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IRELAND IS POISED to become a ‘springboard’ to the European market for venture-capital backed firms, according to KPMG.
An analysis of global VC trends from the consultancy firms found that the number of investments worldwide fell in the first quarter of 2017.
Just over 2,700 deals were completed globally during the period, compared to 3,200 in the last quarter of 2016. The value of the deals completed rose to $26.8 billion.
Venture capital activity across Europe also cooled slightly during the first quarter of 2017.
While deal value in Europe remained fairly steady, with $3.4 billion invested during the three-month period, deal volume slumped to a five-quarter low of 565.
However, there was good news locally, as the report noted that Ireland was set to take advantage of the UK’s decision to leave the European Union and become an increasingly important market for investors looking to move into Europe.
Springboard
Partner at KPMG Ireland Anna Scally said that Dublin “is increasingly being chosen as the European headquarters for multinational companies and growing firms.”
“Other companies, especially in Ireland’s strong fintech market, increased operations and added headcount throughout the first quarter,” she said.
“Brexit is certainly a factor in this trend and is well-positioned to serve as a springboard to the vast European market. Ireland’s straightforward tax regime and strong tech talent base are motivators.”
The report also found that new data protection rules due to come into effect in the middle of May “will also be able provide a consistent data protection framework, an important factor for firms that hold significant banks of customer data”.
Irish-based tech companies raised record levels of funding last year.
The results indicated that there is a growing appetite in Irish-based tech companies from international investors, with overseas venture capital firms accounting for more than half of the funds raised.
Early stage funding
Some Irish companies still struggle to secure finance, even though the presence of Enterprise Ireland means that many are able to net some amount of early seed funding.
However, startup-industry figures are hopeful that a raft of new funds targeted at small companies will help address this issue.
KPMG highlighted Frontline Ventures’ new €60 million seed and pre-seed fund, announced in February, as being “expected to provide a stronger local capacity for early-stage funding” in its report.
ACT Venture Capital and a new outfit, the Waterford-based Suir Valley, have both announced fresh VC funds so far this year.
Written by Paul O’Donoghue and posted on Fora.ie
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this whole “my bill is bigger than your bill” malarkey is pathetic.
I read as far as the first line of the Green Party bill (after the definitions).
It says “No person shall sell or manufacture products containing micro-beads or add micro-beads to cosmetics, soaps or similar products.”
the rest is just clarification on this ban and how to monitor it.
what more do we need?
@stopit: “Billy waving” i think is what they call it ….
Don’t know why this is taking so long and FF attitude is appalling. Must be because the lizards use the microbeads to get rid of loose scales.
The only reason these exist is because of marketing… plenty of natural exfoliants, silicon, quartz, cellulose that are just as effective. But they just don’t look as attractive as bright blue or orange in the animated representation of the product in use during ads and give it that something extra to make it seem different.
True, and there’s absolutely no doubt that when these were dreamed up by some marketing genius, they were fully aware of the completely pointless environmental destruction they would cause. And they did it anyway. Ban them immediately. Then introduce “more robust” legislation later.
I wouldn’t give marketing execs that much credit, microbeads are far cheaper to produce than exploiting natural exfoliants; environmental impact is often overlooked when taking an existing material in a new application. BTW, unless you’re work in Intel or something I think you mean Silica ;)
Typical FF new politics my arse
FF – “Oh gosh no, we can’t make a decision for ourselves! Lets wait and see what Europe tells us to do”
@William Roche: You mean Merkel lol.
What a bunch of lies FF are telling the greens bill is as comprehensive as it’s possible to be more so than most countries that have enacted bans. The only sense it is restrictive is restricting the further pollution of our Environment pity FF don’t seem to value that.
Surely this should be a worldwide thing if not an EU thing to get this excess plastic out of the environment?
What sort of conscience do these manufacturers have to make this stuff in the first place
***Profit***
Those coffee pods are also an environmental time bomb that nobody talks about!
@Philip Kenna: Who cares about the environmental impact? George Clooney’s gawjus…
The ban should be at European level , you can exfoliate just as well with shower gel and salt or oil and salt mixed together .
Here’s an idea d1kheads in the oireachtas. Why not sit down together and draft legislation that will work instead of the usual one upmanship..
Manufacturers don’t need time to adapt, just stop putting that shit in their products.
Boycott them all until they remove the beads
Shame on Ireland
When will they discuss puppy farming and animal abuse???
I am more worried that something that goes down thee same hole as my faeces and urine ends up in rivers and seas.
Great to see our political parties tackling the urgent, important issues.
@Daisy Chainsaw:
I sense sarcasm, maybe if you took time to understand the issue and the incremental effects these beads can have over time you’d see it as an important issue worthy of government time. You might also see that what’s being reported is a snapshot of why ordinary citizens are disgusted with politics.
@Daisy Chainsaw:
Couldn’t agree more!!!
This is an important issue
@Daisy Chainsaw: It is killing the wildlife that other wildlife feeds on, it is polluting our environment and killing wildlife.
A bulking agent to make a profit on goods, god knows what they are made from but they end up in the rivers and sea as well then in the wildlife.
The type of plastic used in them might effect the hormones in wildlife and in people as I do not think they care what the plastic might be made from. Can you imagine if it was recycled farm plastic waste lol.
I think salt would be better for you than these plastic beads?
Why would they do that?
Darn we’ll be sweating beads of plastic sweat.
I am SO angry about that political fudging. Microbeads are getting into the food chain via seafood/fish. They were recently found in Plankton. No debate, they are a known toxin. Big pharma HAVE to stop their production NOW – end of.
Would some one please tell the Greens to politely F off. They did nothing in power they will do less put of it
have your say