30.09.09

Ireland’s growing number of internet related companies are set to receive a major boost to their growth development prospects with the launch today (Tuesday 29 September 2009) of the Internet Growth Acceleration Programme (iGAP). Developed by Enterprise Ireland in association with the Internet Growth Alliance (a business led initiative supporting the international growth of Irish e-businesses) this new Programme for high potential Internet companies will provide them with the tools and skills to develop and execute aggressive international growth plans and scale their business. Recruitment for the Programme, which starts in November, is now underway.

The focus of the Internet Growth Acceleration Programme is on Internet related companies with global growth potential and the ability to meet critical growth milestones. The Programme design is specifically geared to add significant strategic and business value to companies in both B2B and B2C markets with practical learning modules, support from implementation coaches, access to business advisors and industry networking. Industry experts and experienced Internet entrepreneurs will cover topics including monetizing the business, revenue models, marketing, customer acquisition and retention and preparation for funding - all key elements of a business strategy for growing Internet companies.

Speaking at the launch, Jennifer Condon, Manager of Enterprise Ireland’s Software Division, said:

“Enterprise Ireland’s new Software Strategy, as part of the Government’s Smart Economy blueprint, sets out to develop and grow a thriving set of high-value, innovative, research-intensive Irish Software companies. The aim of the software strategy is to position Ireland’s software industry to maximise its opportunities in the “New Software Economy”. This New Software Economy is driven by the growth of the Internet and changes in the software value chain. It is characterised by user demand for greater flexibility, global delivery and cost effective solutions.

“The Internet is providing opportunities for new business models as seen in Internet based start-ups and new delivery channels such as Software as a Service. These new business models favour flexible, innovative SMEs by giving them access to international markets via the Internet. The Internet Growth Acceleration Programme aims to position Irish Internet related companies to maximise their potential in this new market environment and is specifically designed to address the needs of innovative companies specifically those developing Web 2.0 type applications.”

Speaking on behalf of the Internet Growth Alliance* Colm Lyon, CEO of Realex Payments and founder of the Internet Growth Alliance said:

“The development of the Internet Growth Acceleration Programme is a great example of industry wide collaboration at work. All the stakeholders in the Irish Internet Industry believe in the opportunity and the global potential the internet has to offer Irish businesses. With all the relevant industry associations and some key business advisors working together we see the emergence of a very important building block – the iGAP. This programme will give Irish internet entrepreneurs access to worldwide and local expertise. It is comprehensive, focused and intensive in its construction. In addition it will offer Irish Internet Entrepreneurs the opportunity to meet and get to know many other people in the same industry – both experienced and emerging.

“The business advisors of the Internet Growth Alliance are delighted with the development and look forward to working with both Enterprise Ireland and the participating businesses as we identify and support Irish Internet businesses that will scale globally.”

This programme is a core part of Enterprise Ireland’s recently launched four-year strategy for the Irish software industry, which aims to drive the sector's revenues to over €2.5bn by 2013 by capitalising on changes in the global software market. Outlining the importance of the Internet sector in this strategy, Jennifer Condon went on to say: “Internet based businesses will form an increasingly significant part of Ireland’s Software sector. Enterprise Ireland is working closely with our industry partners, in particular the Internet Growth Alliance, the Irish Software Association and the Irish Internet Association, to bring about sustainable change and growth in the sector. This programme is one of a number of initiatives to support these Internet companies in their drive to develop their businesses and grow globally.”

Further information on the programme visit www.enterprise-ireland.com/igap or contact This e-mail address is being protected from spambots. You need JavaScript enabled to view it

NOTES TO EDITOR

More about the Internet Growth Alliance

*The Internet Growth Alliance (www.alliance.ie) was established by a consortium of Irish entrepreneurs in conjunction with the Irish Internet Association, Enterprise Ireland, the Irish Software Association, the Institute of International and European Affairs, Web2 Ireland and the Digital Hub. The mission of the Alliance is to accelerate the development of Irish Internet businesses and the Internet Growth Acceleration Programme is at the core of its strategy.

More about Enterprise Ireland’s Software Strategy

Enterprise Ireland’s Software Strategy was drawn up in consultation with industry and other Government agencies following a comprehensive market analysis carried out by international industry analysts IDC and Enterprise Ireland.

There are three key concepts in the strategy:

New Software Economy

This term describes the Internet environment within which companies are operating
This new economy was identified in research conducted on behalf of Enterprise Ireland by international industry analysts
The New Software Economy is driven by the growth of the Internet and changes in the software value chain.
It is characterised by demand for greater flexibility, global delivery and cost effective solution
The Internet is providing opportunities for new business models as seen in internet based start-ups and new delivery channels such as Software as a Service (rather than software through licence)
This shift is enabled by new technologies such as Open Source, Services Oriented Architecture (SOA), Cloud Computing, Semantic Web and Web 2.0.

Focus on clusters

• Ireland has developed strong software clusters where there is a critical mass of Irish companies.
• These include high growth areas such as financial software, telecommunications software and eLearning software.
• By helping the companies in a cluster to work together we can develop and brand the cluster to make a major impact in world markets.

Best Connected

• Ireland's software environment provides a uniquely supportive ecosystem witin which individual firms can thrive. A number of unique features differentiate Ireland from its competitors. These include:
  
  • Our significant multinational sector comprising leading global software companies that have invested in an Irish base
  • Substantial government investment in R&D in the third level sector through Science Foundation Ireland, Enterprise Ireland and other agencies
  • Specialist clusters
  • Young, skilled workforce
  • The global software value chain is becoming increasingly networked. Partnerships and collaborations predominate.
  • The Irish industry is already extremely well connected at home and abroad. By fostering further strong strategic links to channel development and marketing partners, to technology and platform providers, to multinationals and to research performers, Ireland’s software players can generate far greater scale and impact than their individual size would suggest.

Enterprise Ireland has developed a programme of action to deliver on the vision in collaboration with industry, academia and Government. The programme includes short term actions for early impact as well as medium term initiatives to bring about sustainable change and growth in the sector.

The Irish Software Industry – Some Facts

• The indigenous software industry today consists of over 700 companies employing almost 10,000 people*
• The sector grew over the past 20 years from minimal sales in 1986 to sales of €1.6bn and exports of €1.1bn in 2007 (Annual Business Survey of Economic Impact 2007: Forfas).
• Enterprise Ireland’s software client base consists of 500 companies of which 20+ are in the Scaling category.
• Exports representing 73% of sales (compared to the Enterprise Ireland portfolio average of 45%) are primarily to the UK and US
• The sector preforms strongly in terms of start ups, averaging 28 (2001-07)