The Guinness Enterprise Centre in the central Dublin has officially opened its 100,000 sq ft extension, following an investment of €10m.

The capacity increase adds two floors to the incubation centre, a 75% increase in net floor space with capacity for 760 people, and was funded by the Ireland Strategic Investment Fund; the Regional Enterprise Development Fund administered by Enterprise Ireland; Dublin City Council; Diageo; and Dublin BIC, which manages the facility.

The expanded space will enable the GEC to support 150 resident companies, up from 85, and the facility can now accommodate 220 co-working companies, up from 160.

Chairman David Varian said: “The newly-expanded space will give more entrepreneurs access to the supports, networks, learning and investment funds they need to scale globally. We are creating a global entrepreneurial super-hub that will give our startups every opportunity to become world industry disruptors.”

ISIF senior investment director Donal Murphy added: “This project is an excellent example of ISIF’s double bottom line mandate in action — a commercial investment, underpinned by the GEC’s successful track record, which is now set to deliver significant and ongoing economic impact."

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