How good is Ireland when it comes to digital business skills? Pretty good it appears, compared to our EU neighbours.
The European Commission has ranked Ireland first in the EU for Integration of Digital Technology by business, and eighth overall on its “digital scoreboard”. The EC also highlights some weaknesses in Ireland’s digital strategy, noting an insufficient number of ICT professionals in the country to meet the growing demand. It stated that while Ireland scores well for internet use, we fall when it comes to cost and skills.
Did you know?
- Fixed broadband in Ireland costs twice the EU average (as a proportion of income).
- The software and IT sector was responsible for 45% of Dublin’s foreign direct investment from 2010-2014.
- Dublin is home to 250 global financial institutions and 50% of the world’s top banks.
- Dublin is home to nine of the world’s top 10 pharmaceutical companies and 17 of the world’s top medical technology companies.
Ireland has the highest Entrepreneurial spirit in Europe. And no wonder. Dublin’s reputation as a hub for foreign investment and the tech industry has been strengthened, with FDI magazine ranking the city third in its European City of the Future list. The magazine also placed the city fourth on foreign direct investment strategy, and within the top three for economic potential and business friendliness.
In other news, the Limerick Institute of Technology prepares for its upcoming Games Fleadh; an annual competition for undergraduate games designers and developers. Set to be held on March 9 in Thurles, the event counts EA Games and Microsoft among its supporters. While Ireland’s software boom and ‘Silicon Docks’ have been well documented, the Fleadh’s organisers hope the event will help to promote the idea of Ireland’s transformation into a gaming hotbed. With the growth of indigenous games companies on the island, further Irish jobs announcements from the likes of EA and the relocation of Doom creator Romero Games from California to Galway, the hope is that Ireland is poised to become the ‘Silicon Arcade of Europe’.
The technology sector in Ireland
There are an estimated 1,100+ companies across software / digital / IT Services in the technology sector in Ireland. Tech firms in Ireland also raised €415m in venture capital funding by Q3 2015, an increase of 32% over the same period last year.
IT staff remain the best-paid employees in the economy with average weekly earnings of €1k, up 4.4% in the past year.
Here is a full review of the tech sector in 2015 and an outlook for 2016.