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11/03/2019
Enhanced Funding Access For Cross-Border Firms
Access to business finance is improving in both Northern Ireland and the Republic, according to a recent cross-border industry poll.
70% of entrepreneurs and investors surveyed at an all-island conference say access to funding has increased over the last five years, although investor readiness remains a significant challenge.
The statistics were gathered at the annual InterTradeIreland venture Capital Conference last week in Croke Park, Dublin. Over 400 entrepreneurs, venture capitalists, business angels and investors attended.
When asked about the main barriers to raising investment support as a start-up, 46% said investor readiness was a key challenge, while 38% cited a lack of access to suitable investors or funds as a hurdle.
Looking at the key attributes of raising finance or investing in a start-up, investors said an understanding of the process (26%) and confidence (25%) were most important. Over a fifth also pointed to technical capacity as a significant quality when considering backing a venture.
Speaking from the event, Margaret Hearty, Director of Programmes & Business Services at InterTradeIreland said: "Venture capital continues to be an increasingly popular route for businesses wanting to grow, with latest figures from the Irish Venture Capital Association (IVCA) reporting a strong rebound in the final quarter of last year, achieving its highest quarterly total of nearly €20 million. The number of options for funding is expanding year-on-year, so it's vital that companies have the right information to help them access these funds and are investor ready."
Chaired by broadcaster and journalist Mark Simpson, guests heard from a diverse line up of experienced VC experts including Investment Manager Deirdre Terrins from Crescent Capital who highlighted cyber security, digital creatives and big data as emerging venture capital areas. She said: "As cyber threats continue to grow, there is a need for big data and data privacy to be intrinsically linked to a company's security policy. This is a growing area of expertise in Ireland and we see it representing a huge opportunity for budding entrepreneurs, with interest from investors."
Steve Collins, a Partner at Frontline Ventures, outlined the practicalities of what investors look for, from pre-seed to IPO stage. Emphasising the importance of building contacts, he advised that in his experience, networking recommendations is the best way to secure funding as there is established trust and expectation. He said: "In my experience, only 1% of deals secure funding out of an average of 1,000 pitches, and none of these come from a cold pitch. Establishing and growing a trusted network is vital."
Also speaking at the event, Dr Vincent Power, a Partner at A&L Goodbody provided the audience with his unique take on learnings from Brexit. He urged the venture capitalist community to invest in their negotiation skills, saying: "In the VC community, your whole day is based around negotiation. Use lessons from Brexit to influence your own strategy – don't assume the outcome, remain consistent and remember, all your actions are being watched."
(JG/CM)
70% of entrepreneurs and investors surveyed at an all-island conference say access to funding has increased over the last five years, although investor readiness remains a significant challenge.
The statistics were gathered at the annual InterTradeIreland venture Capital Conference last week in Croke Park, Dublin. Over 400 entrepreneurs, venture capitalists, business angels and investors attended.
When asked about the main barriers to raising investment support as a start-up, 46% said investor readiness was a key challenge, while 38% cited a lack of access to suitable investors or funds as a hurdle.
Looking at the key attributes of raising finance or investing in a start-up, investors said an understanding of the process (26%) and confidence (25%) were most important. Over a fifth also pointed to technical capacity as a significant quality when considering backing a venture.
Speaking from the event, Margaret Hearty, Director of Programmes & Business Services at InterTradeIreland said: "Venture capital continues to be an increasingly popular route for businesses wanting to grow, with latest figures from the Irish Venture Capital Association (IVCA) reporting a strong rebound in the final quarter of last year, achieving its highest quarterly total of nearly €20 million. The number of options for funding is expanding year-on-year, so it's vital that companies have the right information to help them access these funds and are investor ready."
Chaired by broadcaster and journalist Mark Simpson, guests heard from a diverse line up of experienced VC experts including Investment Manager Deirdre Terrins from Crescent Capital who highlighted cyber security, digital creatives and big data as emerging venture capital areas. She said: "As cyber threats continue to grow, there is a need for big data and data privacy to be intrinsically linked to a company's security policy. This is a growing area of expertise in Ireland and we see it representing a huge opportunity for budding entrepreneurs, with interest from investors."
Steve Collins, a Partner at Frontline Ventures, outlined the practicalities of what investors look for, from pre-seed to IPO stage. Emphasising the importance of building contacts, he advised that in his experience, networking recommendations is the best way to secure funding as there is established trust and expectation. He said: "In my experience, only 1% of deals secure funding out of an average of 1,000 pitches, and none of these come from a cold pitch. Establishing and growing a trusted network is vital."
Also speaking at the event, Dr Vincent Power, a Partner at A&L Goodbody provided the audience with his unique take on learnings from Brexit. He urged the venture capitalist community to invest in their negotiation skills, saying: "In the VC community, your whole day is based around negotiation. Use lessons from Brexit to influence your own strategy – don't assume the outcome, remain consistent and remember, all your actions are being watched."
(JG/CM)
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Venture fund investment in Ireland reaches IR£29m
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Mary Harney, Tánaiste and Minister for Enterprise Trade and Employment, has welcomed confirmation that the venture capital market continued to show strong growth in 2000. Ensuring critical support for the development and expansion of Irish business, the Minister confirmed that investment had risen to IR£28.8 million in 2000 compared to IR£20.
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31 March 2003
Invest NI offer practical support to aid company growth
Invest NI has written to client companies, business advisors and financial institutions in Northern Ireland to outline how the agency’s Principles for Business Support provide a framework for assistance to clients.
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Invest NI has written to client companies, business advisors and financial institutions in Northern Ireland to outline how the agency’s Principles for Business Support provide a framework for assistance to clients.
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