A Mason Hayes & Curran conference exploring tech company concerns found most tech companies believe that the terms demanded by investors are too ‘investor friendly’ while one in three are of the view that funders and investors of their business were not aligned on the funding and investment strategy.

The insight emerged from a poll of over 300 attendees at a Technology Conference organised by the law firm.

Corporate partner Anne Harkin commented: “What’s clear from today’s discussion is that there continues to be a good range of funding options available for tech companies in Ireland.

“There is plenty of capital available and waiting to be deployed, but for the right businesses. For investors, pragmatic growth plans for earlier stage companies and basic unit economies for later stage companies are both key.

“For companies and founders, finding investors who bring more to the table than money, and can be a real value-add in terms of expertise, is crucial.”

In Association with

The event’s equity and investment panels consisted of Huw Lloyd, Arma Partners; Alan Foy, VentureWave Capital; Colum Lyons, ID-Pal; Conor O'Sullivan, Atlantic Bridge; and James Ives of XOCEAN.

Three out of four attendees said they expect retaining talent and recruiting to be their biggest HR issues in the coming 12 months.

Just 11% expect redundancies to be the biggest HR issue they will face, with 13% identifying remote working as their main people challenge.

Melanie Crowley, Head of Employment Law & Benefits, stated: “It is heartening to see that retention of talent still tops the agenda for Ireland’s technology sector.

“We are in an unusual environment where rationalisation is taking place at the same time as recruitment in the sector, but the overall outlook for employment in the sector remains positive.”

TECHNOLOGY CONFERENCE POLL

What is the number one HR issue facing your company in the coming 12 months?

•           Retaining talent  - 44%

•           Recruiting – 32%

•           Remote working – 13%

•           Redundancies – 11%

Are the terms demanded by investors in 2023 too ‘investor friendly’?

•           Yes – 78%

•           No – 22%

Are the founders and the investors of your business aligned on the funding and investment strategy?

•           Yes – 67%

•           No – 33%

Would you use generative AI like ChatGPT in your business?

•           Yes – 71%

•           No – 29%

What area do you believe is most likely to be affected by AI in the future?

•           Legal services – 20%

•           Pharma & life sciences – 16%

•           Sales & marketing  - 36%

•           Transport & logistics – 15%

•           HR / recruitment – 13%

Photo: Anne-Marie Tierney Le-Roux, Head of FDI - Technology, IDA, Siobhan O’Shea, Director, Scaled Business Success (EMEA/APAC), Indeed, Hannah Cronin, Director, Employment Legal (EMEA, APAC, LATAM & Canada), Pinterest and Anne Harkin, Corporate Partner, Mason Hayes & Curran. Picture Conor McCabe Photography.