Venture Capital has a vital role to play in seeding and growing Irish business.
Post Crisis the Government must now incentiveise and reward risk taking and entrepreneurship.
As Brian Caulfield, Chairman of the Irish Venture Capital Association recently pointed out- 20,000 jobs have been created by Irish V.C. backed companies over the past 10 years.
Seed investment into Irish business will only occur at the levels required if government actively introduces measures to reward such risk-taking.
Message to the Irish Government- "A lot done- More to do".
“20,000 high quality jobs have been created by Irish venture capital backed companies over the past 10 years and supported another 50,000 downstream. Total Irish venture capital funds under management now exceed €2 billion". -Brian Caulfield, chairman, Irish Venture Capital Association
He added, “We also need to reform our personal taxation system to remove barriers and disincentives to entrepreneurship and create real incentives both for entrepreneurs and those who fund them at this incredibly risky stage of their development."
“Tellingly, Ireland ranked just 16th in Europe for early stage entrepreneurship in the recent GEM (Global Entrepreneurship Monitor) report and has less than half the entrepreneurship rate of the US.”