Business & Finance brings you the day’s Irish business news in brief.
Strong Irish showcase at Mobile World Congress 2017
Enterprise Ireland today announced that 14 client companies will showcase their communications technology solutions on the Ireland Pavilion at Mobile World Congress, which takes places in Barcelona from February 27th to March 2nd.
The 14 exhibitors on the Ireland Pavilion comprise of three high-potential startup companies and 11 established companies showcasing in areas from digital engagement tools to utilising AI and data analytics, through to cutting edge technologies in small cell networks. In addition, there are three Enterprise Ireland client companies exhibiting on their own stand to include Asavie, Alpha Wireless and Openet.
The GSMA Mobile World Congress is the world’s largest gathering for the mobile industry and this year’s event is expected to attract over 100,000 visitors representing mobile operators, device manufacturers, technology providers, vendors and content owners from across the world.
Shannon to receive increase in direct scheduled US flights
Shannon Airport has welcomed the announcement by Norwegian Air International of two new services starting this summer to the US as a major opportunity for tourism and wider business sectors across the west and south of Ireland.
Norwegian Air International will commence direct services between Shannon and Stewart International Airport, Orange County and from Providence Green Airport, Rhode Island.
Norwegian CEO Bjorn Kjos said: “It has long been our ambition to grow our Irish operation with new transatlantic routes, but these plans simply wouldn’t have been possible without the significant support we have received throughout Ireland over the last three years.”
He continued: “We are hugely grateful for this continued support and are delighted to finally unveil our plans to shake up transatlantic travel with groundbreaking fares and never before seen routes in Ireland.”
€1m in startup funding for entrepreneurs and graduates announced
Two Competitive Start Fund (CSF) competitions worth a total of €1m in funding from Enterprise Ireland will open for applications to international entrepreneurs and recent graduates on Wednesday March 8th 2017. Up to 20 successful applicants will receive high-level business development support and an investment of up to €50,000 each.
The CSF is designed to accelerate the growth of start-ups and enable companies to reach key commercial and technical milestones. Applications are invited from ambitious graduates and international entrepreneurs with early stage companies capable of succeeding in global markets, creating jobs and growth.
The funds are open to companies active in manufacturing and internationally traded services including internet, games, apps, mobile, SaaS, cloud computing, enterprise software, life sciences, food, cleantech and industrial products.
New advocacy group launched to promote Irish tech sector
Technology Ireland, the new Ibec group representing the sector that was launched today, has stated that Ireland can become a global powerhouse in technology due to the competitive and skills led environment within which companies operate.
The new group brings together Ibec’s ICT Ireland and Irish Software Association (ISA) members to create an advocacy group for the leading Irish-owned and foreign direct investment (FDI) companies in the Irish technology sector.
The group will be chaired by Zelia Madigan, managing director at Ericsson Ireland, and the vice chair will be Jonathan Hyland, CTO at Globoforce.
The current market size of the global technology sector is over $4tn and this is expected to grow more than 30% by 2020.
Base Wood Fired Pizza creates 25 jobs
Irish company Base Wood Fired Pizza has expanded its business with the opening of a fifth store in Glenageary with the creation of 25 jobs and an investment of €300,000.
The store is part of a five-year expansion plan with the overall hope for the company to open ten new stores in the surrounding Dublin area and other counties. Currently the company has an annual turnover of €5m with the view to hitting €6m in 2017.
Base Wood Fired Pizza is investing a further €300,000 into its Ballsbridge and Terenure stores which includes additional ovens and an overall refurbishment. The company has also invested €250,000 in a production unit in Kimmage in south Dublin.
Ricoh announces 110 jobs at new Irish HQ
Ricoh Ireland today announced the opening of its new Irish headquarters on the back of a €6.5m investment.
The HQ in Airside Business Park, Swords will welcome an additional 110 team members over the next three years as Ricoh looks to grow its Irish business to 190 people by the end of 2019.
Speaking about the announcement, Gary Hopwood, general manager, Ricoh Ireland, said: “Our revenue stream in Ricoh Ireland continues to grow and we want to continue driving that forward. To achieve that, we needed a new office space that could facilitate a much larger workforce that will be instrumental in Ricoh Ireland’s future success. We expect to see significant returns on this investment for many years to come.”