Ireland is a Global hub, where top international companies locate their headquarters. The Irish entrepreneurial and business ecosystem is in a strong position. According to Professor Roy Foster, the cause for the success was a combination of ‘a new sense of initiative’ and factors such as low taxation, pro-business regulatory policies, and a young, tech-savvy workforce.

Dublin is acknowledged as being home to some of the best accelerator and incubator programmes in Europe.

Such initiatives as Enterprise Ireland or Furthr support high potential startups that are developing innovative, export-orientated products and services. Irish state offers some generous tax initiatives to encourage ambitious and innovative companies to set up shop in Ireland.

As well as a low corporation tax rate, startups can claim further reliefs for the first three years of trading. There’s also R&D tax credits of up to 25%, tax deductions related to intellectual property and the Employment Investment Incentive for those who finance certain startups. These incentives attract many entrepreneurs and are key to nurturing Dublin’s startup ecosystem.

What is important in the context of the ExcellEnt project is  the collective understanding in the Irish society of entrepreneurship as an individual person’s or a group’s creative capacity to identify an opportunity and pursue it in order to produce new value or economic success.

Consortium members from Ireland consider as must-read athe Irish government report of the SME Taskforce on ‘National SME and Entrepreneurship Growth Plan’, published in August 2021. It includes recommendations and calls for actions that are highly relevant especially as economies in EU and globally continue to face challenges.

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Read the full SWOT Analysis of Irish Entrepreneurial Ecosystem to understand the strengths and weaknesses in fostering new ventures. ExcellEnt’s SWOT Analysis examines the dynamics of entrepreneuria ecosystems in six European countries (Greece, Turkey, Bulgaria, Ukraine, France, and Ireland). It presents detailed SWOT analysis of each country to understand their strengths and weaknesses in fostering new ventures.