Funding rises for Irish Start-Ups in Emerging Technologies

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TechIreland, a public database that went live last year, is led by Ms Bushnell, the former Dublin commissioner for start-ups. The initiative aims to provide a detailed portrait of Ireland’s start-up scene by mapping, tracking and showcasing innovation across the Republic. The organisation’s data differs substantially from alternative figures compiled by the Irish Venture Capital Association (IVCA), which was forecasting that €1 billion would be raised by firms here last year. Ms Bushnell reported to the The Irish Times that its figures do not include an estimated €350 million from services-based companies, multinationals that have a base locally and firms in the North. By contrast, TechIreland’s figures include €48.5 million from venture funds, government grants and pitch competitions that IVCA does not track. She added that rather than directly competing with IVCA, TechIreland sees itself working with the organisation to help it with data collection. The most active investors recorded in 2017 were Atlantic Bridge, ACT, AIBSeed Capital, Delta Partners, Elkstone, Growing Capital, Frontline Ventures and Suir Valley.