformation of the idea into a commercial product began.

“At the time I was a lecturer in Trinity College Dublin and one day a Commercialisation Specialist stopped by to find out if I was involved in anything that was appropriate for Enterprise Ireland funding. I had been thinking about how I could develop the sensor technology and identify a specific application for it.

“The Commercialisation Specialist advised me to carry out a feasibility study to test the market, which I did, with support from Enterprise Ireland. They helped me to find someone with experience in the food sector to act as a consultant on the study and he was critical in identifying where the market might be for the technology. We found that a lot of companies were interested.”

Senoptica aims to reduce food waste through smart packaging with Commercialisation Fund 3With strong indications that there was a market for the sensors, particularly in the meat industry, the next step was to do a proof of concept study. In 2013, Evans secured Commercialisation Fund support and in 2014 brought Dr. Steve Comby, a postdoctoral researcher and a specialist in molecular optical sensors, on board for the project.

“Rachel and I had matching and complementary skills so we had all the expertise we needed from the point of view of technology to make the project successful,” says Comby.

By the end of the project the technology was proved at a small scale but it was not industry ready.

 

Support to increase the technology readiness level

“We needed to adapt elements of our product to enable us to create something that is more industrially relevant and that could be manufactured in large quantities,” says Comby. “So we applied for a follow-on Commercialisation Fund.”

Evans explains: “The market isn’t interested in 5–10 years’ development time, they want the technology now. But there’s a huge leap from doing something in a lab on a small scale to doing it on an industrial level. In the first Commercialisation Fund project we were producing an A4 size of film, by the second we were producing 5km of film. We couldn’t have achieved that scaling without Enterprise Ireland’s support.”

Further support came from CRANN, the Centre for Research on Adaptive Nanostructures and Nanodevices and AMBER, the centre for Advanced Materials and Bio Engineering Research, both in Trinity College, which supplied bridge funding to keep the project going between the first and follow-on Commercialisation Funds. Importantly they also gave the team access to a portfolio of companies.

“As an academic you can be reluctant to speak to industry, but CRANN and AMBER knew how to do that, which was extremely helpful. They are still very supportive,” says Comby.

Senoptica aims to reduce food waste through smart packaging with Commercialisation Fund 4Evans admits that the pathway to commercialisation wasn’t straightforward.

“We needed to develop an approach to integrating our sensor formulations within food packaging. There are a lot of stakeholders in the food industry’s production and distribution chain so we had to talk to many different companies and that was really challenging.”

But the team found that with the project’s Commercialisation Specialist working in tandem with Trinity’s Technology Transfer Officers and the Commercialisation Manager at AMBER, they had a powerful network of support.

“The Commercialisation Specialist was very helpful in making contacts and setting up meetings. The support I got internally in Trinity from Technology Transfer Officers and the Commercialisation Managers at Amber was also hugely important in getting us to the stage we’re at,” says Evans.

Throughout the project the team met regularly with Enterprise Ireland advisors. “That was useful as they had an overall view while we were immersed in the technology, so they could see challenges or solutions to challenges that we’d overlooked,” says Comby.

 

From concept to company

Senoptica was incorporated in 2018 and, to complement Evans’s and Comby’s skills, Brendan Rice joined as Chief Executive Officer to focus on business development. His appointment was facilitated by Enterprise Ireland’s Business Partner Programme.

“Brendan’s appointment was essential for the development of the company. We needed to strengthen the business side of things and Brendan has extensive experience in the food industry. He was able to quantify the size of the opportunity,” says Comby.

By then Evans had taken up a full-time position in Cambridge University and although she remains a director and consultant to the company, its future development will be driven by Comby and Rice.

“I had to let go and that’s been really hard as the technology was my idea,” she says. “The reality is that there are few academics who will quit their jobs to become CEO of a company so someone else has to take it forward and you have to let go and look at the bigger picture. The important thing for me is to focus on what my motivation was in bringing my idea to market and how much satisfaction I will get from seeing it launched.”

Senoptica aims to reduce food waste through smart packaging with Commercialisation Fund 5Having taken the early stage research to successful industrial scale production, Comby is well placed to direct the future development of the technology. And he feels he has acquired new skills along the way.

“I’ve learnt about project development, scheduling, scaling up and achieving clear deliverables. I also learnt massively from the interactions with industry representatives,” he says.

“I’d say to others, if you think you have technology that could be commercialised start with the feasibility study and you will find out if people are interested in what you are doing. And don’t be afraid, because the Commercialisation Fund is a great support.”

For more information about applying for Enterprise Ireland’s Commercialisation Fund, contact your Technology Transfer Office.

Help your company grow by using the Market Research Centre

With Brexit a reminder of the importance of diversifying and discovering exciting new export opportunities, Enterprise Ireland’s Market Research Centre can help.

Conducting the right market research is vital for businesses to maintain their competitive edge and enjoy successful export growth. According to a recent Enterprise Ireland survey, more than four out of five businesses plan to diversify into the Eurozone – a smart move given its potential export market value of €38bn alone.

Enterprise Ireland-supported companies can benefit from support in their plans to expand their reach. Here are five ways that our Market Research Centre can help.

 

1. Access world-class market research

Conducting market research before exporting into new markets can cost time, money and resources for which your business must budget. The Market Research Centre can help by providing access to up-to-date premium market research reports from some of the world’s leading market research publishers, such as Euromonitor International, Frost & Sullivan, and Mintel.

The Centre provides access to:

  • Country reports
  • Global company profiles
  • Industry sector reports
  • Trend forecasts.

The Centre is available free-of-charge to companies supported by Enterprise Ireland across the regional office network.

With some individual reports costing tens of thousands of euro, the potential value of using the service is immense.

 

2. Know your markets

When planning to export, the most important step is to learn as much about your new target market as possible. Accessing the latest research available through the Market Research Centre will help you to understand potential export regions and the competitors already operating there. Questions you should consider include:

  • What is the size of the market?
  • Who are the big players?
  • Is there a dominant brand in the market

       

      3. Know your channels

      When Abcon, an abrasives and industrial hose manufacturer from Co. Cavan wanted to increase exports to the Eurozone after the Brexit referendum, they needed to understand the markets that would help to grow the business.

      With a high volume of sales driven by internet searches, accurate information about the names of products in local languages proved essential to underpinning successful international digital marketing tactics.

      Lyn Sharkey, Sales and Marketing Director for Abcon, says that the Market Research Centre’s information specialists helped the company to obtain such information, in addition to lists of potential leads and trade events to attend – all of which would have been far more difficult to source alone.

       

      4. Insights about your customers

      Understanding the demographics of a market and the competitors already succeeding there is of little value unless you also understand your new potential customers, and how your offerings should be tweaked or positioned to best appeal to them.

      One of the most vital considerations for any company is: “what does your customer want, and how does it differ from what you’re already doing and delivering?”.

      When Irish Dog Foods, the Naas-based pet food manufacturer, was planning to enter the South Korean market, they asked these same questions. The company turned to the Market Research Centre to learn which customers it should sell to.

      “One of the things we learned during our market research is that there are practically no large dogs in Korea,” says Darren Keating, Marketing Manager of Irish Dog Foods. “That meant we specifically targeted the owners of small dogs. That information came from the Market Research Centre.”

       

      5. Guidance from information specialists

      The Market Research Centre’s information specialists have a wealth of experience and are available to guide you to the most relevant reports and databases for your needs, and to provide support before and during your visit.

      Sometimes the best support is reassurance from a specialist that you are heading in the right direction, allowing you to use your time efficiently.

       

      Contact Us

      Contact the Market Research Centre to discuss your research request and to arrange a visit to our centre in Dublin or to any of our eight regional office hubs.

      Phone: +353 (1) 727 2324

      Email: market.research@enterprise-ireland.com

      Opening Hours: Monday-Friday 9am-5pm

      Iberia

      Ambition Spain & Portugal: How we got Iberia to work for us

      Easy to get to, easy to get around, but a tough nut to crack. It’s sometimes thought that the Iberian markets of Spain and Portugal are challenging to take on. Language barriers and differences in business culture are cited as barriers to a combined market with a GDP of almost €1.5trn.

      But both countries not only actively trade with Eurozone neighbours including Ireland but enjoy legacy links with growing, dynamic markets in South America and Africa, acting as bridges for firms active in the Iberian market. It’s no wonder the region is home to global giants such as Banco Santander and Telefónica.

      The economic downturn changed the region’s business landscape, and structural reforms opened up new opportunities for firms looking for a route to market. Along with reforms in labour and employment, a cultural shift towards innovation has helped Irish firms to enter this valuable market.

       

      Formula for Irish success in Spain and Portugal

      At Enterprise Ireland’s Ambition Spain and Portugal event, Irish firms that have made successful entries to the market outlined why it had worked for them. The common ingredients for successful exporting included getting boots on the ground, perseverance, and robust planning.

      Research and planning was a major exercise for Atlantic Therapeutics, the Galway-based rehabilitative medical devices firm. The company already has a presence beyond Ireland in the UK, France, Germany and the USA, and wanted to move into Spain. Market research threw up interesting market segments.

      “When we started out 18 months ago looking at the Spanish market, we looked at the medical device space to start with. Through Enterprise Ireland, we were introduced to people who could focus our route to the Spanish market,” Alan O’Shea, Head of Distribution Markets for Atlantic Therapeutics.

      During discussions, the company realised that their rehab devices could get market share by using the well-developed TV home shopping channels in a very buoyant private home use market.

      “It isn’t traditionally the usual distribution channel for our technology,” he told delegates. “We’re two months in and so far it’s a very positive experience.”

      Finding a complementary partner with local market knowledge and contacts can provide a lift to securing new exports. That was the route that helped accelerate growth for Tullamore-based emergency vehicle kit-out specialists Acetech. Enterprise Ireland helped to introduce the firm to a Spanish ambulance manufacturer who was interested in their vehicle intelligence systems.

      “They will now represent us, in terms of putting our equipment in the vehicles they are providing to the Spanish marketplace, and also the Latin American marketplace as well,” Acetech sales director Fergus Claffey told delegates.

      By 2020, Spanish business will account for 10% of turnover for Acetech as a result, he said.

       

      What to do after market entry

      Once in the market, Irish firms should get boots on the ground as regularly as possible, the conference was told. Not only will you get a handle on the business culture but it can help with honing your product fit, and generate new market opportunities.

      Eamonn MacLughadha, founder of Spanish-based import company Machemac and based in Spain for the past 23 years, said Irish firms should get their feet on the ground if only to get an idea of scale.

      “If you are capable of supplying 50% of the Irish market, that may only equate to 5% of the Spanish market. If your product takes, do you even the capability to deliver?”

      With six months being a typical timeframe for payment in Spain, resourcing your route to entry is vital, he added.

      “The closer you stick to a Spanish customer, the better the feedback you get on a problem. Getting to see them face to face will get you what you need to know. A phone call or email just won’t cut it.” says MacLughadha.

      Likewise in Portugal, being in the market is seen as a commitment to the customer, said Helder Palhas, country manager for Aspire Technology. “Keep your relationship alive. Don’t just abandon a customer after a sale, keep in touch. Go for lunch, even if you don’t have a product to sell them right now – it will make a difference.”

      The sentiment was echoed by Mr Claffey: “We thought we knew what we were doing with the research but we learnt more from a three-hour plane trip to Spain than three months of planning. Stop relying on Skype.”

      One of the biggest pitfalls that befalls Irish firms trying to enter the market in Spain, according to MacLughadha, is not appreciating the length of the average sales cycle.

      “In my experience here, the sales cycle is a lot longer than Irish companies are used to, or comfortable with. They give up too soon. The sales cycle is a lot longer. I’ve seen agri sales take two years from trade show to sale. That wouldn’t be unusual. You have to persevere.”

      For Acetech, entering the Spanish market was a revelation even with all the steep learnings: “The cultural fit between Ireland and Spain is very, very good. I don’t know why we didn’t do it earlier,” said Mr Claffey.

      Learn more on trading in the Spanish and Portuguese markets and the Enterprise Ireland supports available with our Going Global guide.

      GradStart Programme

      GradStart: 3 reasons why your company should apply

      With Irish companies increasingly urged to step into new markets, the benefits are clear – new opportunities can equal new customers to deliver big growth.

      The challenges of communication and cultural understanding are sometimes a barrier that can make companies nervous about pursuing those rewards.

      But support is available to help you attract top talent that will enable your business to succeed and scale in new export markets. Top among these is a unique programme called GradStart, which has helped many Irish companies to overcome the challenges of communicating with customers and partners overseas. It provides funding for Enterprise Ireland-backed companies, across a broad range of business sectors, to employ graduates in a variety of positions.

      Why apply for GradStart?

      1. Attract top graduate talent

      Get the tools your company needs to successfully compete for graduate talent in a crowded marketplace. Helen McMahon, senior executive for Client Skills with Enterprise Ireland, advises:

      “Having the right skills in a company is a huge issue in an era of low unemployment. To get the skills they need, Irish SMEs also have to compete with multinational companies and overseas employers for candidates. GradStart can really help with attracting the right talent into a company.”

      The benefits of GradStart can also extend beyond meeting the immediate skills needs of a company. Long term, Irish companies can build relationships, not just with graduates in their sector but with relevant education and training institutes. These relationships can position you at the very cutting edge of your industry not just now, but into the future.

      1. Build your company’s capability

      Using GradStart helps Irish companies to build capabilities across a broad range of disciplines, including engineering, ICT, operations, technology, and finance. In fact, the only two areas for which GradStart support is not available is for graduates working in direct sales and marketing.

      Helen adds, “With graduates, people often immediately think of sales and marketing. But language graduates have a great deal more to offer. For example, they can work in market analysis or customer analysis. They can help develop a business case or have input to the new product development or adaptations to existing products.”

      1. Stimulate innovative thinking

      A recruit with a fresh perspective can help your business to approach challenges and opportunities in new ways, by questioning the way things are done and introducing new ideas about products, processes and business models.

      Helen says, “To succeed in European and global markets, Irish companies need the confidence of knowing they have the best talent, the most innovative thinkers and the freshest ideas in their sector. By enabling them to attract, retain and build long-term relationships with ambitious, talented individuals, GradStart helps Irish SMEs develop a real competitive edge in new markets.”

       

      Special support for languages

      The Eurozone should be high on the list of markets targeted by Irish exporters. The scale of the opportunity is immense. Enterprise Ireland-backed companies currently send €7.9bn in exports to the UK.* If they were to export the same amount per head of population to the Eurozone, that figure would rise to €38bn. [*Source]

      If the Eurozone is a market you have yet to explore, GradStart can help. While the programme is available for graduates in a wide variety of disciplines, there is a particular focus on language graduates given their importance in developing export markets.

      “Irish companies have traditionally focused on English-speaking markets and it’s true to say that, as a country, we don’t generally have great foreign language skills,” explains Helen.

      Research shows that Ireland lags behind our European neighbours on language proficiency and that can impede a company’s ability to succeed in non-English speaking markets.

      “It’s not just about being able to speak to clients and business partners in their own language, although that’s important,” says Helen. “At a deeper level, it’s about understanding the cultural nuances and having a clear picture of the business environment as it is, not as you think it might be.”

      “You can have a brilliant product or service but if you have no grasp of sometimes quite subtle differences in, for example, marketing norms, visual preferences or business processes you won’t meet with the same success. The only way to truly understand a customer is to speak their language.

      “To really build relationships in non-English speaking export markets, the companies and clients you’re dealing with really need to feel you understand where they’re coming from in terms of language and culture. They’ll appreciate you putting that energy into understanding them which can make all the difference in a new market.”

       

      What does GradStart offer?

      GradStart provides financial support for a company to recruit up to three graduates. That covers 50% of a graduate’s yearly salary, up to a maximum of €15,000 a year in grant aid (ie a salary of €30,000) for two years, depending on certain conditions.

      For graduates with proficiency in a language relevant to the business role, the grant increases to 70% of the salary, up to a maximum of €21,000 a year for two years.

      It is available for Irish graduates or for overseas graduates, based either here or overseas. As long as the graduate is being paid by an Irish company, GradStart can provide funding.

      Get the support you need to step into new markets. Apply for GradStart now.

      Commitment to excellence keeps Takumi at cutting edge of engineering manufacturing

      When Takumi Precision Engineering wanted to grow its capability, its management team realised that it would require a significant investment in capital equipment, innovation, and staff training.

      Investing for the future is not new for Takumi. Founded in 1998 by Gerry Reynolds, the Limerick-based engineering manufacturer is a leading supplier of components to a wide variety of multinational aerospace and medical device companies. Over the years, Takumi has accumulated a unique range of CNC precision machining equipment and invested in its staff to a level that has positioned the company at the cutting edge of their sector.

      Takumi’s revenues have doubled to €10m in the four years since it moved into the aerospace market in 2015. Aerospace now accounts for 60% of its business but the medical devices sector is also a vitally important market segment, which continues to offer ongoing opportunities – and Takumi’s management team is confident that the company will be a €20m business by 2025.

      In order to continue its strong growth trajectory, Takumi had to put solid foundations in place. The company sought assistance from Enterprise Ireland’s Operational Excellence offer, a large-scale holistic company transformation programme that is designed to deliver a change in company culture and raise productivity.

      Culture can be one of the most difficult elements in an organisation to change and even more difficult to sustain. The Operational Excellence offer is focused on embedding competencies necessary to achieve ongoing productivity and efficiency gains, thereby creating sustainable improvements in the business and across its supply chain throughout its one to two-year assignment period.

      This is not an easy task for businesses and requires full commitment at every level of management, in every department, at every stage of the transformation. Operational Excellence assignments must be built around an identifiable project plan. This can include support for business innovation, capability building, and/or capital expenditure.

      Companies benefit from a streamlined process whereby they can apply for these supports within the one Operational Excellence offer, as opposed to the usual process of applying to Enterprise Ireland for them separately.

      Business innovation support includes the implementation of new production, delivery or organisational methods in the company, while capability training is offered to support the plan along with capital expenditure related to production or operations.

       

      How Takumi used Enterprise Ireland’s Operational Excellence offer

      The result is a one-off application to transform the business, and Takumi sought assistance through Operational Excellence in the following headings:

      1. Acquisition of new capital equipment
      2. Introduction of a new Nadcap approved metal treatment plant for aerospace components
      3. Refinement and strengthening of the key core competence of metal cutting/machining through an R&D project on discovering and adopting the latest 5-axis CAM technology
      4. Adoption of Lean methodologies into the business operating systems, particularly through fine-tuning the ERP system and adopting Industry 4.0 practices across the entire bandwidth of the business, including processing orders, scheduling and planning, reporting and metrics
      5. Growing further tiers of management and supervisors so that the business can continue to expand while preserving the ethos of ‘growing our own’.

      Takumi has involved its entire management team in its Operational Excellence offer, which is running from 2018-2021.

      Managing Director Gerry Reynolds said: “It might be a new programme but I believe that Operational Excellence will be widely adopted by industry. It affords companies an opportunity to put together a comprehensive business plan that really can transform businesses. The application process is really no more difficult than previous programmes.

      “There has been some apprehension that some business are not ‘ready’ for OpEx but, in reality, what business is not ready for a comprehensive plan? Being all encompassing, OpEx can deliver a more coherent business plan. Some previous programmes could be somewhat fragmented and lack cohesiveness. I look forward to the experience of transforming and growing Takumi into a bigger, high tech, modern, Industry 4.0 factory.”

      Enterprise Ireland’s Operational Excellence offer provides the best possible support to companies that wish to transform their business. Not only does it systematically change the way work is performed, it enables companies to change the culture and mindset of how they do business. By offering more than one support option, it encourages managers to view the business in holistic terms and, as Takumi has shown, what business isn’t ready for a cohesive and comprehensive plan?

       

      Learn how Enterprise Ireland’s competitiveness supports can help transform your business.

      Abcon

      How Enterprise Ireland’s Market Research Centre helped Abcon to break new markets

      “You need to be constantly selling and expanding your customer base. You can’t depend on a particular country or territory or one big customer.” 

      Lyn Sharkey, Abcon Sales and Marketing Director

      Overview:

      • Sector: Design and Manufacturing
      • Markets: Germany, France, UK, Nordics, Eastern Europe
      • Supports:  Enterprise Ireland’s Market Research Centre
      • Goals: To increase exports to mainland European countries
      • Challenges: Abcon needed help identifying and accessing people in key EU markets
      • Results: Abcon has transitioned from  a company whose exports were almost all to the UK to trading in multiple European markets

      Case Study: Abcon

      A decade ago, the UK was effectively Abcon’s entire export market, says Lyn Sharkey, the company’s Sales and Marketing Director. While Abcon had focused on increasing exports to other markets over the past ten years, Brexit accelerated its efforts.

      Abcon

      Working with Enterprise Ireland’s Market Research Centre helped Abcon to pinpoint new markets with the potential to grow the business and to gain expert insights into how to compete in them.

      Based in Cootehill, Co. Cavan, the Abrasives and Industrial Hose Manufacturer currently employs 155 people. Its Industrial Hose Division markets its goods under the CavMac brand, which Abcon acquired in 2007 and serves sectors including oil and gas, mining and aggregates, food and beverage, and portside services and dredging. The Abrasives Division serves totally different sectors including stainless steel fabrication, joinery, aerospace, and automotive. Exports are hugely important to both.

      A number of Market Research Centre supports helped Abcon to increase exports to European countries. These included independent and reliable information from blue-chip providers, such as Gartner, Frost & Sullivan, Mintel and others, databases of potential leads and prospects, guidance on the right trade events to attend, and in-market knowledge. 

      Sharkey emphasised that obtaining such information would have been much more difficult without the help of the Market Research Centre.

      With a high volume of sales driven by internet searches, accurate information about the names of products in local languages is essential to underpinning successful international digital marketing tactics. Assistance with learning how its products are described in the languages of key overseas markets proved to be one of the most useful services.

       

      Support for moving beyond the UK as your sole export market

      Long before Brexit made diversification a matter of urgency, Abcon understood that relying on a single market, or a small number of large customers, was a risk. Sharkey says, “We are very conscious that, over the years, some customers for whatever reason come and go. You need to be constantly selling and expanding your customer base. You can’t depend on a particular country or territory or one big customer.”

      While the opportunity to enter new markets is one every ambitious Irish company should consider, authoritative market research is critical to such business decisions. With support from the Market Research Centre’s information specialists, Abcon realised that a strategy of increasing exports to countries beyond the UK would help the company to grow and diversify the business. 

      Over the last ten years, we have been steadily growing export sales to territories outside the UK, because initially the UK was our only export market.” explains Sharkey.

      The UK, nevertheless, remains an important market for Abcon, accounting for 27% of turnover.

       

      Dipping into Deutschland

      In recent years, Germany has become an important market for the business. Sharkey offers some advice for other Irish companies aiming to increase exports to the Eurozone’s largest economy: “Know who your target customers are. You have to visit them, attend the shows. We recommend staying in touch with the Enterprise Ireland office in that territory because they can let you know about appropriate events to attend and give you an insight into how that market operates. At International Markets Week, the team told us about events they host, to which companies backed by Enterprise Ireland can invite potential customers. It’s all about relationships at the end of the day. You need to get in front of the customer and understand what they need.”

      Germany is not Abcon’s only European market. Its CavMac division engages in significant volumes of business across the Nordic countries. Other important markets include the Netherlands, Italy, France, and the Czech Republic.

      While none of these markets are primarily English speaking, Abcon’s experience has been that the need to hire staff with native language skills varies depending on the territory.

      In central and eastern Europe, where English isn’t as widely spoken, it’s definitely helpful that we have Russian, Polish and Latvian speakers in our company.” says Sharkey.

      The Market Research Centre helps companies backed by Enterprise Ireland to explore opportunities and to compete in international markets. If your company is considering breaking into new markets, struggling with Brexit or dealing with thorny strategic issues, the Research Centre’s extensive resources and expertise should be your first port of call.

      Sharkey strongly recommends that companies similarly positioned take advantage of this support, concluding: “I definitely would. First of all, it’s a free service to client companies. You’re not paying for lists that may be out of date, as can be a risk elsewhere. Their information specialists work to keep them updated and the searches are quite versatile. The support you receive from the Market Research Centre is really helpful. The team can help you to understand and refine the searches. They want to make sure you go away with a meaningful list. Their customer service is really good”.

       

      Key takeouts:

      • Working with the Market Research Centre helped Abcon to find new markets and to decide how to compete in them.

      • Supports accessed included independent and reliable information from blue-chip providers, such as Gartner, Frost & Sullivan, and Mintel, databases of potential leads and prospects, guidance on the right trade events to attend, and in-market knowledge.

      • Help with learning how its products are described in languages of overseas markets was one of the most useful services received.

      Read more on the supports available to help your business diversify into new markets or speak to your Development Advisor today.

      Cubic Telecom is Helping Germany’s Biggest Carmakers to Drive Forward

      “Enterprise Ireland is always extremely helpful in terms of providing meeting space and setting up partner meetings, finding out beforehand who we want to make contact with and enabling those briefings at the show.” Gerry McQuaid, CCO Cubic Telecom

      Overview:

      • Sector: IoT
      • Markets: APAC, China, Europe, USA, Canada, Australia, New Zealand, Middle East
      • Supports: Trade Missions & Events, International Office Network

      Case Study: Cubic Telecom

      In an always-on world where consumers expect instant access to information and experiences, car manufacturers are clamouring to ensure that 24/7 connectivity is provided behind the wheel — and Dublin-based Cubic Telecom is supplying the solution.

      Cubic’s global connectivity platform PACE enables cars and other devices to automatically connect to high-speed local mobile networks around the world. The company is a fully licensed mobile services provider powering high-quality connectivity worldwide for global manufacturers, including six brands within Volkswagen Group, e.GO Electric Vehicles and Panasonic Automotive, among others.

      Not to mention, Cubic’s connected car solution supports 2.5 million cars in 93 markets globally, with capabilities across Europe, North America, Latin America, the Middle East, Russia, Africa and Asia-Pacific.

      “Our focus spans wider than the Irish market,” reveals CCO Gerry McQuaid, who has been part of the Cubic Telecom team from its beginning in 2009. “Obviously we support the sale of our partners’ products in Ireland but we are focused on the global market and we have had that global focus from the start.”

      But scaling internationally requires more than identifying a global customer base and Gerry says Enterprise Ireland’s assistance has been critical in helping Cubic to forge strategic partnerships every step of the way.

       

      Powering global connections

      When Cubic Telecom made its first foray into the international market, it was with a SIM card that let travellers make low-cost phone calls from anywhere in the world without incurring huge roaming charges. But the company soon switched gears to focus on creating technology that would connect any device to the internet while abroad and in 2012 took part in a major trade mission to China, helmed by Enterprise Ireland and then Taoiseach Enda Kenny.

      “Enterprise Ireland helped to arrange private meetings in China with the Taoiseach which gave a fantastic boost to our fledging profile in China,” Gerry says, noting that the trip ultimately helped to cement our business relationships with Qualcomm, Lenovo and China Unicom.

      At the same time, demand for vehicle connectivity was on the rise. Automakers wanted to transform cars into infotainment centres on wheels and Cubic Telecom’s technology, which is embedded at the manufacturing stage, could enable standardised vehicles to offer connected services anywhere in the world.

      “We’ve always attended MWC and exhibited as part of Enterprise Ireland’s pavilion stand. That’s where we meet our customers, prospects, mobile operator partners, technology partners and important industry analysts every year,” Gerry says. “We are delighted with the support provided to us by Enterprise Ireland in regard to exhibition stand facilities and the arrangement of key meetings ahead of each event.”

      Cubic’s first auto contract was with German car giant Audi, which was looking to provide its drivers with a fully digital experience — something that traditional mobile operators were struggling to achieve.

      “We were delighted to partner with the leading automotive brand within Volkswagen Group and this partnership has been an intrinsic part of developing our business success in Germany,” Gerry says.

      As a result, Germany is one of Cubic’s biggest overseas markets.

      “It’s important to point out that we did not select Germany as a generic target market,” Gerry says. “Instead, we looked at the world’s biggest automotive manufacturers and decided which companies we wished to build a partnership with. This naturally led us to Germany, the home of some of the world’s top auto manufacturers. We were very careful to take the time to understand what is required to do business successfully with large prestigious German companies and we had excellent support from the Enterprise Ireland team in Germany.”

      Enterprise Ireland still works closely with Cubic Telecom to support its continued growth in other international markets.

      “As well as being part of Enterprise Ireland’s pavilion at MWC Barcelona annually, last year we participated with Enterprise Ireland in MWC Americas in Los Angeles for the first time. That proved to be a great success,” shares Elaine Murray, Cubic Telecom’s External Communications Manager, adding, “Enterprise Ireland is always extremely helpful in terms of providing meeting space and setting up partner meetings, finding out beforehand who we want to make contact with and enabling those briefings at the show.”

      Besides trade shows and networking opportunities, Cubic Telecom is often invited to sit on conference panels hosted by Enterprise Ireland, which Elaine describes as “integral” to the company’s exposure in foreign markets. Gerry agrees: “We’re always more than happy to participate because it’s a win-win situation.”

      Brazil, Brexit and beyond

      One of the next stops on Cubic’s path to world domination is Brazil, a notoriously tough nut for non-Brazilian car manufacturers to crack in terms of IoT connected device services.

      “We have received excellent advice from Enterprise Ireland to assist with setting up our local presence in Brazil,” Gerry says. “Like in Germany, we align ourselves with the markets that our customers have prioritised. As all of the world’s major automotive companies want to sell connected cars in Brazil, we prioritised establishing a unique locally compliant solution for global automotive and IoT companies there.”

      Speaking of complicated, while the UK is not a dominant market for Cubic, it is an important one for many of the company’s customers.

      “If you’re driving on the motorways in the UK, most of the cars are German-built cars, so Brexit does have a concern for us in terms of what’s going to happen to the ease of doing business but we’re not as exposed as other companies because we are used to dealing with complicated market conditions around the world,” Gerry says.

      His advice: Irish companies must reduce their dependence on the UK market, regardless of the Brexit outcome.

      “Any Irish company that’s trying to do business in overseas markets has a very valuable resource that is always there to help in Enterprise Ireland,”

      “Start by considering the needs of the customer you are selling to, what solution you are selling, who you need to sell it to and what markets those target customers are in. Then leverage the Enterprise Ireland regional offices to get introductions to the people in that market who you need to meet.”

      Read more on the supports available to help your business diversify into new markets or speak to your Development Advisor today.

       

      How France Became Mullan Lighting’s Biggest Export Market

      Mullan Lighting has come a long way from its humble beginnings in traditional pub and church lighting. Revenues are expected to reach over €5 million by the end of 2019 and the main reason for Mullan’s growth is that it exports 80% of what it manufactures.

      Edel Treanor, Mullan Lighting, Marketing Director

      Overview:

      • Sector: Design & Manufacturing
      • Goals: To double the company size, to get the factory operating at full capacity, and to create long-term employment for local people.
      • Challenges: Mullan wanted to start exporting new markets but needed help identifying potential opportunities.
      • Results: In just six years, Mullan’s annual revenue has increased from €100,000 to €5 million — 80% of which are exports.

      Case Study: Mullan Lighting

      Mullan Lighting’s Bright Idea

      Monaghan-based Mullan Lighting has designed and manufactured bespoke solutions across the commercial, hospitality, retail and residential sectors, counting everyone from Caffe Nero and Costa Coffee to global multinationals Google and LinkedIn as clients.

      Founded in 2009 by architect Mike Treanor, the company now employs 65 people in its manufacturing facility inside a former shoe mill in the heritage village of Mullan. It sells in more than 55 countries worldwide and expects to reach over €5 million in sales by the end of 2019. But it wasn’t plain sailing from the start.

      “For the first couple of years, it was a lot of groundwork — Mike was on the road, knocking on doors — and very little return. We knew we had to start looking further afield,” explains Edel Treanor, Mullan’s marketing director, adding, “The economy in Ireland wasn’t great at the time and there weren’t that many projects happening — and for those projects that were happening, we were already getting the majority of the work but it wasn’t enough to sustain the business.”

      That’s what prompted Mullan Lighting to become an Enterprise Ireland client in 2013 and their goal was three-fold: to double the company size in three to five years, to get the factory operating at full capacity, and to create long-term employment for local people. Achieving this would require stepping into new markets — and Enterprise Ireland’s support ensured that Mullan put its best foot forward.

       

      Spotlight on France

      “It’s much easier to talk to your neighbours than it is to talk to someone who’s in Dubai or Australia so we knew that if we targeted regions close to Ireland then we could be there quickly and we could respond to queries quickly,” Edel shares.

      Working closely with Enterprise Ireland’s Market Research Centre, Mullan identified France as the best Eurozone market to enter. Specifically, when the company developed a new children’s lighting range aimed at high-volume retailers, the MRC determined the market size for such products in France, highlighted key prospects to target and suggested trade fairs to attend.

      As Edel says, focusing on France made sense: “Maison & Objet takes place in Paris and that’s one of the largest trade shows and markets for sourcing interior design, furniture and lighting products. Plus, Paris is seen as a design capital of the world,” she points out.

      With the help of Enterprise Ireland’s Internationalisation Grant, Mullan began to dip into the French market help. The company attended Maison & Objet in 2013 to scope out their competitors’ strengths and weaknesses and hone their own value proposition — and soon their bespoke lighting creations were lighting up hotels and restaurants all over France.

      “It took us about two years to really be comfortable in the market,” Edel reveals, noting that Enterprise Ireland’s support has been instrumental throughout the process, from setting up meetings with agents when they first entered the market to putting them in touch with Irish businesses who were already well established in France.

      “Those [established] businesses gave us feedback on our marketing materials, our company presence, our distribution plan — everything. As a new brand entering the market, that insight was invaluable.”

      Edel Treanor, Mullan Lighting, Marketing Director

      Expanding into France also meant a website refresh and Enterprise Ireland’s Business Process Improvement Grant helped Mullan to make their online presence more user-friendly and appealing to the market.

      “We also realised that we needed someone on staff who could speak to the client in their language so in 2015 we hired our first full-time native French speaker to help develop the market for us,” Edel adds.

      Mullan is on track to do around €800,000 in sales in France this year. To ensure the company hits that mark and continues its growth trajectory within the market, several clients — and one prospect — recently travelled to Mullan Village as part of an Enterprise Ireland inward buyer visit.

      “We figured it would be really good to show them exactly what we do and how we do it,” Edel says, adding that the visit included a trip to Castle Leslie to see some of Mullan’s creations up close as well as to the iconic Cafe en Seine in Dublin, the company’s largest bespoke project of 2018. “No one recognised any of the lights because they’re not in our catalogue and it was great for the buyers to see the level of bespoke work that we can do.”

      Needless to say, the trip was a success: Mullan has since received orders from each of the visiting buyers, even the prospect.

       

      Next steps in Mullan’s growth journey

      Mullan Lighting has come a long way from its humble beginnings in traditional pub and church lighting. Revenues are expected to reach over €5 million by the end of 2019 — a massive increase from its first-year turnover of €100,000 — and the main reason for Mullan’s growth is that it exports 80% of what it manufactures.

      “Our business has absolutely been driven by international sales,” Edel says, noting that in addition to France, the UK, Germany, the Nordics and Iceland are Mullan’s other big markets.

      “About 25% of our business goes to the UK, which is a significant amount, so we took part in Enterprise Ireland’s Brexit readiness programme and got advice from a consultant on what measures to put in place to mitigate the risk of what might happen if there is a hard Brexit.”

      As Mullan is only 200 metres from the Ireland-UK border, part of that action plan included creating a UK company and setting up a base in Northern Ireland.

      “If we can export to ourselves five miles up the road, hopefully we will inherit any customs delays instead of passing them on to our customers,” Edel explains, adding, “We’ve also identified hotspots where our UK clients are based and are considering opening another premises over there.”

      Additionally, the company is hoping to further its presence in Germany and the Netherlands.

      “We’re looking at markets that are nearby and have a lot of projects going on, with styles that are similar to what we can develop and manufacture,” Edel says. “The model and approach we’ve taken with France has really worked for us. We see that as something we can replicate in the German and Dutch markets with Enterprise Ireland’s help.”

      Read more on the supports available to help your business diversify into new markets or speak to your Development Advisor today.

      Transport & Logistics Industry Update – Webinar


      The Covid-19 pandemic, Brexit and the re-shaping of transport routes brought a very turbulent start to 2021. Logistics and transportation companies involved in the movement, storage and flow of goods have been directly impacted and had to rapidly adapt to changing business landscape. Irish companies exporting their products or importing components or raw materials need to follow and understand these trends to stay competitive.

      This Enterprise Ireland webinar identifies these challenges and examines current developments with a panel of industry experts.

      The webinar is chaired by Enterprise Ireland’s Director UK & Northern Europe Marina Donohoe with insights from:

       • Gopal R, Global Leader, Supply Chain & Logistics, Frost & Sullivan

      • John Ward, Managing Director, Maurice Ward & Co. Ltd Ireland

      • Richard Nolan, CEO, Nolan Transport – Nolan Group

       

      Register now to attend the webinar.

      Agile support allows LaserTec KnightOwl to take flight

      Basil Cooney, Lasertec

      “We made the application for the Agile fund in early December of 2017, we got approved by early January and we were up and running in February.

      Basil Cooney, Managing Director and Founder, LaserTec.

      Key Takeouts:

      • Developing 3D technology meant breaking new ground for LaserTec and required a considerable amount of R&D. LaserTec contacted Enterprise Ireland about support for an R&D project around their plans and were advised to apply for the Agile Innovation Fund.
      • The Agile Innovation Fund application process made it much easier and quicker to configure what LaserTec needed and to get approval in a short time frame.
      • The new product has given LaserTec the ability to scale and solve multiple problems across multiple industries.

      Case Study: LaserTec

      LaserTec has always fostered a culture of innovation. Over 25 years in business, the Dublin engineering company has built an impressive reputation for excellence in electronic assembly tooling and process development. In particular, LaserTec has enjoyed outstanding success designing and manufacturing innovative test and automation solutions in the medical device and automotive industries.

      Sometimes, however, it takes that little bit of extra support for a company to take the next big step. For LaserTec, that moment came when they decided to look into adding 3D capability to their services.

       

      Focus on 3D gave LaserTec the power to scale

      Basil Cooney, Managing Director and Founder of LaserTec, explains: “We use 2D vision in our applications for testing and quality checking components and parts on the production lines of our customers, but we wanted to start looking at adding that extra dimension of 3D capability.

      “With 2D systems, you’re restricted in what you can measure – there’s X and Y but there’s no depth, so checking that certain components are in the right location, have the correct orientation, correct height is difficult to do. Also, our solutions are application-specific, so if you want to look at a different product or solve a different problem, you’re almost starting from scratch nearly every time because of the limitations of 2D.

      “Scanning in 3D, having that extra dimension of depth, might not sound like that big a difference but it’s huge. It can measure depth and do different applications for you without having to devise a new solution for each process.”

       

      Agile Innovation Fund helped LaserTec to break new ground

      LaserTecHowever, developing 3D technology would mean breaking new ground for LaserTec and would require a considerable amount of R&D.

      “We spent a year and a half just researching and looking at the different applications and the types of technology involved before we were able to say it’s possible for us to bring these applications across to our processes,” Basil says.

      LaserTec decided that they would need to develop both hardware and software: a 3D sensor that could be incorporated into manufacturing production lines, and an app for mobile devices that could process and relay the information from the sensor.

      This would mean a considerable investment, so LaserTec contacted Enterprise Ireland about support for an R&D project around their plans and were advised to apply for the Agile Innovation Fund.

      The Agile Innovation Fund offers up to 50% funding to a maximum of €150,000 in grant aid for projects with a total cost of up to €300,000. Designed to make it easier and quicker for smaller companies to access R&D funding, Agile has a fast turnaround time for applications that results in decisions being made in weeks rather than months.

       

      From application to project launch in two months

      “We made the application for the Agile Fund in early December of 2017, we got approved by early January and we were up and running in February. The application process made it much easier and quicker to configure what we wanted to get done and get approval in a short time frame.” Basil says.

       

      “We received €90,000 – 45% funding for our project. It allowed us to go and hire resources, additional staff, to develop the product. We wouldn’t have been able to do that without Agile

      Basil Cooney, Managing Director and Founder, LaserTec

       

      Developing the power to scale

      John Traynor, R&D Director at LaserTec, says that the goal for LaserTec is for the company to develop a product which, for the first time, can be scaled.

      “Technically, we’re very good at LaserTec but our problem was that we were doing a lot of custom solutions that couldn’t be scaled easily. There was a lot of commonality but not enough that you could really scale them.

      “Now we’re designing a product for a wider audience, one that can be used for many applications across a number of industries. Instead of developing a product to solve a specific problem for a customer, we will be putting intelligence into their machines and production processes with this technology, so that it can solve multiple problems across multiple industries.”

      “You’ll have the 3D sensor and you’ll use the app to tell it what to look for, and it will do just that. But that same sensor and same software algorithm can then be used very differently to scan, measure and provide guidance on a variety of other parts.

      The next step for LaserTec is to start testing their new technology, named KnightOwl 3D, with customers.

      John adds: “We’ve identified the market, done the research and have been developing the technology. The next stage will be to prove the technology, to engage with customers and get good insight into what their problems are and how we can solve those problems.

      “You can sit in an R&D lab until the cows come home but unless you’re out there talking with customers, you’re not really getting real insight into the problems they’re facing.”

      After 25 years, the desire to innovate and solve problems still burns brightly at LaserTec.

       

      Learn how the Agile Innovation Fund can support your R&D ambitions.

      Firefly puts best foot forward with Agile R&D funding

       

      “Without the Agile Innovation Fund, we just wouldn’t have had the capital to get the ball rolling on our R&D project. The funding has been central to streamlining our in-house processes and developing the app.

      Conor Lynch, Marketing and Sales Lead, Firefly Orthoses

      Key Takeouts:

      • Firefly needed to streamline in-house processes and systems and invest in the development of new technology that would increase the speed and range of products they could supply.
      • Firefly recognised that support could help improve efficiencies and turnaround times by digitizing processes with the development of a bespoke solution.
      • Support from Enterprise Ireland’s Agile Innovation Fund is helping Firefly to reduce its reliance on third-party contract manufacturers, allowing the company to grow their margins while delivering faster turnaround times to customers.

      Case Study: Firefly Orthoses

      While success is what all companies strive for, it can also present challenges for a growing business. That was the case for Sligo company Firefly Orthoses, who, after 16 years had grown to employ over 20 people, designing, manufacturing and supplying custom-made foot orthoses. Its range of mostly UK customers included podiatrists, the NHS, sports clubs such as Liverpool FC and Chelsea FC, and British military Regional Rehabilitation Units.

      Firefly was founded by podiatrist Martin McGeough in 2003. Martin has close to 30 years’ experience in clinical biomechanics and orthotic therapy. During his career, he has provided podiatric advice to a number of Premier League football teams, in addition to lecturing in podiatry at Trinity College Dublin and mentoring podiatrists internationally.

      Firefly needed to invest time and resources to improve their internal ordering processes. The company also wanted to develop new technology that would increase the speed and range of products they could supply.

       

      Agile innovation allowed Firefly Orthoses to leverage the potential of 3D printing technology

      Conor Lynch, Marketing and Sales Lead at Firefly Orthoses, explains: “The company had grown since it was founded around 2007 and we were solving in-house problems as they came along. We had a lot of short-term fixes building on top of one another. Our in-house order processing system was becoming quite complicated and we were working off multiple spreadsheets to record and document all our order processes. As staff numbers increased, these systems became almost unmanageable, so we needed a software solution to streamline all our in-house processes and systems.

      “We also wanted to harness the development of 3D printing technology for our customers, including creating an iPad app for our podiatrist customers to make it easier for them to scan and submit measurements and order products.

      “Currently, our customers capture their patient’s data, the shape of the foot, by creating a plaster of Paris cast or using a foam box. The podiatrist would then send the cast of the patient’s foot or the foam box with the impression of the foot and we would manufacture the products from that model.

      “Our products are already an exact match for the anatomy of each client, but there is tremendous scope for improving efficiencies and turnaround times by digitizing the whole process. We knew there were solutions out there and we also knew that we needed to research and develop a bespoke solution for our own needs.”

       

      Support from Enterprise Ireland’s Agile Innovation Fund

      Firefly looked at various grant schemes from different organisations before deciding to apply to Enterprise Ireland’s Agile Innovation Fund for support for their R&D programme in January 2018.

      The Agile Innovation Fund offers up to 50% funding to a maximum of €150,000 in grant aid for projects with a total cost of up to €300,000. Firefly was approved for 45% funding shortly after applying in January 2018. However, the quick turnaround of their application wasn’t they only advantage of Agile.

      Enterprise Ireland was able to tell us what was and wasn’t going to work in terms of the criteria for funding the project,” Conor explains. “We knew what we wanted to achieve, we knew what goals we wanted to arrive at, but we weren’t quite sure of the steps that we needed to take to get there, so having that support during the application process was really helpful.

      “Agile gave us a huge amount of control over how we wanted to spend the grant. We were able to hire a software developer and a research and development manager to lead the project. It made the pathway towards achieving our goals much clearer.

      Firefly is now beta testing their app and 3D printing prototypes. The final step will be bringing their products to full 3D printer manufacturing and the company is in discussions with large industrial 3D printing operations throughout Europe to find the most suitable partner.

      Firefly’s customer base is 90% in the UK and 7% in Ireland, with the remainder being occasional orders from places like Sweden or Spain. However, many of Firefly’s products have an extended turnaround time because they come from third-party contract manufacturers in Canada and the US. Conor says that this will change by moving to 3D printing, with significant benefits for both Firefly and its customers.

      He comments: “Agile funding is helping us achieve the goal of producing our own products and reducing our reliance on third-party contract manufacturers. This will allow us to grow our margins, while our customers will benefit from faster turnaround times. Before the end of the year we would hope to be printing products for customers

      “Over time, we also intend to develop novel design features within our product range that are not currently achievable using traditional manufacturing processes.

      “Without the Agile Innovation Fund, we just wouldn’t have had the capital to get the ball rolling on our R&D project. The funding has been central to streamlining our in-house processes and developing the app.”

       

      Learn how the Agile Innovation Fund can support your R&D ambitions.

      Business opportunities are heating up in Iberia

      Irish travellers visit Iberia in their droves – at least two million last year alone. But while we have long since exported our tourism to Spain and Portugal, the same cannot be said for Irish firms.

      Given the proximity of Iberia’s Eurozone neighbours, with a GDP five times that of Ireland and offering gateways to growing domestic markets, as well as to Latin America and Africa, Irish exporters should take a closer look.

      While Spain and Portugal joined Ireland, Italy and Greece as the hardest-hit economies during the crash, they have emerged, like Ireland, as reformed models showing above-average Eurozone growth.

       

      New opportunities in Spain

      Spain is the powerhouse of the peninsula with the country’s real GDP and job growth set to exceed that of the euro area for the fourth year in a row.

      With 10 times the population of Ireland, Spain is the much larger market opportunity with a GDP of €1.2 trillion and a 2019 growth rate forecast at 2.1% by the IMF. While unemployment remains high at 14.7%, in key sectors such as telecoms, banking, travel tech and services, it has a wealth of expertise, as would be expected from a country home to telecoms and banking giants Telefónica and Banco Santander.

      Spain’s logistics infrastructure is excellent, hosting two of Europe’s biggest airports in Madrid and Barcelona, while its 46 ports serve the Atlantic and Mediterranean, and its internal rail network is one of the most advanced in Europe. It has the digital infrastructure to match and ranks fourth in the world for e-government services.

       

      Spain’s business renaissance

      While the market has been perceived as more difficult to enter for exporters, this is changing as Spain continues to experience a post-crisis renaissance. Language remains a traditional barrier for entry, as does the country’s regional devolution, which poses challenges to marketing and product fits between areas.

      At Enterprise Ireland’s Ambition Spain and Portugal event in Dublin, delegates heard how exports of companies supported by the agency totalled €338 million last year. Spain is a knowledge-based economy, where services account for around three-quarters of economic activity, the conference heard.

      Irish firms may look to some of the strongest growing sectors, such as telecommunications, life sciences and agriculture. Telecoms is expected to grow to around €21 billion by 2022, with agriculture growing to some €27.4 billion.

      Opportunities are there for Irish firms with innovative solutions willing to put in the market research, Gedeth Network founder Juan Millan told attendees.

      “Irish companies are very well known for their innovation and their technology,” said Millan. “Consequently, we are very interested in Irish offerings in medtech, life sciences and fintech.”

      Exporters should be aware that Spain acts as a bridge beyond the Eurozone, thanks to longstanding trade links from its colonial past to Latin America.

      “It’s a good place to access decision-makers for firms in Latin America, as they have headquarters in Madrid and Barcelona,” he said. “And remember, Irish firms have great access to North America, the UK and Australia, which is equally of interest to Spanish firms. There is a natural synergy to be had and you should use this if you have activity in these markets as part of your negotiating position.”

      Tourism remains huge at more than €180 billion per year – half the GDP of Ireland – and offers opportunities to Irish firms in travel tech. “Think not only about the sun and sangria,” Millan said. “But all the solutions you can offer to that market.”

       

      Economic growth in Portugal

      Being the smaller neighbour has not stopped Portugal transforming into a high-income advanced economy with a high living standard. Its growth forecast at 2.2% for 2019 is ahead of the likes of Germany, with unemployment steady at 6.8%.

      The country’s major cities, Lisbon and Oporto, are the country’s major industrial hubs, with Lisbon accounting for banking and financial services, oil and gas and ICT hubs – and is now home to the world-class Web Summit founded in Dublin – while to the north there is a focus on manufacturing. Tourism is a valuable sector looking for travel tech solutions in a market centred mainly in the Algarve and expected to grow from around €22 billion last year to €27 billion by 2023.

      Like its bigger neighbour, Portugal’s colonial legacy sees strong trade links remain, offering gateway trade opportunities to not only Brazil but African markets such as Angola.

      According to Professor Jorge Sa, from the Swiss Business School, Portugal presents an untapped export opportunity to Irish firms worth around €3 billion. “There are great chances for firms working in pharma, organic chemicals, electronic equipment, essential oils, machinery and plastics,” he said.

       

      Enterprise Ireland supports for expanding to Iberia

      Accessing either market requires thorough research, and there are, of course, traditional barriers to entry such as mature supply chains and language issues, but there are a range of Enterprise Ireland supports to aid firms looking to future-proof their export sales including the Market Discovery Fund and GradStart, which provides up to 70 per cent of two-year salaries for graduates with relevant market language skills.

      In the meantime, Enterprise Ireland’s office in Madrid is ready to assist Irish companies with ambitions to be more than just tourists to Iberia.