In a recently published National Policy Statement on Entrepreneurship in Ireland (2014), the Irish Minister for Jobs, Richard Bruton TD, targeted the creation of 93,000 extra jobs over the next five years.
Core to this plan was the use of the Irish BICs as a key tool in the creation of sustainable new business and jobs, especially focused on areas of innovation and high value.
The report states:
- BICs will continue to assist clients to become “investor ready” and guide them through the fundraising process to enhance their chance of securing funding
- [BICs will help] attract more angel and international venture capital investors and continue to develop the domestic venture capital sector
- BICs have found that holistic and entrepreneur-centric support systems work best, with solutions tailored to meeting the specific needs of the startup.
It is clear that the EU|BIC model is increasingly seen as a tried-and-tested, successful, and powerful tool to support economic development at the local, regional and national level.
(See also the ECA Report on incubation)
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