Women Entrepreneurs and Raising Venture Capital Funding – Webinar

 

Hosted by Enterprise Ireland and the Irish Venture Capital Association, this is the second “Women Entrepreneurs and Raising Venture Capital (VC) Funding” focuses on encouraging women-led companies to seek venture capital finance.

The purpose of this webinar is to support companies in all sectors and at all stages of growth that are seeking venture capital finance. There is a specific focus on encouraging and enabling women entrepreneurs to successfully raise VC finance.

It includes panel discussions with women funders and founders, which identifies and provides examples of successful fundraising strategies.

Recognising the under-representation of women in this space, the webinar is targeted at women-founders and co-founders in all sectors and at all stages of growth.

It provides a roadmap for women founders on their investment journey who wish to develop their investment skills and network with other women funders and founders.

    Managing people, driving performance - Implementing successful performance management practices

    Implementing successful performance management practices in the new workplace

     

    The Covid-19 pandemic has had a significant effect on the way we work in Ireland. We were suddenly thrown into an emergency situation, during which many of us had to work remotely.

    Thanks to the success of the vaccination rollout, we are now entering into the recovery phase of the pandemic. However, it’s clear that what’s normal in the world of work has shifted.

     

    Changed working practices

     

    Several surveys have indicated a strong preference by employees for continuing remote or hybrid working into the future, and many companies are now looking at how to make these new working practices sustainable into the future – both to attract and retain talent and to ensure that strategic goals are achieved. But with this change comes a number of challenges.

    “One such concern is how to drive employee performance to continue to deliver business results as we move into the new world of work,” explains Lola Ade-Onojobi, People & Management Specialist at Enterprise Ireland.

    “Pre-pandemic, performance management practices had already evolved significantly, and the pandemic only further accelerated this evolution. A sudden move to remote working, along with significant personal upheaval such as having childcare responsibilities during the day or looking after vulnerable family members, forced many employers to adjust their management and leadership practices to better support their employees during this time of uncertainty.”

    “Now that we are moving into a period of recovery, it is essential for companies to focus their efforts on building sustainable practices to support employee engagement, performance and, ultimately, business growth.”

     

    Implementing successful performance management

     

    To help companies implement successful performance management in the new workplace, Enterprise Ireland has launched a new guide in partnership with performance management experts ‘Our Tandem’.

    Entitled ‘Managing People, Driving Performance: A Good Practice Guide’, this is the latest in a series of guides for employers on navigating the post-Covid workplace and is free for all employers to download.

    “While recognising that performance management requires a tailored approach by every company, this guide provides valuable information, based on best practice and latest business theory, that helps employers rethink their approach to performance management,” says Lola.

    “The guide examines the evolution of performance management best practice over the years and how it has been affected by the pandemic. It also highlights the foundations of good performance management such as goal setting, check-in conversations, fluid feedback, performance reviews, and reward and recognition practices.”

    “Crucially, the guide provides relevant tips on embedding a strong performance culture within a company, on how managers can become coaching leaders, and on building communication to ensure that the changes are implemented successfully.”

    This is a practical guide, with templates that are useful for every company, regardless of sector, size or maturity, to identify the changes needed within their own performance management process and implement them successfully and sustainably.

     

    Supports to complement our performance management guide

     

    For Enterprise Ireland-supported companies, the guide complements a range of financial and non-financial supports currently available.

    “Non-financial support includes access to our e-learning platform (eiLearn.ie), which contains many articles, podcasts, videos and downloadable content on people management,” Lola says.

    “We also offer a range of financial supports such as business growth advisor and strategic consultancy grants, which contribute to the cost of engaging external consultants to help companies address business challenges. More details on these supports are available from your Enterprise Ireland Development Advisor.”

    It’s clear that every company must carefully examine the way in which they operate and ensure that it’s suitable for the new world of work – and to do this as soon as possible in order to maintain optimal performance and retain and attract talent.

    A key part of this, according to Lola, is enacting the right performance management framework, both for the company’s sake and to support employees during this time of change.

    “The benefits of a performance management framework are clear – for employee engagement, retention, team spirit and ultimately positive bottom-line results for the business.”

     

    Download Enterprise Ireland’s performance management guide here.

    Terence O'Rourke, Jennifer Melia and Leo Clancy at Enterprise Ireland Start-Up Showcase 2022

    Start-Up Showcase: Demonstrating Ireland’s strength in supporting entrepreneurs

     

    Events over the past few years have made the business environment challenging to navigate but have also presented some unprecedented opportunities for Ireland’s innovative and dynamic entrepreneurs.

     

    Enterprise Ireland’s aim to support start-ups

     

    In a rapidly changing world, innovation is vital, making it so important for Enterprise Ireland to nurture and support promising ideas and those who produce them.

     “We have a hotbed of talent and innovation in Ireland right now, so it’s more imperative than ever that our entrepreneurs are given the time, funding and advice to excel on a global scale,” says Jennifer Melia, Divisional Manager, Technology and Services Division at Enterprise Ireland.

    “At Enterprise Ireland, we aim to support and enable Irish businesses to lead in a changing world – and an integral part of this is those ambitious start-ups with innovative solutions to tackle global problems.”

     

    125 start-ups attend Start-Up Showcase 2022

     

    Our strength in innovation was recently demonstrated in Enterprise Ireland’s 2022 Start-Up Showcase, which was held in the Aviva Stadium on Thursday, 7 April.

    Making a welcome return in person – last year’s Start-Up Showcase was wholly virtual – the event was attended by the ‘Class of 2021’. This included 82 new High Potential Start-Ups (HPSUs), 43 approved Competitive Start Fund companies (CSFs) and representatives from each of the 32 New Frontiers programmes we supported during the year.

    This number was on a par with previous years; considering the difficult business environment in 2020 and 2021, this is testament to the resilience of Irish start-ups and entrepreneurs.

    Interestingly, and reflecting Enterprise Ireland’s commitment to supporting diversity in leadership teams, 24 of the 82 HPSUs and 16 of the 43 CSFs were led by female founders.

     

    Learning from other success stories

     

    “Investment and funding is only part of the recipe for success for a start-up,” explains Jennifer. “Learning from peers and those who have been on the starting and scaling journey already plays an important role in future success.

    As a result, this year’s conference element at Start-Up Showcase aimed to tackle two of the most important subjects for start-ups.

    The first panel focused on ‘Disruption and Customer-Led Innovation’. It featured Silvercloud Co-Founder and CEO Ken Cahill, Novus Diagnostics Founder and CEO Elaine Spain, and ACT VC General Partner John O’Sullivan.

    Centaur Fund Services Founding Partner and CEO Karen Malone, Kyte Powertech CEO Stephanie Leonard and Cubic Telecom CEO Barry Napier then shared their experiences on ‘Building a Strong Team and Funding for Scale’.

    The conference then ended with a keynote speech from LearnUpon Co-Founder and CEO Brendan Noud as his company, a HPSU from the Class of 2013, goes from strength to strength.

     

    Returning to an in-person Start-Up Showcase event

     

    Due to the public health measures, last year’s event was wholly virtual due to the ongoing Covid-19 pandemic. But this year’s was both live streamed and in person.

    “As the start-ups would have begun their journey during lengthy lockdowns and travel restrictions, this event, in many cases, was one of the first opportunities to meet such an influential group of people – as well as their peers – in person,” says Jennifer. “There was a real buzz in the air.”

    “In total, there were 500 attendees including representatives from the Irish start-up ecosystem, including VCs and other funders, State support agencies, strategic company partners and professional and financial services, Government departments, academics, business mentors and Local Enterprise Offices.”

     

    Innovation and resilience among the Start-Up Showcase Class of 2021

     

    As companies that formed during the second year of the pandemic, the ‘Class of 2021’ have shown innovation and resilience like never before. Proving that Ireland is the “go to” country when it comes to finding global solutions, these companies produced a number of solutions in many sectors, including digital health, fintech, medtech, software, sustainability and more.

    “The ‘Class of 2021’ is really impressive,” says Jennifer. “Take a look at Amnexis Digital Solutions, based in the Guinness Enterprise Centre, a digital health company that records patient data efficiently, therefore reducing the administration workload on hospital, homecare and nursing home staff.”

    And there’s more to come. Although we are only a few months into 2022, already the easing of restrictions has resulted in a renewed energy in Ireland’s start-up community.

    “Next year’s Start-Up Showcase is looking promising even now, with a strong pipeline of promising entrepreneurs with intriguing prospects making waves across Ireland, both first-time and repeat entrepreneurs.”

    The future has never been more exciting for Irish entrepreneurs to Lead in a Changing World.

     

    Find out more about Enterprise Ireland’s supports for High Potential Start-Ups or watch the recording of the Start-Up Showcase 2022 conference.

     

    graph with export data

    Using market intelligence to inform your export plan

    The saying that ‘knowledge is power’ is certainly true of successful exporting. Companies must understand their customers’ requirements, cultural considerations, market trends and what competitors in the market are doing, in order to succeed.

    Insights gained from high-quality market research are essential for good business decisions for companies with the ambition to grow, export and, indeed, survive. While successful products and services are built on sound market research, a continual process of keeping up-to-date with business intelligence is required, which can be time-consuming and costly.

     

    Market Research Centre

    That is one reason Enterprise Ireland’s Market Research Centre is such a valuable resource. It is the largest repository of business intelligence in Ireland and contains thousands of world-class market research insights, available to Enterprise Ireland supported companies.

    Reports include company, sector, market and country information, which help businesses to explore opportunities and compete in international markets. We use databases from blue-chip information providers such as GartnerFrost & Sullivan, Mintel and others, which provide authoritative, verified information that is independent and reliable. Some of these reports cost tens of thousands of euro individually, so the value of accessing the service is immense.

     

    Using market intelligence to assess new markets

    The Market Research Centre is staffed by eight information specialists who help clients locate the most appropriate sources of knowledge for their requirements. The specialists can track down niche market intelligence that is not available through internet research and can also facilitate access to industry analysts to provide bespoke briefings that deep-dive into subject areas.

    While the UK and European markets remain vitally important for exporters, increasingly diversification into more distant markets is a strategic option. Critical to all such business decisions is access to authoritative market research.

     

    Using insights to make an impact

    An example of how the centre helps companies to explore opportunities in overseas markets is workforce travel company Roomex. Over the last two years, the company has targeted the UK and Germany and is now looking at the huge potential of the US market. Information specialists helped the company gain valuable insights by providing access to global company, country, market and sector data which helped the Roomex to analyse their target customer and competitor base.

    Enterprise Ireland’s research hub offers access to extensive predictive research on future trends, which is invaluable for companies interested in innovation. Knowledge of what might impact a market next provides an opportunity to develop new products or solutions. There are huge opportunities arising from disruptive technologies, such as driver-less cars, but also risks to companies which are not looking ahead

    Growing your business

    Companies which are serious about exporting, growing and future-proofing their business should put continuous research at the heart of their strategy. If your company is considering expanding into new markets the Market Research Centre’s extensive resources and expertise should be your first port of call.

    Contact the Market Research Centre today.

    UK Water Sector: Trends and Opportunities 2022-2025 – Webinar

     

    In 2020 the UK water sector embarked on AMP 7, its five-year infrastructural spending cycle worth £51 billion. This sum covers a wide array of areas, from decarbonisation to digital, with plenty of opportunities for businesses across the supply chain to get involved in the sector.

    This webinar discusses the trends and opportunities in the sector across the regulator’s five key themes, as well as AMP 8.

    Topics discussed:

    • Environmental Protection

    • Carbon Reduction and Resilience

    • Digital Agenda

    • Customer Service

    • Collaboration and Innovation

    • Value for Money

    • The Future of the Sector and AMP 8

      Construction in the UK: A Guide to Legal Challenges and the UKCA Mark – Webinar

       

      In this webinar the speakers discuss some of the main legal and regulatory issues currently facing contractors, employers and suppliers in the construction sector across the Republic of Ireland, Northern Ireland and Great Britain.

      This webinar also discusses the UKCA mark, the new UK product marking that will replace the CE mark on 1 January 2023 in Great Britain and Northern Ireland. The UKCA mark will be required for construction products being placed in the market. We will also discuss the process of how to certify your products with the UKCA marking.

      Speakers Include:

      • Jamie Ritchie, Partner, LK Shields

      • Dominic Jones, Partner, Blake Morgan

      • Lisa Boyd, Construction and Procurement Lawyer, Gateley Tweed LLP and Gateley Legal

      • Robin Byrne, Head of UK Office, NSAI Certification UK

        Eoghan O Connor Enterprise Ireland

        The Nordics: Opportunities abound for ambitious Irish exporters

         

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

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

         

        The Nordic market

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

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

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

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

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

         

        Success for Irish companies in the Nordics

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

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

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

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

         

        Springboard to success

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

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

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

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

         

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

        The Level Project: Promoting gender balance in leadership teams

        The Level Project: Promoting gender balance in leadership roles

         

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

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

         

        What is The Level Project?

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

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

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

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

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

         

        Striving for better

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

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

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

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

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

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

         

        Introducing the Toolkit

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

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

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

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

         

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

        Designing the workplace of the future – A new guide for all employers

          The world of work was shaken to its core in March 2020 when the Covid-19 pandemic hit Ireland and hundreds of thousands of Irish workers had to suddenly work from home.

          The slow and steady drive towards digitalisation accelerated sharply, and virtual meeting programmes such as Zoom and Microsoft Teams became commonplace. Now, 15 months on, and with the vaccination programme well underway, employers can begin to think about a return to the workplace – hopefully permanently. But the many lessons learned during the pandemic has had both employers and employees thinking about the future workplace – will we ever go back to the way it was? And do we want to?

          Enterprise Ireland has produced a new guide, ‘Emerging Through Covid-19 – The future of work, which aims to help business owners think about the positives and negatives from the last 15 months and to use these to build a sustainable business model for the future. With many employees welcoming the idea of remote working into the future, either full-time or for part of the week, is it time for employers to recognise the positives of remote working and tie it into their company policy on a permanent basis? And if so, how can they make it sustainable?

          “This is a follow-on from last year’s Covid-19 employer guide; last year we looked at the health and safety aspects of returning to work, while the theme of this year’s guide is around the future of work,” explains Karen Hernández, Senior Executive, Client Management Development at Enterprise Ireland. “During Covid, the workplace has changed, the nature of work has changed for a lot of people, and what employees expect from their employers has changed. Our aim is for all companies to be prepared to put in place the right structures and practices that suit their business needs and also the needs of their employees.

          “A large portion of our client base experienced the need to rush into remote working when Covid-19 hit Ireland in 2020. There have been some advantages and opportunities associated with this; some businesses found they’re as productive, if not more productive when working remotely. This guide aims to help companies take what’s worked well over the last 15 months and create some sustainable practices and processes that work for everybody.”

          The guide was developed in partnership with Fredericka Sheppard and Joyce Rigby-Jones of Voltedge, a highly regarded HR consultancy based in Dublin. “The objective with the guide is that it gives you a framework to start developing your own plan for the return to the office,” explains Fredericka. “All organisations are going to have their own dynamic, their own set of circumstances, so there is no one-size-fits-all solution to this. Our aim was to identify key pillars for organisations to use to develop structure and a suitable framework for their business.”

           

          The importance of asking questions

          A huge emphasis is placed on the need for communication with employees when making these decisions. “Employers need to engage with and actively listen to their employees, while also driving their business forward,” says Joyce. “This is intended as a broad guide, where employers can pick and choose the relevant pieces to them.”

          “It’s very important that employees feel that they’re being heard,” adds Fredericka. “However, decisions need to be made based on a number of factors, and employee input is just one of those factors. Obviously it’s really important to manage expectations and sometimes it’s just down to how you ask the questions. Give them some context from a business point of view. It’s not just about the employees’ wish-list, it’s also about creating a sustainable workplace for the future.”

           

          Managing remote workers

          Many employers are looking at keeping some sort of remote or flexible working practices in place – and offering this flexibility can be very positive when it comes to attracting talent. “Almost two-thirds of our client base are saying they find it hard to attract, engage and retain talent,” says Karen. “Companies need to consult and stay close to their employees and ask them what they want – and include aspects like flexibility as part of a value proposition to attract candidates.

          “Many companies that we are working with are looking at some sort of hybrid model, where employees combine time working in the office and time spent working remotely, at home or in co-working spaces. There are huge upsides, such as accessing skills from different parts of the country that they never would have before – offering remote, flexible or hybrid working is attractive to employees.

          However, this can be difficult to manage, and companies need to consider what works for the team as a whole as well as what’s right for individuals within those teams.”

          “There’s a big need for management support and training, especially for middle and line managers and supervisors who are dealing with a remote workforce,” explains Joyce. “It’s difficult for them, but it’s important that they get it right. Ensuring your managers are confident in what they do, and in their engagement with their teams. We are hearing that companies are looking to bring their employees into the office more, but it’s about getting that blend right between remote working and the office. One aspect that we emphasised in the guide is the need to make sure you are not discriminating against employees who are not in the office environment.”

          Identifying and managing issues such as burn-out and isolation is essential if companies are to offer some sort of remote working policy. “Companies that have regular check-ins and meetings with staff and use different methods of communication, such as video calls, emails and direct messaging are more likely to keep employees engaged when working remotely.  It’s also important for employees to have individual focus time, where they are able to detach from colleagues and concentrate on getting their work done without interruption”, says Karen.  “Long term, we don’t know enough about hybrid working for a definite ‘best practice’ but instead companies should pilot different ways of working – for instance, we have some companies who are trialling a ‘team days’ concept – having the whole team in for certain days of the week, then for the rest of the week, they’re working from home.”

           

          Piloting the new workplace

          The aim of the guide is to pose those broad questions that will help employers in every sector decide on the right workplace for the future of their business – but there is no need to rush into a decision. “The biggest challenge for employers is making the decision as to how you’re going to handle this working environment,” says Joyce. “Are you going to fully return, are you going for a hybrid, can you facilitate a full return in the workspace that you have? Employers need to make very big decisions, and very strategic, long-term decisions, so we’re suggesting that they talk to their employees about what they want and then piloting whatever they plan to do before they make any strategic decisions that will impact on the business going forward.”

          Covid-19 has had a huge effect on how we work – but now is the time to use what we have learned since March 2020 to create a more inclusive, sustainable business model, one that pushes the business forward while creating a culture that values employees and their health and wellbeing more than ever before. This can only be a positive thing.

           

          To download Enterprise Ireland’s new guide, ‘Emerging Through Covid-19 – The future of work’, click here.

          A person gathering market intelligence by analysing graphs and statistics on a sheet of paper

          Using market intelligence to inform your export plan

          The saying that ‘knowledge is power’ is certainly true of successful exporting. Companies must use market intelligence to understand their customers’ requirements, cultural considerations, market trends and what competitors are doing, in order to succeed.

          Insights gained from high-quality market research are essential for good business decisions for companies with the ambition to grow, export and, indeed, survive. While successful products and services are built on sound market research, a continual process of keeping up-to-date with business intelligence is required, which can be time-consuming and costly.

           

          Market Research Centre

          That is one reason Enterprise Ireland’s Market Research Centre is such a valuable resource. It is the largest repository of business intelligence in Ireland and contains thousands of world-class market research insights, available to Enterprise Ireland supported companies.

          Reports include company, sector, market and country information, which help businesses to explore opportunities and compete in international markets. We use databases from blue-chip information providers such as GartnerFrost & Sullivan, Mintel and others, which provide authoritative, verified information that is independent and reliable. Some of these reports cost tens of thousands of euro individually, so the value of accessing the service is immense.

           

          Using market intelligence to assess new markets

          The Market Research Centre is staffed by information specialists who help clients locate the most appropriate sources of knowledge for their requirements. The specialists can track down niche market intelligence that is not available through internet research and can also facilitate access to industry analysts to provide bespoke briefings that deep-dive into subject areas.

          While the UK and European markets remain vitally important for exporters, increasingly diversification into more distant markets is a strategic option. Critical to all such business decisions is access to authoritative market research.

           

          Using insights to make an impact

          An example of how the centre helps companies to explore opportunities in overseas markets is workforce travel company Roomex. Over the last two years, the company has targeted the UK and Germany and is now looking at the huge potential of the US market. Information specialists helped the company gain valuable insights by providing access to global company, country, market and sector data which helped the Roomex to analyse their target customer and competitor base.

          Enterprise Ireland’s research hub offers access to extensive predictive research on future trends, which is invaluable for companies interested in innovation. Knowledge of what might impact a market next provides an opportunity to develop new products or solutions. There are huge opportunities arising from disruptive technologies, such as driver-less cars, but also risks to companies which are not looking ahead.

           

          Growing your business using market intelligence

          Companies which are serious about exporting, growing and future-proofing their business should put continuous research at the heart of their strategy.

          If your company is considering expanding into new markets the Market Research Centre’s extensive resources and expertise should be your first port of call.

          Contact the Market Research Centre today.

          People working at a co-working hub in the National Hub Network

          National Hub Network: Bringing Irish workplaces into a new era

           

          There’s no doubt that the Covid-19 pandemic has changed the world of work forever. While we’re not out of the woods just yet, slowly but surely we are all looking to recovery and what work might look like post-pandemic. And it’s looking like a whole new world for many.

           

          Designing a workplace for the future

          In 2021, Enterprise Ireland released a new guide, ‘Designing a workplace for the future’, which was written to help employers navigate their way into the new world of work, including remote/hybrid working and other more flexible forms of work.

          The guide recognised that company owners are now aware that offering a degree of flexibility has many advantages for their business in attracting and retaining talent, as well as for the Irish economy overall.

          However, most are still in the early stages of working out how these can be optimised within their own companies.

           

          The right to request remote work

          What’s more, the matter is becoming more urgent, thanks to the upcoming legislation on the right to request remote work. When enacted, it will act as a lynchpin for HR strategy and implementation.

          This legislation is due to come into effect in 2022, so it’s essential that every employer considers the best solution for their company sooner rather than later.

           

          The National Hub Network

          An integral part of the new world of work is the growth of the National Hub Network, which enables workers to carry out their jobs in a social space with excellent amenities.

          The networks also play a valuable role in driving vibrant regional economies across Ireland, as Clare Power, Enterprise Ireland’s lead on Regional Remote Working, explains.

          “These hubs are far more than just buildings for workers,” Clare explains.

          “They are part of the regional ecosystem, a go-to place for local start-ups through to established SMEs looking to grow and scale their businesses.”

          “These co-working hubs are a valuable contributor to a vibrant local economy, a wonderful opportunity for employees from diverse backgrounds who want to progress their careers outside of the big cities, and an important enabler for collaboration and networking across sectors and disciplines.”

          “In short, these hubs will play a crucial role in Ireland’s future of work landscape.”

           

          The evolution of co-working hubs in Ireland

          Co-working hubs existed before the pandemic. In fact, they were highlighted in Enterprise Ireland’s 2019 ‘Powering the regions’ plan.

          However, they’ve taken on a new level of significance since Covid-19 hit in March 2020.

          “There have been examples of successful co-working hubs already,” says Clare. “These include Dogpatch Labs and Guinness Enterprise Centre in Dublin, The Mill in Drogheda, Wexford Enterprise Centre, Merits in Naas, PorterShed in Galway and Ludgate in Skibbereen.”

          “Their success is down to their excellent facilities, including reliable wi-fi, excellent cybersecurity, access to the latest digital tools, meeting spaces and 24-hour access.”

           

          The Quality Standards Framework for the National Hub Network

          Recognising the importance of these hub networks to both regional development and Irish SMEs, Enterprise Ireland has led significant infrastructural investments initiatives on behalf of the Department of Enterprise, Trade and Employment.

          “We have a relationship with the Community Enterprise Association Ireland (CEAI) spanning two decades, and have supported CEAI as the co-ordinator of a world first, the development of the Quality Standards Framework for the National Hub Network, known as QHubs,” explains Clare.

          “The Quality Standards Framework aims to provide a world-class facility and service for enterprise at all stages of growth, enable hub owners and managers deliver excellent service to their users, and help the National Hub Network to work collectively towards future self-sustainability.”

          To help embed QHubs, CEAI launched a free preparatory development programme for enterprise hub owners and managers, delivered in partnership with Skillnet Ireland.

           

          Supporting co-working and remote working

          “Enterprise Ireland is also involved in many other initiatives to support the National Hub Network.”

          “These include Grow Remote, a not-for-profit agency working in the fields of networking, job market connection, community development and free nationwide remote training. Grow Remote has published a playbook to equip SMEs with the tools to successfully implement remote work permanently. We also point employers to the Western Development Commission-led ConnectedHubs portal in searching and sourcing for their ideal co-working spaces.”

          According to Clare, “it’s clear that regional hubs have a vital role to play as we slowly get back to ‘the new normal’.

          Perhaps the growth and development of these hubs – and the subsequent positive effect on our lifestyles, families and rural areas – will emerge as something positive to come out of the last two years of upheaval and change.”

           

          Download Enterprise Ireland’s ‘Designing the workplace of the future’ guide here.

          Neil Cooney

          Market Watch – A view from Canada

          Market Watch Canada Neil Cooney

          Key Takeaways

          • The public health response to Covid-19 in Canada was well informed by previously having dealt with the challenges caused by an outbreak of SARS in the early 2000s.
          • There were some challenges, and the Canadian government has been swift and efficient in offering support to businesses and citizens across the country.
          • Canada, like many jurisdictions, is seeing a resurgence of cases and borders are currently closed to mainstream traffic.
          • Remote working has seen many industries pivot to a new way of doing business.
          • Many sectors are moving apace and there is opportunity for Irish companies.

          Along with almost every country in the world, Canada has felt the effects of the pandemic, but Neil Cooney, Enterprise Ireland Country Manager Canada, says while a second wave is also taking its toll, there are some positive signs of growth.

          “The challenges of Covid-19 are significant and as a result, the Canadian government has committed extraordinary support to citizens and businesses during 2020 as economic activity is considered to be approximately 5% below February levels,” he says. “However the economy has seen four straight months of growth, as restrictions have been modified to support more of the economy coming back online.”

          “Of course, like many other jurisdictions, Canada is seeing a resurgence of cases, particularly in its main metropolitan areas – and borders are currently closed for most travellers. So those doing business need to look carefully at the limited set of exceptions which may apply (for critical infrastructure or in healthcare) – while most workers in government, banking, technology and professional services sectors continue to work from home.”

          Aside from the challenges of not being able to visit the market, meet customers and attend trade events, Cooney says another effect of Covid-19 has been that some pending projects were paused as companies reacted to the uncertainty, but this is beginning to change.

          “We have seen projects reignite in recent months as business priorities have shifted from crisis management or remote working challenges to an acceleration in digitalization and providing better experiences for customers and employees,” he says.

          “Pivoting to virtual has been an area of opportunity for many of the leading trade events and while they vary in format and cost, these events have reduced the barriers for Irish companies interested in learning more about trends and opportunities in Canada – which has always been challenging to do on a coast to coast basis as it is the world’s second largest country.”

          The move to remote working and distributed teams has pushed businesses to openly consider solutions from providers, which they will engage with online from start to finish.
          And according to Cooney, the manufacturing sector and supply chains generally have done well in overcoming the hurdles posed by the current global crisis.

          “Like many markets, the challenges of Covid-19 have accelerated change in many areas with companies and industries adopting new technologies,” he says. “This has represented an opportunity for Irish companies which offer innovative solutions in areas such as cybersecurity, remote working enablement and digital health.

          “And Canada recently announced investment of 10 billion (CAD) in infrastructure projects -through the Canadian Investment Bank – in energy, agricultural irrigation, connectivity, zero-emission buses, early construction works and buildings’ energy efficiency.”

          He says with the impact of the crisis on the energy sector, there has been an opportunity to focus investment on environmental mitigation of orphan wells, developing renewable energy and charting a cleaner, more efficient energy future.

          And the construction sector has continued its buoyant level of activity with an increasing focus on modular housing deployment and environmentally superior building technologies currently in demand.

          “In addition, Canada has continued to invest significantly in its public infrastructure, including a recent announcement supporting broadband provision– which at $1.75 billion represents the largest one-time federal investment in broadband.”

          Home to several world class clusters including the world’s third largest aerospace hub in Montreal, Canada is North America’s second largest financial services and technology cluster, leading capability in Artificial Intelligence technologies, and has a burgeoning technology sector.

          Toronto has the highest cluster of AI start-ups in the world and Montréal boasts the highest density of researchers and students of deep learning in the world. This has highlighted an opportunity for EI Canada to join the conversation with focus on Irish AI capable clients.

          But while virtual meetings have made it easier for companies outside Canada to explore new commercial relationships, there are certain factors which need to be considered.

          “Companies approaching the market often have to think region by region in sourcing distribution, identifying partners, winning customers and setting-up beachhead sales operations,” says Cooney. “And while doing this in-person has always been a challenge given the scale of the territory, the current reliance on virtual meetings has created more of a ‘level playing field’ for companies outside Canada exploring new commercial relationships.

          “But it is officially a bilingual country which means many products and services must offer English and French to participate in procurement or Request for Proposal processes. To this end, Enterprise Ireland has recently opened an office in Montreal to assist Irish companies in doing business in the region.

          “And while Canada is often seen as an excellent proving ground and valuable reference site for the wider North America market, it is crucial to display knowledge and responsiveness to the distinct needs of Canadian customers, local regulatory requirements and differences in business practice – something which definitely applies to the complex, multi-stakeholder buying processes we see in the Healthcare and Telco sectors.”

          However, the country manager says that Canadians prefer to work with companies which already have an established presence in the market.

          “Demonstrating local presence can be an important way to gain trust and to reassure potential customers of the availability of your on-going support,” he says. “Canada is a welcoming country when it comes to entrepreneurs, investors, and talent, including from Ireland, and is as a result attracting significant business to tech hubs such as Toronto, Montreal, Vancouver and Calgary. And during Covid-19, this may mean establishing a virtual presence and hiring locally in-market – which is readily possible given the ease of set-up in Canada.”

          To learn more about the steps companies can take to address the impact of Covid-19 visit our business supports page.