The four Irish business innovation centres (BICs) engaged with more than 1,000 new clients from 2022 to 2024.
BICs support start-ups in accessing funding, mentorship and specialised resources, and they themselves are supported by Enterprise Ireland and the Department of Enterprise.
The four Irish BICs are AxisBIC (Clare, Cork, Kerry and Limerick), Furthr (Cavan, Dublin, Kildare, Louth, Meath, Monaghan and Wicklow), Propelor (Carlow, Kilkenny, Laois, Offaly, Tipperary, Waterford and Wexford) and WestBIC (Donegal, Galway, Leitrim, Longford, Mayo, Roscommon, Sligo and Westmeath).
As well as offering mentorship to innovative and scaling businesses, the Irish BICs provide support to early-stage companies applying to Enterprise Ireland for Pre-Seed Start Fund (PSSF) and iHPSU (innovative High Potential Start-Up) funding.
In addition, the BICs collaborate with Enterprise Ireland to deliver capability building programmes such as Prep4Seed, an investor readiness programme.
The inaugural Impact Report from the four BICs shows there were 143 successful Pre-Seed Start Fund (PSSF) applications from 2022 to 2024.
Two-thirds (68 per cent) of companies awarded PSSF funding nationally worked with the Irish BICs.
The report also shows that 59 per cent of companies awarded iHPSU status nationally worked with the Irish BICs and there were 157 successful iHPSUs applications.
“This impact report is important as it highlights the crucial role played by the Irish BICs in helping innovative start-ups to grow and develop into a successful enterprise," said Furthr's Martin Murray, chair of Irish BICs.
"The four BICs have been providing invaluable supports for more than three decades to start-ups right around the country.
"By coming together under the one umbrella, we are strengthening our message that our experienced mentors are on hand to help overcome all the challenges a new business faces.”
Conor O'Donovan, head of start-ups and entrepreneurship at Enterprise Ireland, added: “The four BICs have been providing specialised supports and services to start-ups for 35 years.
"Enterprise Ireland partners with the BICs to accelerate the growth and development of ambitious Irish enterprises on their journey to compete and scale internationally.
"This report highlights the dynamic ecosystem in Ireland for supporting innovative startups such as Ground Wellbeing, Assiduous, Tailr and ByoWave. We hope their success inspires others to contact the BICs for assistance with developing their business proposition.”
Photo: (l-r) Martin Murray, Furthr; Conor O'Donovan, Enterprise Ireland; Aidan Shine, PropelorBIC; Fionnuala Wall, AxisBIC and John Brennan, WestBIC. (Pic: Shane O'Neill, Coalesce)
